<PAGE>

                                   FORM 10-Q

                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549



[X]  QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
     SECURITIES EXCHANGE ACT OF 1934
     For the quarterly period ended December 31, 2000
                                    -----------------

                                       OR

[  ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
     SECURITIES EXCHANGE ACT OF 1934
     For the transition period from ________ to _________

     Commission File Number 1-5863
                            ------

                                 JACLYN, INC.
--------------------------------------------------------------------------------
            (Exact name of registrant as specified in its charter)

                Delaware                                   22-1432053
     ----------------------------------                 ----------------
     (State or other jurisdiction of                    (I.R.S. Employer
     incorporation or organization)                     Identification No.)


               635 59th Street, West New York, New Jersey 07093
               ------------------------------------------------
                   (Address of principal executive offices)
                                  (Zip Code)

                                (201) 868-9400
            ------------------------------------------------------
              (Registrant's telephone number, including area code)


                                     NONE
            ------------------------------------------------------
   (Former name, former address and former fiscal year, if changed since last
                                    report)


Indicate by check mark whether the registrant (1) has filed all the reports
required to be filed by Section 13 or 15(d) of the Securities Exchange Act of
1934 during the preceding 12 months (or for such shorter period that the
registrant was required to file such reports), and (2) has been subject to such
filing requirements for the past 90 days.  Yes  X     No
                                              -----     ----



Indicate the number of shares outstanding of each of the registrant's classes of
common stock, as of the latest practicable date.

             Class                           Outstanding at February 1, 2001
----------------------------------           -------------------------------
Common Stock, par value $1 per share                    2,567,291

                                      -1-
<PAGE>

                         JACLYN, INC. AND SUBSIDIARIES

                                     INDEX


<TABLE>
<CAPTION>

                                                                                            Page No.
                                                                                            --------
Part I.  Financial Information:
<S>                                                                                          <C>
Item 1

     Condensed Consolidated Balance Sheets -
          December 31, 2000 (unaudited) and June 30, 2000 (derived from audited financial
          statements)                                                                        3

     Condensed Consolidated Statements of Earnings -
          Three and Six Months Ended December 31, 2000 and 1999 (unaudited)                  4

     Condensed Consolidated Statements of Cash Flows - Six Months
          Ended December 31, 2000 and 1999 (unaudited)                                       5

     Notes to Condensed Consolidated Financial Statements                                    6


Item 2
     Management's Discussion and Analysis of Financial
          Condition and Results of Operations                                                11

Item 3
     Quantitative and Qualitative Disclosures about Market Risk                              14


Part II.  Other Information:

Item 4
     Submission of Matters to a Vote Of Stockholders                                         15

Item 6
     Exhibits and reports on Form 8-K                                                        15

     Signatures                                                                              16
</TABLE>

                                      -2-
<PAGE>

                         PART 1.  FINANCIAL INFORMATION
                         JACLYN, INC. AND SUBSIDIARIES
                     CONDENSED CONSOLIDATED BALANCE SHEETS
                                 (In Thousands)

<TABLE>
<CAPTION>
                                                  December 31,    June 30,
                                                     2000           2000
                                              ---------------   --------------
                                                (Unaudited)       (See below)

                        ASSETS
<S>                                             <C>            <C>
CURRENT ASSETS:

Cash and cash equivalents                            $   331      $   315

Securities available for sale                          1,332        1,632

Accounts receivable, net                              10,888        9,694

Inventory                                              5,487        8,618

Prepaid expenses and other assets                      2,933        2,892
                                              ---------------   ------------
TOTAL CURRENT ASSETS                                  20,971       23,151

PROPERTY, PLANT AND EQUIPMENT, net                     1,075        1,005
                                                            -
OTHER ASSETS                                           2,320        2,360
                                              ---------------   ------------
     TOTAL ASSETS                                    $24,366      $26,516
                                              ===============   ============

        LIABILITIES AND STOCKHOLDERS' EQUITY

CURRENT LIABILITIES:

Notes payable - bank                                 $   875      $ 1,270

Accounts payable                                       3,517        4,882

Other current liabilities                              2,053        2,442
                                              ---------------   ------------
TOTAL CURRENT LIABILITIES                              6,445        8,594
                                              ---------------   ------------
DEFERRED INCOME TAXES                                  1,065        1,065

COMMITMENTS

STOCKHOLDERS' EQUITY:

Common stock                                           3,369        3,369

Additional paid-in capital                            12,117       12,117

Retained earnings                                      8,510        8,214

      Accumulated other comprehensive income              20            5
                                              ---------------   ------------
                                                      24,016       23,705

Less:  Common shares in treasury at cost               7,160        6,848
                                              ---------------   ------------
TOTAL STOCKHOLDERS' EQUITY                            16,856       16,857
                                              ---------------   ------------
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY           $24,366      $26,516
                                              ===============   ============
</TABLE>
The June 30, 2000 Balance Sheet is derived from audited financial statements.
See notes to condensed consolidated financial statements.


                                      -3-
<PAGE>

                         JACLYN, INC. AND SUBSIDIARIES
                 CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS
                                  (Unaudited)
                    (In Thousands, Except Per Share Amounts)





<TABLE>
<CAPTION>
                                                   Three Months Ended             Six Months Ended

                                                      December 31,                  December 31,

                                                    2000        1999             2000              1999
                                                 ----------  ----------       ----------        ----------
<S>                                              <C>         <C>              <C>               <C>
Net sales                                        $   23,364  $   18,546       $   43,490        $   34,161

Cost of goods sold                                   18,528      13,864           33,995            25,104
                                                 ----------  ----------       ----------        ----------
Gross profit                                          4,836       4,682            9,495             9,057
                                                 ----------  ----------       ----------        ----------


Shipping, selling and administrative expenses         4,515       4,474            8,891             8,697

Interest expense                                        101          81              205               120

Interest income                                          33          33               63                56
                                                 ----------  ----------       ----------        ----------
                                                      4,583       4,522            9,033             8,761
                                                 ----------  ----------       ----------        ----------

Earnings before income taxes                            253         160              462               296

Provision for income taxes                               91          58              166               107
                                                 ----------  ----------       ----------        ----------
Net earnings                                     $      162  $      102       $      296        $      189
                                                 ==========  ==========       ==========        ==========
Net earnings per common share - basic
  and diluted                                    $      .06  $      .04       $      .11        $      .07
                                                 ==========  ==========       ==========        ==========
Weighted average number of shares outstanding     2,639,136   2,711,391        2,656,244         2,711,391
                                                 ==========  ==========       ==========        ==========
</TABLE>



See notes to condensed consolidated financial statements.

                                      -4-
<PAGE>

                         JACLYN, INC. AND SUBSIDIARIES
                CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
                                  (Unaudited)
                                 (In Thousands)

<TABLE>
<CAPTION>
                                                                                        Six Months Ended

                                                                                          December, 31

                                                                                          2000      1999
                                                                                       -------   -------
<S>                                                                                    <C>       <C>
Cash Flows From Operating Activities:
Net earnings                                                                           $   296   $   189
Adjustments to reconcile net earnings to net cash provided by operating activities:
Depreciation and amortization                                                              185       155
Deferred income tax                                                                         (2)        -
Changes in assets and liabilities:
   (Increase) decrease in accounts receivable, net                                      (1,194)    2,904
   Decrease in inventories                                                               3,131       450
   (Increase) decrease in prepaid expenses and other current assets                        (39)      319
   Decrease in accounts payable and other current liabilities                           (1,754)   (1,993)
                                                                                     ---------  ---------
 Net cash provided by operating activities                                                 623     2,024
                                                                                     ---------  ---------

Cash Flows From Investing Activities:
   Purchase of property and equipment                                                     (215)      (43)
   Purchase of marketable securities - available for sale                                 (785)        -
   Maturities of  marketable securities - available for sale                             1,100         -
                                                                                     ---------  ---------
Net cash provided by (used in) investing activities                                        100       (43)
                                                                                     ---------  ---------

Cash Flows From Financing Activities:
   Decrease in notes payable - bank                                                       (395)   (1,680)
   Repurchase of common stock                                                             (312)
                                                                                     ---------  ---------
Net cash used in financing activities                                                     (707)   (1,680)
                                                                                     ---------  ---------
Net Increase in Cash and Cash Equivalents                                                   16       301
Cash and Cash Equivalents, beginning of period                                             315     1,051
                                                                                     ---------  ---------
Cash and Cash Equivalents, end of period                                               $   331   $ 1,352
                                                                                     ---------  ---------

Supplemental Information:
Interest paid                                                                          $   212   $    61
                                                                                     ---------  ---------
Taxes paid                                                                             $   260   $   133
                                                                                     ---------  ---------
</TABLE>


See notes to condensed consolidated financial statements.

                                      -5-
<PAGE>

                         JACLYN, INC. AND SUBSIDIARIES



              NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS


1.  Basis of Presentation:

    The accompanying unaudited condensed consolidated balance sheet as of
    December 31, 2000, the condensed consolidated statements of earnings for the
    three month and six month periods ended December 31, 2000 and 1999, and the
    condensed consolidated statement of cash flows for the six-month periods
    ended December 31, 2000 and 1999, have been prepared in accordance with
    accounting principles generally accepted in the United States of America for
    interim financial information.  Accordingly, they do not include all of the
    information and footnotes required by accounting principles generally
    accepted in the United States of America for complete financial statements.
    In the opinion of management, all adjustments (consisting of normal
    recurring accruals) considered necessary for a fair presentation have been
    included. It is suggested that these condensed consolidated financial
    statements be read in conjunction with the audited financial statements and
    notes thereto included in the Company's 2000 Annual Report to Stockholders.
    The results of operations for the period ended December 31, 2000 are not
    necessarily indicative of operating results for the full fiscal year.

2.  New Accounting Pronouncements:

    In November 1999, the SEC issued Staff Accounting Bulletin ("SAB") 101,
    "Revenue Recognition". This Bulletin sets forth the SEC Staff's position
    regarding the point at which it is appropriate to recognize revenue. The
    Staff believes that revenue is realizable and earned when all of the
    following criteria are met: persuasive evidence of an arrangement exists;
    delivery has occurred or service has been rendered; the seller's price to
    the buyer is fixed or determinable; and the amount to be collected is
    reasonably assured. The Company uses the above criteria to determine whether
    revenue can be recognized, and therefore believes that the issuance of this
    Bulletin does not have an impact on its financial statements.

3.  Supplemental Accounting Policies:

    Shipping and Handling Costs: Included in Shipping, Selling and
    Administrative expenses are all shipping and handling costs incurred by the
    Company. Included in revenues are all amounts billed to a customer in a sale
    transaction related to shipping and handling. Shipping and handling
    reimbursements included in revenue amounted to approximately $3,000 and
    $14,000 for the three and six months

                                      -6-
<PAGE>

    ended December 31, 2000, and $142,000 and $31,000 for the three and six
    months ended December 31, 1999, respectively.

    Revenue Recognition:  Revenue is recognized at the time merchandise is
    shipped or received by a third party consolidator, normally the same day of
    the shipment.  Sales returns, discounts and allowances are recorded as a
    component of net sales in the period in which the related revenue is
    recorded.  Products are shipped directly to customers using third party
    carriers.  The customer takes title and assumes the risks and rewards of
    ownership of the products when the merchandise leaves the Company's
    warehouse or is received by a third party consolidator, as applicable.


                                      -7-
<PAGE>

4.  Comprehensive Income:

    The Company's schedule of Net Comprehensive Income are as follows (in
    thousands):

<TABLE>
<CAPTION>
                                            Three Months            Six Months

                                              Ended                   Ended

                                            December 31,            December 31,

                                            2000     1999         2000        1999
                                           -----    -----        -----       -----
<S>                                        <C>      <C>          <C>         <C>
Net earnings                               $ 162    $ 102        $ 296       $ 189

Other comprehensive income, net of tax:

Unrealized holding gain on securities
 arising during period                        14        -           15           -
                                       ----------   -----        ------      -----
Net comprehensive earnings                 $ 176    $ 102        $ 311       $ 189
                                       ==========   =====        ======      =====
</TABLE>

5.   Earnings per Share:

     The Company's calculation of Basic and Diluted Net Earnings Per Common
          Share are as follows (in thousands, except per share amounts) :
<TABLE>
<CAPTION>
                                       Three Months Ended         Six Months Ended

                                          December 31,              December 31,

                                       2000        1999             2000         1999
                                   ----------  ----------       ----------   ----------
<S>                                <C>         <C>              <C>          <C>
Basic Net Earnings

Per Common Share:

Net Earnings                       $      162  $      102       $      296   $      189
                                   ----------  ----------       ----------   ----------
Basic Weighted Average Shares       2,639,136   2,711,391        2,656,244    2,711,391
                                   ----------  ----------       ----------   ----------
Basic Net Earnings

Per Common Share                   $      .06  $      .04       $      .11   $      .07
                                   ----------  ----------       ----------   ----------
</TABLE>

                                      -8-
<PAGE>

<TABLE>
<S>                                <C>         <C>              <C>          <C>
Diluted Net Earnings Per Common
 Share:

Net Earnings                       $      162  $      102  $      296        $      189
                                   ----------  ----------  ----------        ----------
Basic Weighted Average Shares       2,639,136   2,711,391   2,656,244         2,711,391

Add: Dilutive Options                  22,421      17,455      25,929            17,455
                                   ----------  ----------  ----------        ----------
Diluted Weighted Average Shares     2,661,557   2,728,846   2,682,173         2,728,846
                                   ----------  ----------  ----------        ----------
Diluted Net Earnings

Per Common Share                   $      .06  $      .04  $      .11        $      .07
                                   ----------  ----------  ----------        ----------
</TABLE>

Options to purchase 248,500 and 313,000 common shares were outstanding at
December 31, 2000 and 1999, respectively, but were not included in the
computation of diluted earnings per share because the exercise price of the
options exceeded the average market price and would have been anti-dilutive.

6.  Inventories:

    Inventories consist of the following components (in thousands):

                                 December 31,            June 30,
                                    2000                   2000

   Raw materials               $    1,342             $    4,611


Work in process                     1,795                  1,970
Finished goods                      2,350                  2,037
                               ------------           ------------
                               $    5,487             $    8,618
                               ------------           ------------

7. Available-for-sale securities:

                                    Unrealized       Estimated
                                  ---------------
                        Cost       Gains   Losses     Fair Value
                     -----------  -------  ------     ----------
December 31, 2000
Municipal Bonds       $1,302,000  $30,000    $-0-     $1,332,000
June 30, 2000
Municipal Bonds       $1,624,000  $ 8,000    $-0-     $1,632,000

  The Company did not record realized gains and losses on available-for-sale
securities during the six-months ended December 31, 2000 or during fiscal 2000
and 1999.

                                      -9-
<PAGE>

Maturities of available-for-sale securities at December 31, 2000 were:

                                                     Estimated
                                            Cost     Fair Value

Due in One Year or Less                  $      -0-  $      -0-

Due After One Year Through Five Years     1,302,000   1,332,000
                                         ----------  ----------
Total                                    $1,332,000  $1,343,000
                                         ==========  ==========

8.    Other Commitments:

      The Company has entered into licensing arrangements with several
      companies.  The Company is obligated, in certain instances, to pay minimum
      royalties over the term of the licensing agreements which agreements
      expire in various years through 2004. Aggregate minimum commitments by
      fiscal year are as follows:

                                   Minimum

                        Year     Commitments

                        2001        $421,600
                        2002         478,000
                        2003         381,400
                        2004           8,400

9.  Subsequent Event:


    As previously announced on January 19, 2001, the Company completed the
    acquisition of certain assets of I. Appel Corporation, which manufactures
    and distributes robes, dusters and loungewear to department stores. The
    aggregate purchase price for the acquisition was approximately $685,000
    which will be paid from current working capital.


                                      -10-
<PAGE>

                     MANAGEMENT'S DISCUSSION AND ANALYSIS OF
                  FINANCIAL CONDITION AND RESULTS OF OPERATIONS

  LIQUIDITY AND CAPITAL RESOURCES

    The Company's cash and cash equivalents increased $16,000 during the six-
month period ended December 31, 2000 to $331,000 from $315,000 at June 30, 2000.
Net cash was provided principally by a decrease in inventory of $3,131,000,
mostly offset by an increase in accounts receivable totaling $1,194,000 and a
decrease in accounts payable and other current liabilities of $1,754,000.  Net
cash of approximately $300,000 was  provided by investing activities through the
sale of marketable securities offset in part, by $215,000 for the purchase of
property and equipment.  Net cash used in investing activities of $707,000
consisted of repayments of the Company's bank line of credit totaling $395,000
as well as $312,000 used to repurchase shares of the Company's Common Stock as
discussed below.

  The Company previously announced that the Board of Directors authorized the
repurchase by the Company of up to 150,000 shares of the Company's Common Stock.
Purchases can be made from time to time in the open market and through privately
negotiated transactions, subject to general market and other conditions.  The
Company is financing these repurchases from its own funds and/or from its bank
credit facility. Under this program, the Company repurchased 36,700 and 66,700
shares of the Company's common stock at a cost of $112,000 and $200,000, for the
first and second quarters ended September 30, and December 31, 2000,
respectively. Since the inception of the program and through December 31, 2000,
the Company repurchased 123,400 shares of its Common Stock at a cost of
$356,000.

  The Company has an agreement with a bank for a  line of credit which extends
through June 30, 2001. The credit facility provides the Company with short-term
loans, letters of credit and bankers acceptances amounting to $20,000,000.  The
Company can borrow up to $10,000,000 with the Company's inventory and accounts
receivable  pledged to the bank as collateral, provided it maintains a minimum
quick ratio of 1 to 1, as well as a minimum tangible net worth of $14,000,000.

  The Company believes that funds provided by operations, existing working
capital and the Company's

                                      -11-
<PAGE>

bank line of credit will be sufficient to meet foreseeable working capital
needs. There are no plans for significant capital expenditures in the near term.



RESULTS OF OPERATIONS

Net sales were $23,364,000 and $43,490,000 during the three and six-month
periods ended December 31, 2000 compared to $18,546,000 and $34,161,000 in the
three and six-month periods ended December 31, 1999, respectively.

Net sales for the Women's Apparel category were $14,992,000 for quarter ended
December 31, 2000, which  reflects an increase in net sales of $5,286,000, or
54.5 %, from the same quarter in fiscal 2000. The sales increase for this
category was primarily due to increased customer orders from existing customers
of the women's apparel catalogue business, as well as higher volume from women's
sleepwear products. For the six-month period ended December 31, 2000 net sales
for the Women's Apparel category were $26,491,000 , or 59.4% higher than the
prior fiscal year's same period, mostly attributable to the women's apparel
catalogue business.

Net sales for the Handbags category were $8,372,000 for the three-month period
ended December 31, 2000, a decrease of $468,000, or 5.3% below the same three-
month period in the prior year, mostly reflecting a slowing demand for both
medium and higher priced handbags. Fiscal 2001's six-month period ended December
31, 2000 had net sales of $16,999,000, or 3.1% less than the prior comparable
six-month fiscal period, which totaled $17,542,000 for the same reasons with
respect to the three-month period.

Gross margins were 20.7% and 21.8% in the three-month and six-month periods
ended December 31, 2000 compared to 25.4% and 26.5% in the comparable periods
ended December 31, 1999, respectively.

Gross margin for the Women's Apparel category in the three-month period ended
December 31, 2000, declined by 2.6% to 17.9% from 20.5% in the prior comparable
three-month period, mostly attributable to lower women's sleepwear margins due
to higher off-price sales in the current period.  For the six-month period ended
December 31, 2000, gross margins were 20.6% for this category versus 18.1% in
the prior year comparable period.

Gross margin for the Handbags category was 25.7% in the quarter ended December
31, 2000 compared to 30.5% in the similar prior year quarter.  This lower gross
margin reflects a drop in the Company's

                                      -12-
<PAGE>

premium business gross margin due to product mix as well as slightly higher
sales allowances for medium priced handbags. For the six-month period ended
December 31, 2000, gross margins were 27.6% versus 32.1% in the prior year's
comparable period for similar reasons.

Shipping, selling and administrative expenses totaling $4,515,000 were $41,000
greater than the second quarter in the prior year comparable period.  However,
as a percentage of net sales, shipping, selling and administrative expenses
decreased from 24.1% to 19.3% mainly due to the relative level of fixed costs
compared to higher net sales. For the six-month period, shipping, selling and
administrative expenses were $8,891,000 (20.4% of net sales), or $194,000 higher
than the same six-month period in the prior fiscal year which totaled $8,697,000
(25.5% of net sales).

Interest expense of $101,000 and $205,000 in the second quarter and six-months
of fiscal 2001 is $20,000 and $85,000, respectively, higher than the prior
comparable periods reflecting a higher level of borrowing under the Company's
line of credit which was needed to fund the additional sales volume.

Interest income was unchanged in the three month period ended December 31,
2000, but higher by $7,000 in the first six months of the current fiscal year
compared to the fiscal 2000 same period due to a slightly higher rate of return
on invested funds during the first quarter of this fiscal year compared to the
same period last year.

Earnings before income taxes the three-month period ended December 31, 2000 as
compared to the equivalent prior  fiscal period were higher due primarily to
increased sales, offset somewhat by higher shipping, selling and administrative
expenses and interest expense, discussed above.  Net earnings for the three
month period ended December 31, 2000 of $162,000 compares to net earnings for
the same period last year of $102,000.  For the six-month period ended December
31, 2000, net earnings were $296,000 versus $189,000 in the prior comparable
period for the same reasons given above.

RECENTLY ISSUED ACCOUNTING STANDARDS

In November 1999, the SEC issued Staff Accounting Bulletin ("SAB") 101,
"Revenue Recognition". This Bulletin sets forth the SEC Staff's position
regarding the point at which it is appropriate to recognize revenue. The Staff
believes that revenue is realizable and earned when all of the following
criteria are met: persuasive evidence of an arrangement exists; delivery has
occurred or service has been rendered; the

                                      -13-
<PAGE>

seller's price to the buyer is fixed or determinable; and the amount to be
collected is reasonably assured. The Company uses the above criteria to
determine whether revenue can be recognized, and therefore believes that the
issuance of this Bulletin does not have an impact on its financial statements.

Item 3. Quantitative and Qualitative Disclosures About Market Risk.

There have been no material changes in the information set forth under the
caption "Item 7A-Quantitative and Qualitative Disclosures About Market Risk" in
the Company's Annual Report on Form 10-K for the fiscal year ended June 30,
2000.

                                      -14-
<PAGE>

PART II. OTHER INFORMATION

Item 4. Submission of Matters to a Vote of Stockholders.
--------------------------------------------------------

 (a)   Date of Annual Meeting of Stockholders - December 5, 2000.

 (b)   See item 4(c)(i) below.

 (c)   (i) The election of seven directors to serve until the next annual
 meeting of stockholders.

 Name of Director    Votes  For Election    Authority to Vote Withheld
------------------  ---------------------  ----------------------------
Abe Ginsburg               2,161,339                  235,782

Allan Ginsburg             2,161,339                  235,782

Robert Chestnov            2,161,339                  235,782

Howard Ginsburg            2,161,339                  235,782

Martin Brody               2,161,339                  235,782

Richard Chestnov           2,161,339                  235,782

Albert Safer               2,161,339                  235,782

Norman Axelrod             2,161,339                  235,782

  (ii)  Ratification of the appointment of Deloitte & Touche LLP as independent
        accountants of the Company.

Votes Cast For:  2,372,110  Votes Against: 27,943     Abstentions:       718

  (iii) Ratification of the Company's 2000 Stock Option Plan.

Votes Cast For:  1,469,053  Votes Against: 275,646    Abstentions:    18,056

Item 6. Exhibits and Reports on Form 8-K

a)  Exhibit 27. Financial Data Schedule.

b)  Reports on Form 8-K. The registrant did not file any reports on Form 8-K
    during the three months ended December 31, 2000.

                                      -15-
<PAGE>

                                   SIGNATURES

       Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.

                                         JACLYN, INC.
                                         ---------------------------
                                         (Registrant)

   February 14, 2000                     /s/Allan Ginsburg
                                         ---------------------------
                                         Allan Ginsburg
                                         Chairman of the Board

   February 14, 2000                     /s/ Anthony Christon
                                         -------------------------
                                         Anthony Christon
                                         Vice President
                                         Chief Financial Officer

                                      -16-
<PAGE>

EXHIBIT INDEX
-------------



Exhibit No.        Description                   Page No.
-----------        -----------                   --------

    27        Financial Data Schedules           18

                                      -17-