<PAGE>   1


                                 UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                    FORM 10-Q

         (Mark One)
         [X]    QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15 (D)
                     OF THE SECURITIES EXCHANGE ACT OF 1934

                    For Quarterly Period Ended June 30, 1997


                                       OR

         [ ]   TRANSITION REPORT PURSUANT TO SECTION 13 OR 15 (D)
                     OF THE SECURITIES EXCHANGE ACT OF 1934

                         Commission File Number 0-21717

                            CASCO INTERNATIONAL, INC.
                           (formerly CA Short Company)

Incorporated - Delaware                     I.R.S. Identification No. 56-0526145

             4205 East Dixon Boulevard, Shelby, North Carolina 28150

                  Registrant's Telephone Number (704) 482-9591

Indicate by check mark whether the registrant (1) has filed all 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

                      APPLICABLE ONLY TO CORPORATE ISSUERS:

Indicate the number of shares outstanding of each of the issuer's classes of
common stock, as of latest practicable date 1,003,431 common shares outstanding,
each with par value $0.01, as of August 4, 1997.






<PAGE>   2





                         PART I - FINANCIAL INFORMATION


ITEM I.   FINANCIAL STATEMENTS

                            CASCO INTERNATIONAL, INC.
                           (formerly CA SHORT COMPANY)
                                 BALANCE SHEETS
                       June 30, 1997 and December 31, 1996
                                    Unaudited



<TABLE>
<CAPTION>
                                                                         1997                  1996
                                                                     ------------          ------------
                                     ASSETS
<S>                                                                  <C>                   <C>         
Current assets:
   Cash                                                              $    144,986          $    130,971
   Accounts receivable                                                  1,553,287             4,644,027
   Inventory                                                            5,461,493             6,968,365
   Prepaid expenses                                                       844,573               818,108
                                                                     ------------          ------------

         Total current assets                                           8,004,339            12,561,471
                                                                     ------------          ------------

Buildings and equipment:
   Buildings                                                            3,194,058             3,194,058
   Equipment                                                            1,903,892             1,866,122
                                                                     ------------          ------------
                                                                        5,097,950             5,060,180
   Less accumulated depreciation                                       (1,496,913)           (1,339,848)
                                                                     ------------          ------------
                                                                        3,601,037             3,720,332
Land                                                                      211,468               211,468
                                                                     ------------          ------------

           Total property and equipment, net                            3,812,505             3,931,800
                                                                     ------------          ------------

Other assets:
   Cost in excess of net assets acquired, net of accumulated
      amortization of $250,526 and $233,444 respectively                1,115,941             1,133,023
Other                                                                     634,256               622,256
                                                                     ------------          ------------
                                                                        1,750,197             1,755,279
                                                                     ------------          ------------
TOTAL ASSETS                                                         $ 13,567,041          $ 18,248,550
                                                                     ============          ============
</TABLE>



                     The accompanying notes are an integral
                        part of the financial statements.


<PAGE>   3


                            CASCO INTERNATIONAL, INC.
                           (formerly CA SHORT COMPANY)
                                 BALANCE SHEETS
                       June 30, 1997 and December 31, 1996
                                    Unaudited


<TABLE>
<CAPTION>
                                                                    1997                  1996
                                                                ------------          ------------
LIABILITIES AND STOCKHOLDERS' EQUITY

<S>                                                             <C>                   <C>         
Liabilities:
   Accounts payable                                             $    344,650          $  1,572,020
   Short-term debt obligations                                     1,404,015             3,669,746
   Short-term subordinated debenture                                 100,000                  --
   Accrued liabilities                                               225,692               342,156
   Advanced deposits-current                                       2,222,998             1,952,317
                                                                ------------          ------------

      Total current liabilities                                    4,297,355             7,536,239
                                                                ------------          ------------

Due Pages                                                               --               4,124,975
Advanced deposits-noncurrent                                       2,223,755             2,935,626
Subordinated debenture                                             4,900,000                  --
Deferred tax liability                                                82,650               323,650
                                                                ------------          ------------

Total Liabilities:                                                11,503,760            14,920,490
Commitments and contingencies                                           --                    --

Stockholders' equity:
   Preferred Shares:  $.01 par value; authorized
      300,000 shares; none issued and outstanding                       --                    --
   Common shares $.01 par value; authorized 5,000,000;
      issued 929,103 and 334.91 shares respectively                    9,291                     3
   Capital in excess of par value                                  3,273,669             4,157,982
   Accumulated deficit                                            (1,219,679)             (829,925)
                                                                ------------          ------------

      Total stockholders' equity                                   2,063,281             3,328,060
                                                                ------------          ------------

TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY                      $ 13,567,041          $ 18,248,550
                                                                ============          ============
</TABLE>



                     The accompanying notes are an integral
                        part of the financial statements.



<PAGE>   4




                            CASCO INTERNATIONAL, INC.
                           (formerly CA SHORT COMPANY)
                            STATEMENTS OF OPERATIONS
           For the three months and the six months ended June 30, 1997
                                    Unaudited

<TABLE>
<CAPTION>
                                                                     Three Months                           Six Months
                                                                1997              1996               1997               1996
                                                             -----------       -----------       ------------       ------------

<S>                                                          <C>               <C>               <C>                <C>         
Revenues                                                     $ 4,227,065       $ 4,227,434       $  8,443,149       $ 10,052,824

Costs and Expenses:
   Cost of goods sold                                          2,524,362         2,559,529          4,780,213          5,962,436
   Selling, general and administrative                         1,874,555         1,859,165          3,861,680          3,811,809
   Interest                                                      119,032            26,807            257,863             32,961
   Depreciation and amortization                                  87,825            84,171            174,147            167,092
   Management fee paid to Pages                                     --             125,000               --              250,000
                                                             -----------       -----------       ------------       ------------
                                                               4,605,774         4,654,672          9,073,903         10,224,298
Loss from continuing operations before income taxes
    and cumulative effect of change in accounting
    principle                                                   (378,709)         (427,238)          (630,754)          (171,474)
Benefit for income taxes                                         144,700             3,500            241,000             57,300
                                                             -----------       -----------       ------------       ------------

Loss before cumulative effect of change in accounting
   principle                                                 $  (234,009)      $  (423,738)      $   (389,754)      $   (114,174)
Cumulative effect of change in accounting principle net
   of income tax of $397,850
                                                                    --                --                 --              596,814
                                                             -----------       -----------       ------------       ------------

NET INCOME (LOSS)                                            $  (234,009)      $  (423,738)      $   (389,754)      $    482,640
                                                             ===========       ===========       ============       ============

INCOME (LOSS) PER COMMON SHARE:
Loss before cumulative effect of change in
   accounting principle                                      $     (0.23)      $     (0.43)      $      (0.39)      $      (0.11)
Cumulative effect of change in accounting principle                 --                --                 --         $       0.59
                                                             -----------       -----------       ------------       ------------
Net income (loss)                                            $     (0.23)      $     (0.43)      $      (0.39)      $       0.48
                                                             ===========       ===========       ============       ============

Weighted average common shares outstanding
                                                               1,003,431                            1,003,431
                                                             ===========                         ============
Proforma common shares outstanding                                               1,003,431                             1,003,431
                                                                               ===========                          ============
</TABLE>




                     The accompanying notes are an integral
                        part of the financial statements.



<PAGE>   5


                            CASCO INTERNATIONAL, INC.
                           (formerly CA SHORT COMPANY)
                            STATEMENTS OF CASH FLOWS
                  For the six months end June 30, 1997 and 1996
                                    Unaudited

<TABLE>
<CAPTION>
                                                                             1997                  1996
                                                                        ------------          ------------

<S>                                                                     <C>                   <C>         
Cash flows from operating activities:
   Net income (loss)                                                    $   (389,754)         $    482,640
   Adjustments to reconcile net (loss) income to cash
      provided by operating activities:
      Depreciation and amortization                                          174,147               167,092
      Deferred provision                                                    (241,000)              (57,300)
      Changes in assets and liabilities:
      (Increase) decrease in assets:
         Accounts receivable                                               3,090,740             4,040,514
         Inventory                                                         1,506,872             1,159,583
         Prepaid expenses and other assets                                   (38,465)             (121,615)

      Increase (decrease) in liabilities:
         Accounts payable and accrued liabilities                         (1,343,834)           (1,162,132)
         Advance deposits                                                   (441,190)             (951,690)
                                                                        ------------          ------------
            Total adjustments                                              2,707,270             3,074,452
                                                                        ------------          ------------

Net cash provided by operating activities                                  2,317,516             3,557,092

Cash flows from investing activities
   Payments for purchases of property and equipment                          (37,770)             (219,615)
                                                                        ------------          ------------
Cash used in investing activities                                            (37,770)             (219,615)

Cash flows from financing activities:
   Proceeds from debt obligation                                          10,573,563            11,712,321
   Principal payments on debt                                           $(12,839,294)         $(15,234,621)
                                                                        ------------          ------------
Cash used in financing activities                                         (2,265,731)           (3,522,300)

Increase (decrease) in cash                                                   14,015              (184,823)
Cash, beginning of period                                                    130,971               226,678
                                                                        ------------          ------------

Cash, end of period                                                     $    144,986          $     41,855
                                                                        ============          ============

Other Cash Flow Information:
   Cash payments during the year for:
      Interest                                                          $    170,363          $     68,952
      Income taxes, net of refunds                                              --                    --

Noncash Financing Activities:
   Subordinated debenture with Pages assumed at spin-off                $  5,000,000          $       --
   Due to Pages replaced with subordinated debenture                    $  4,124,975          $       --
   Decrease in capital in excess of par value and common stock
      from spin-off                                                     $    870,025          $       --
</TABLE>


                     The accompanying notes are an integral
                        part of the financial statements.



<PAGE>   6




                            CASCO INTERNATIONAL, INC.
                           (formerly CA SHORT COMPANY)
                          NOTES TO FINANCIAL STATEMENTS
                                    Unaudited

         The accompanying financial statements have not been audited, but
reflect all adjustments which, in the opinion of management, are necessary for a
fair presentation of financial position, results of operations and cash flows
for the periods presented. All adjustments are of a normal and recurring nature.
These consolidated financial statements should be read in conjunction with the
Company's audited financial statements and notes thereto for the fiscal year
ended December 31, 1996.

         Effective at the close of business on December 31, 1996, a tax free
spin off of the Company's common stock from its former parent, Pages, was
completed (the "Distribution"). In the Distribution, for every ten shares of
Pages' common stock outstanding on the record date, one and one-half shares of
the Company's common stock was distributed to Pages shareholders.

NEW BANK AGREEMENT

         On June 30, 1997, the Company renewed its credit facility in the form
of a $4.5 million revolving line of credit. The credit facility has an
expiration date of June 30, 1998 and bears interest at the lender's prime rate
of interest plus one percent floating daily. All business assets of the Company
are pledged as collateral for the credit facility.

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

Quarter and Six Months Ended June 30, 1997 Compared to Quarter and Six Months
Ended June 30, 1996:

         Revenues for the three months ended June 30, 1997 approximated $4.23
million, compared to $4.23 million in revenues for the three months ended June
30, 1996.

         Revenues for the six months ended June 30, 1997 approximated $8.44
million, compared to $10.05 million in revenues for the six months ended June
30, 1996, a decrease of 16.02% or approximately $1.61 million. The decline in
revenue was due to disappointing holiday sales and a decrease in volume on
certain existing customers coupled with delayed redemptions on new accounts.

         Cost of goods sold for the three months ended June 30, 1997
approximated $2.52 million, compared to approximately $2.56 million of cost of
goods sold for the three months ended June 30, 1996, a decrease of 1.6% or
approximately $40,000. The decrease in cost of goods sold was attributable to
the decrease in revenues. As a percentage of revenues, cost of goods sold
decreased to 59.72% for the three months ended June 1997, from 60.55% for the
three months ended June 30, 1996. The 0.83% decrease in the cost of goods sold,
as a percentage of revenues was principally attributable to a change in product
mix, and an improved inventory purchasing strategy.

         Cost of goods sold for the six months ended June 30, 1997 approximated
$4.78 million, compared to approximately $5.96 million of cost of goods sold for
the six months ended June 30, 1996, a decrease of 19.80% or approximately $1.18
million. The decrease in cost of goods sold was attributable to the decrease in
revenues. As a percentage of revenues, cost of goods sold decreased to 56.62%
for the six months ended June 30, 1997, from 59.31% for the six months ended
June 30, 1996. The 2.69% decrease in the cost of goods sold, as a percentage of
revenues was principally attributable to a change in product mix, and an
improved inventory purchasing strategy.


<PAGE>   7



         Selling, general, and administrative expense for the three months ended
June 30, 1997 approximated $1.87 million, compared to $1.86 million for the
three months ended June 30, 1996, an increase of approximately $10,000. The
increase in selling, general, and administrative expense was primarily due to a
restructuring of the Company's sales force.

         Selling, general, and administrative expense for the six months ended
June 30, 1997 approximated $3.86 million, compared to $3.81 million for the six
months ended June 30, 1996, an increase of 1.3% or approximately $50,000. The
increase in selling, general, and administrative expense was primarily due to a
restructuring of the Company's sales force.

         Interest expense was approximately $119,000 for the three months ended
June 30, 1997, compared to $27,000 for the three months ended June 30, 1996, an
increase of approximately $92,000. For the six months ended June 30, 1997
interest expense approximated $258,000, compared to approximately $33,000 for
the six months ended June 30, 1996 an increase of approximately $225,000. The
increase was primarily due to the new subordinated debenture, which was entered
into effective January 1, 1997. The average outstanding debt for the first six
months in 1997 approximated $1.65 million compared to $1.52 million for the
first three months in 1996. Additionally, the average interest rate for the
first six months in 1997 approximated 9.38% compared to approximately 9.04% for
the same period in 1996.

         Depreciation and amortization expense was approximately $88,000 for the
three months ended June 30, 1997, compared to $84,000 for the three months ended
June 30, 1996, an increase of 4.76% or approximately $4,000. Depreciation and
amortization expense was approximately $174,000 and $167,000 for the six months
ended June 30, 1997 and 1996 respectively, an increase of 4.2%, or approximately
$7,000. The increase in depreciation and amortization expense was principally
attributable to the depreciation of newly acquired assets in 1996.

         Income tax benefit was $241,000 for the six months ended June 30, 1997,
compared to $57,300 for the six months ended June 30, 1996. The provisions for
income tax benefit were calculated through the use of estimated income tax rates
based upon the loss before taxes.

LIQUIDITY AND CAPITAL RESOURCES

         The Company's primary sources of liquidity have been cash generated
from operating activities and amounts available under its existing credit
facility. The Company's primary uses of funds consist of financing inventory and
receivables, and the expansion of the sales force.

         The Company has adopted a growth strategy, which will be accomplished
through increased efforts of the Company's existing, highly trained sales force,
in order to expand current market share and enter into new markets.

         The Company anticipates that operating cash flows during the next
twelve months, coupled with its ability to borrow under the credit facility,
will cover operating expenditures and meet the short-term debt obligations. The
Company's credit facility is due and payable in full on June 30, 1998. Although
the lender has not issued a commitment to do so, the Company's relationship with
its lender is favorable and the Company anticipates that the credit facility
will be renewed when due.


<PAGE>   8


         The Company also entered into a $5 million, 7% subordinated debenture
with Pages simultaneously with the Distribution in satisfaction of amounts due
to Pages by the Company. Any excess of the amount due to Pages, as of the
Distribution over the $5 million subordinated debenture, was recorded as capital
in excess of par. Principal payments are $100,000 per year for the first four
years, and a final payment due at the end of the fifth year for the remaining
principal balance. Interest is at 7% per annum, payable quarterly.

         The Company does not anticipate any material expenditures for property
and equipment during the next twelve months.

         The Company is aware of no trends or demands, commitments or
uncertainties that will result in, or that management believes are reasonably
likely to result in, the Company's liquidity increasing or decreasing in any
material way. The Company is aware of no legal or other contingencies, the
effects of which are believed by management to be reasonably likely to have a
material adverse effect on the Company's financial statements.

SEASONALITY

        The Company's business is highly seasonal, with approximately 40 percent
of its revenues and most of its profits recorded in the months of November,
December, and January. As a result, the Company's working capital requirements
are highest during November and December when the combination of receivables and
inventory are at peak levels. The Company typically experiences losses in its
second and third quarters.

        As the results from the Company's growth strategy develop, the effects
of seasonality should be highly diminished. The business categories on which the
Company has chosen to focus offer steadier revenue flows, as well as more
consistent requirements for working capital.

INFLATION

        Although the Company cannot determine the precise effects of inflation,
inflation has an influence on the cost of the Company's products and services,
supplies, salaries, and benefits. The Company attempts to minimize or offset the
effects of inflation through increased sales volumes and sales prices, improved
productivity, alternative sourcing of products and supplies, and reduction of
other costs. The Company generally has been able to offset the impact of price
increases from suppliers by increases in the selling prices of the Company's
products and services.

SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS

         Certain statements contained in this Form 10-Q under "Management's
Discussion and Analysis of Financial Condition and Results of Operations"
regarding matters that are not historical facts and "forward looking statements"
(as such term is defined in the Private Securities Litigation Reform Act of
1996) and because such statements involve risks and uncertainties, actual
results may differ materially from those expressed or implied by such
forward-looking statements. Those statements include remarks regarding the
intent, belief, or current expectations of the Company, its directors, or its
officers with respect to, among other things: (i) future operating cash flows;
(ii) the Company's financing plans, and (iii) the Company's growth strategy,
including the expansion of current market share and the entrance into new
markets.

<PAGE>   9


         Prospective investors are cautioned that any such forward-looking
statements are not guarantees of future performance and involve risks and
uncertainties, and that actual results may differ materially from those
projected in the forward-looking statements as a result of various factors. The
accompanying information contained in this Form 10-Q, including without
limitation and information set forth under the heading "Management's Discussion
and Analysis of Financial Condition and Results of Operations", identifies
important factors that could cause such differences.


                           PART II - OTHER INFORMATION


ITEM 1: LEGAL PROCEEDINGS

         The Company is not involved in any material pending legal proceedings,
other than ordinary, routine litigation incidental to its business.


ITEM 2: CHANGES IN SECURITIES

         None

ITEM 3: DEFAULTS UPON SENIOR SECURITIES

         None

ITEM 4: SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS

         None

ITEM 5: OTHER INFORMATION

         Effective August 1, 1997 CA Short Company changed its name to CASCO
         INTERNATIONAL, INC. The Company will still conduct business under the
         CA Short Company name.

ITEM 6: EXHIBITS AND REPORTS ON FORM 8K

Exhibit                                                            Method
Number       Description                                          of Filing
------       -----------                                          ---------
*10.3        Amendment to 1996 Incentive Stock Option Plan            2
 27          Financial Data Schedule                                  2


1. Incorporated by reference to the Company's registration statement on
   Form 10, file number 0-271717, filed in Washington, D.C.

2. Filed herewith.

*  Indicates a management contract or compensatory plan or arrangement
   required to be filed herewith.

(b)  Reports on Form 8-K

         A report on Form 8K was dated and filed on July 23, 1997, under Item 4
         dismissing Deloitte & Touche LLP as its principal independent
         accountant, and the engagement of Hausser + Taylor as its new
         independent accountants.




<PAGE>   10


                                    SIGNATURE

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

                                  CASCO INTERNATIONAL, INC.
                                  (formerly CA Short Company)
                                  Registrant



Date: August 5, 1997
                                      By: /s/ Jeffrey A. Ross
                                      ------------------------------------------
                                      Jeffrey A. Ross
                                      Principal Financial and Accounting Officer