SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ---------------------- FORM 10-Q ___ / X/ Quarterly report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended March 31, 1996 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 0-14787 - WATTS INDUSTRIES, INC. - (Exact name of registrant as specified in its charter) DELAWARE 04-2916536 - (State or other jurisdiction of (I.R.S. Employer incorporation or organization) Identification No.) 815 Chestnut Street, North Andover, MA 01845 - (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code (508) 688-1811 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_____ Indicate the number of shares outstanding of each of the issuer's classes of common stock, as of the latest practicable date. Class Outstanding at April 30, 1996 - ------------------------------ ----------------------------- Class A Common, $.10 par value 18,315,738 Class B Common, $.10 par value 11,365,627 WATTS INDUSTRIES, INC. AND SUBSIDIARIES INDEX Part I. Financial Information Page # Item 1. Condensed Consolidated Balance Sheets 3 at March 31, 1996 and June 30, 1995. Condensed Consolidated Statements of 4 Operations for the Three Months Ended March 31, 1996 and March 31, 1995. Condensed Consolidated Statements of 5 Operations for the Nine Months Ended March 31, 1996 and March 31, 1995. Condensed Consolidated Statements of 6 Cash Flows for the Nine Months Ended March 31, 1996 and March 31, 1995. Notes to Condensed Consolidated 7,8, Financial Statements. 9,10 Item 2. Management's Discussion and Analysis 11,12, of Financial Condition and Results of 13,14, Operations. 15,16 Part II. Other Information Item 6. Exhibits and Reports on Form 8-K. 17 Signatures 18 Exhibit Index 19 Exhibit 11 - Computation of Per Share 20 Earnings. Exhibit 27 - Financial Data Schedule 21