SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 12B-25
Commission File Number: 0-27042
NOTIFICATION OF LATE FILING
(Check One): [x] Form 10-K [ ] Form 11-K [ ] Form 10-Q [ ] Form N-SAR
For period ended: DECEMBER 31, 1997
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[ ] Transition Report on Form 10-K [ ] Transition Report on Form 10-Q
[ ] Transition Report on Form 20-F [ ] Transition Report on Form N-SAR
[ ] Transition Report on Form 11-K
READ ATTACHED INSTRUCTION SHEET BEFORE PREPARING FORM. PLEASE PRINT OR TYPE.
Nothing in this form shall be construed to imply that the Commission
has verified any information contained herein.
If the notification relates to a portion of the filing checked above;
identify the item(s) to which the notification relates:________________________
PART I
REGISTRANT INFORMATION
Full name of registrant ALPHANET SOLUTIONS, INC.
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Former name if applicable
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Address of principal executive office (Street and number)
7 RIDGEDALE AVENUE
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City, State and Zip Code CEDAR KNOLLS, NEW JERSEY 07927
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PART II
RULE 12B-25 (B) AND (C)
If the subject report could not be filed without unreasonable effort or
expense and the registrant seeks relief pursuant to Rule 12b-25(b), the
following should be completed. (Check appropriate box.)
[X] (a) The reasons described in reasonable detail in Part II of this form
could not be eliminated without unreasonable effort or expense;
[X] (b) The subject annual report, semi-annual report, transition report on
Form 10-K, 20-F, 11-K or Form N=SAR, or portion thereof will be
filed on or before the 15th calendar day following the prescribed
due date; or the subject quarterly report or transition report on
Form 10-Q, or portion thereof will be filed on or before the fifth
calendar day following the prescribed due date; and
[ ] (c) The accountant's statement or other exhibit required by Rule
12b-25(c) has been attached if applicable.
PART III
NARRATIVE
State below in reasonable detail the reasons why the Form 10-K, 11-K,
20-F, 10-Q, N-SAR or the transition report portion thereof could not be filed
within the prescribed time period. (Attach extra sheets if needed).
AlphaNet Solutions, Inc. (the "Company") is unable to timely
file its Annual Report on Form 10-K for the Year Ended December 31,
1997 (the "Form 10-K") without unreasonable effort or expense because
of the turnover in the Company's Chief Financial Officer position. The
Form 10-K is currently being prepared and will be filed no later than
the fifteenth calendar day following the March 31, 1998 due date of the
Form 10-K.
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PART IV
OTHER INFORMATION
(1) Name and telephone number of person to contact in regard to this
notification.
GARY T. GANN, ESQ. (973) 267-0088
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(Name) (Area Code)(Telephone Number)
(2) Have all other periodic reports required under Section 13 or 15(d)
of the Securities Exchange Act of 1934 or Section 30 of the Investment Company
Act of 1940 during the preceding 12 months or for such shorter period that the
registrant was required to file such report(s) been file? If the answer is no,
indentify report(s).
[X] Yes [ ] No
(3) It is anticipated that any significant change in results of
operations from the corresponding period for the last fiscal year will be
reflected by the earnings statements to be included in the subject report or
portion thereof?
[X] Yes [ ] No
If so: attach explanation of the anticipated change, both narratively
and quantitatively, and, if appropriate, state the reasons why a reasonable
estimate of the results cannot be made.
Please see Exhibit A attached hereto and forming a part hereof.\
ALPHANET SOLUTIONS, INC.
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(Name of registrant as specified in charter)
Has caused this notification to be signed on its behalf by the undersigned
thereunto duly authorized.
Date: March 31, 1998 By: /s/ STAN GANG
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Name: Stan Gang
Title: Chairman of the Board, President
and Chief Executive Officer
INSTRUCTION. The form may be signed by an executive officer of the
registrant or by any other duly authorized representative. The name and title of
the person signing the form shall be typed or printed beneath the signature. If
the statement is signed on behalf of the registrant by an authorized
representative (other than the executive officer), evidence of the
representative's authority to sign on behalf of the registrant shall be filed
with the form.
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EXHIBIT A
PART IV
OTHER INFORMATION
(3) For the fiscal year ended December 31, 1997, the Company expects to
report that it had net sales of approximately $191.4 million, an increase of
$71.8 million from net sales of approximately $119.6 million in the prior year.
The Company also expects to report that, in 1997, it had net income of
approximately $5.4 million, an increase of approximately $1.5 million from net
income of approximately $3.9 million in the prior year. Diluted earnings per
share for 1997 is expected to be not less thatn $0.91 per share compared to
diluted earnings per share of $0.82 for the prior year. The Company believes
that the increase in sales, net income and diluted earnings per share resulted
primarily from the Company's August 1997 acquisition of certain assets and
liabilities of the Lande Group, Inc. and increased demand for the Company's
services and support offerings, particularly its network consulting services,
due to an increase in the number and size of customer projects.
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