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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 12B-25
NOTIFICATION OF LATE FILING
Commission File Number: 000-21559
CUSIP Number: 92675K 10 6
(Check One): [X] Form 10-K [ ] Form 20-F [ ] Form 11-K [ ] Form 10-Q
[ ] Form N-SAR
For Period Ended: Year ended December 31, 1998
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[ ] Transition Report on Form 10-K
[ ] Transition Report on Form 20-F
[ ] Transition Report on Form 11-K
[ ] Transition Report on Form 10-Q
[ ] Transition Report on Form N-SAR
For the Transition Period Ended:
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If the notification relates to a portion of the filing checked above, identify
the Item(s) to which the notification relates: N/A
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PART I--REGISTRANT INFORMATION
Viisage Technology, Inc.
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Full Name of Registrant
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Former name of Registrant
30 Porter Road
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Address of Principal Executive Office (Street and Number)
Littleton, Massachusetts 01460
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City, State and Zip Code
PART II--RULES 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 box if appropriate)
[X] (a) The reasons described in reasonable detail in Part III 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.
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PART III--NARRATIVE
State below in reasonable detail the reasons why the Form 10-K, 20-F, 10-Q,
N-SAR or the transition report or portion thereof could not be filed within the
prescribed time period. (Attach extra sheets if needed.)
The Registrant is in the process of negotiating modifications to all of its
long-term financing facilities and is awaiting binding commitment letters from
its lenders to finalize Form 10-K disclosures and balance sheet classifications.
The Registrant expects to receive the binding commitment letters within the 15
day extension period and therefore is requesting an extension of time to file so
that this information can be reflected in the Registrant's Form 10-K for the
year ended December 31, 1998.
PART IV--OTHER INFORMATION
(1) Name and telephone number of person to contact in regard to this
notification
William A. Marshall, Chief Financial Officer (978) 952-2212
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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 filed? If the answer is
no, identify report(s).
[X] Yes [_] No
(3) Is it 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 an 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.
The Registrant has issued a fourth quarter press release that discloses
financial results for the quarter and year ended December 31, 1998. For the year
ended December 31, 1998, revenues decreased to $16.3 million from $29.4 for the
comparable period in the prior year and net loss increased to $7.2 million from
a net loss of $4.4 million for the comparable period in the prior year. For the
quarter ended December 31, 1998, revenues decreased to $4.4 million from $7.6
million for the comparable period in the prior year and net loss decreased to
$2.5 million from a net loss of $5.7 million for the comparable period in the
prior year.
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Viisage Technology, 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, 1999 By /s/ William A. Marshall
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William A. Marshall
Chief Financial Officer
