U. S. SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D. C. 20549
FORM 12b-25
NOTIFICATION OF LATE FILING
SEC FILE NUMBER
1-5555
CUSIP NUMBER
949476105
[X] Form 10-K
For Period Ended: Fiscal year ended June 27, 1998
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Nothing in this form shall be construed to imply that the Commission has
verified any information contained herein.
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If the notification related to a portion of the filing checked above, identify
the item(s) to which the notification relates: N/A
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Part 1-Registrant Information
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Full Name of Registrant Wellco Enterprises, Inc.
P. O. Box 188, 150 Westwood Circle
( Address of Principal Executive Office)
Waynesville, NC 28786
(City, State and Zip Code)
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PART II-Rules 12b-25(b) and (c)
If the subject report could not be filed wihtout 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;
(b) The subject annual report, semi-annual report, transition
report on Form 10-K, For 20-F, 11-K or form N-SAR, or portion
thereof, will be filed on or before the fifteenth 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
Stated below is the reason why Form 10-Q could not be filed within the
prescribed period:
The Registrant has a significant outstanding claim with its major customer. The
Registrant has been informed by that customer that they expect their response to
this claim to be ready by October 2, 1998. This response could significantly
affect the amount of the claim recorded and disclosed in the Registrant's
Consolidated Financial Statements for its fiscal year ended June 27, 1998.
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Part IV-Other Information
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(1) Name and telephone number of person to contact in regard to this
notification is David Lutz, 828-456-3545, extension 102.
(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.
Operating results for the fiscal year ended June 27, 1998 will be
significantly less than the prior fiscal year ended June 28, 1997. If
the full amount of the claim is recorded, the Registrant will have a
small profit for the 1998 fiscal year. If the reasonably expected
smallest portion of the total claim is recorded, the Registrant will
have a loss estimated to be in the range of $300,000 to $500,000.
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Wellco Enterprises, Inc. has caused this notification to be signed on its behalf
by the undersigned thereunto duly authorized.
Date: September 25, 1998 By: /s/ David Lutz
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David Lutz, President
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