U. S. SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 12b-25
NOTIFICATION OF LATE FILING
(Check One):
[ ] Form 10-K and Form 10-KSB [ ] Form 20-F [ ] Form 11-K
[ X ]Form 10-Q and Form 10-QSB [ ] Form N-SAR
For Period Ended: June 30, 1996
[ ] 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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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 relates to a portion of the filing checked
above, identify the Item(s) to which the notification
relates:________________________
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PART I - REGISTRANT INFORMATION
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Full Name of Registrant: CHAMPION PARTS, INC.
Address of Principal Executive Office
(Street and Number): 2525 W. 22nd Street
City, State and Zip Code: Oak Brook, IL 60521
PART II - RULES 12b-25 (b) and (c)
[ X ] (a) The reasons described in reasonable detail in Part
III of this form could not be eliminated without unreasonable
effort or expense on an extension beyond June 30, 1996.
[ X ] (b) The subject quarterly report on Form 10-Q will be filed
on or before the fifth calendar day following the prescribed
due date;
[ ] (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
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The Company's current credit facility expired on June 30, 1996. The
Company and its banks are in discussion on a long term agreement or interim
extension. Also, the Company has had discussions with representative groups
of its current and former trade vendors regarding settlement of trade
obligations.
The result of these discussions could have a significant impact on the
Company's financial statements and disclosures. The Registrant requires
the additional five days following the prescribed due date for the 1996
second quarter 10-Q to complete financial statement and disclosure
requirements to reflect these significant items.
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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
Mark Smetana (708) 573-6264
(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.
See Attached.
CHAMPION PARTS, INC.
(Name of Registrant as specified in charter.)
has caused this notification to be signed on its behalf by the
undersigned thereunto duly authorized.
DATE: June 30, 1996
BY: /s/ Mark Smetana
Vice President Finance & Secretary
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ATTENTION:
Intentional misstatements or omissions of fact constitute
Federal Criminal Violations (See 18 U.S.C. 1001).
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EXPLANATION OF CHANGE IN RESULTS
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Net sales for the second quarter 1996 are 56% lower than 1995 second quarter
net sales due to the Company's decision to exit the manufacture and sale of
passenger car electrical and mechanical products during the second half
of 1995. The Company reported a net loss of $376,000 for the quarter ended
June 30, 1996 compared to a net loss of $8,494,000 during the same period
in 1995. Second quarter 1995 results included $4,133,000 in pretax special
charges and inventory write downs related to its decision to exit the
passenger car electrical and mechanical products.
Net sales for the first half of 1996 are 59% lower than 1995 first half sales.
The Company reported a net loss of $170,000 in the first half of 1996
compared to a net loss of $10,613,000 during the same period in 1995.
