U.S. SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 12b-25
SEC File Number: 1-8101
NOTIFICATION OF LATE FILING
(Check One):
[X] Form 10-K
[ ] Form 20-F
[ ] Form 11-K
[ ] Form 10-Q
[ ] Form N-SAR
For Period Ended: July 2, l999
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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: N/A
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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.
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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
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Full Name of Registrant: SMTEK International, Inc.
Former Name if Applicable: DDL Electronics, Inc.
Address of Principal Executive Office: 2151 Anchor Court
City, State and Zip Code: Thousand Oaks, CA 91320
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Part II -- Rules 12b-25(b) and (c)
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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, Form 20-F, Form 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
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State below in reasonable detail the reasons why Form 10-K, 20-F, 11-K,
10-Q or N-SAR, or the transition report or portion thereof, could not be
filed within the prescribed time period.
The registrant experienced unexpected turnover of personnel in its
finance and accounting functions after the end of its latest fiscal year.
Consequently, publication of the registrant's Annual Report on Form 10-K for
its fiscal year ended July 2, 1999 ("Fiscal 1999") has been delayed.
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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:
Richard K. Vitelle (805) 376-2595
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(Name) (Area Code) (Telephone Number)
(2) Have all other periodic reports required under Section 13 or
l5(d) of the Securities Exchange Act of l934 or Section 30 of the
Investment Company Act of l940 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 consolidated statement of operations for Fiscal 1999 has not
yet been finalized. However, effective in the fourth quarter of Fiscal
1999 the registrant recorded a provision of approximately $1.8 million
for federal income taxes and related accrued interest in connection with
an IRS assessment related to certain years prior to Fiscal 1999. In
addition, the registrant expects to record a provision for excess
inventory in an amount yet to be determined. Principally because of
these two factors, the registrant expects to report a net loss in the
range of $2 million to $2.7 million for Fiscal 1999, compared to net
income of $493,000 in the preceding fiscal year.
SMTEK International, 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: September 30, 1999 By: /s/ Richard K. Vitelle
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Richard K. Vitelle
Chief Financial 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 an 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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ATTENTION
Intentional misstatements or omissions of fact constitute federal
criminal violations (See 18 U.S.C. 1001).
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