SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 12B-25
Commission File Number: 0001-000052
NOTIFICATION OF LATE FILING
( ) Form 10-K ( ) Form 11-K ( ) Form 20-F (X) Form 10-Q
( ) Form N-SAR
For Period Ended: June 30, 1998
( ) 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
For Transition Period Ended: Not applicable.
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: Not applicable.
PART I
REGISTRANT INFORMATION
Full name of registrant: Sunbeam Corporation
Former name, if applicable: Not Applicable
Address of principal executive office:
1615 South Congress Avenue, Suite 200
City, state and zip code: Delray Beach, Florida 33445
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 box if appropriate.)
(a) The reason described in 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, 20-F, 11-K or Form N-SAR, or portion thereof will
be filed on or before the 15th 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 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.
As previously announced, the Audit Committee of the Board of Directors
of Sunbeam Corporation (the "Company") has determined that the Company will
be required to restate its audited financial statements for 1997 and
possibly 1996, as well as its unaudited financial statements for the first
quarter of 1998. This conclusion was reached by the Audit Committee based
on information presented to it by the Company's outside auditor, Arthur
Andersen LLP, and the accounting firm assisting the Audit Committee,
Deloitte & Touche LLP.
The Company believes that it will be in a position to issue
restated financial statements by the end of September 1998. Until that
time, the Company will not be in a position to report its financial results
for the second quarter of 1998 and, accordingly, will be unable to file its
second quarter Form 10-Q with the Commission.
PART IV
OTHER INFORMATION
(1) Name and telephone number of person to contact in regard to this
notification:
Janet G. Kelley (561) 243-2127
(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 restatements will involve adjustments that are expected to be
material in the aggregate for 1997 and possibly for 1996, as well as for
the first quarter of 1998. The Company is working with Arthur Andersen LLP
and Deloitte & Touche LLP to review the Company's financial records and
quantify the adjustments. Until this review is completed, however, no
estimate can be made of the extent of any restatement that may be required
with respect to the second quarter of 1997.
Sunbeam Corporation
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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: August 13, 1998 By: /s/ Bobby Jenkins
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Bobby Jenkins
Executive Vice President and
Chief Financial Officer
