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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
Amendment No. 1 to
FORM 12b-25
NOTIFICATION OF LATE FILING
(Check One):
[ ] Form 10-K [ ] Form 20-F [ ] Form 11-K [X] Form 10-Q [ ] Form N-SAR
For Period Ended: January 3, 1999
[ ] 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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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:
Harvard Industries, Inc.
Former Name if Applicable:
N/A
Address of Principal Executive Office (Street and Number):
3 Werner Way
City, State and Zip Code
Lebanon, New Jersey 08833
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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, the
following should be completed. (Check box if appropriate)
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(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, 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,
N-SAR or the transition report or portion thereof could not be filed within
the prescribed time period.
On November 24, 1998, Harvard Industries, Inc. ("Harvard") and its
nine domestic subsidiaries substantially consummated their First Amended and
Modified Consolidated Plan Under Chapter 11 of the Bankruptcy Code, dated
August 19, 1998 (the "Plan of Reorganization"). As a result of the demands on
management resources relating to court filings, new banking arrangements and
additional disclosure requirements, preparation of the Form 10-Q has taken
longer than anticipated.
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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
Theodore W. Vogtman 908 437-4109
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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
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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.
Harvard reported a loss of $5,519,000 for the 3 months ended December
31, 1997. On November 24, 1998, Harvard substantially consummated the Plan of
Reorganization, and emerged from bankruptcy. In connection with its emergence
from Chapter 11 bankruptcy, Harvard implemented "Fresh Start Reporting" as of
November 29, 1998. Accordingly, all assets and liabilities were restated to
reflect respective fair values at that date and Harvard incurred a
non-recurring loss of approximately $50.4 million. As a result of the
consummation of the Plan of Reorganization, certain debts of Harvard were
discharged and Harvard realized an extraordinary gain of $206.4 million.
Together these non-recurring items will result in income for the period ending
January 3, 1999.
Harvard Industries, 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: February 17, 1999 By: /s/ Theodore W. Vogtman
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Name: Theodore W. Vogtman
Title: Executive Vice President and
Chief Financial Officer
