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U.S. SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 12b-25
NOTIFICATION OF LATE FILING
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(Check One) SEC FILE NUMBER
1 - 6220
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CUSIP NUMBER
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[x] Form 10-K and Form 10-KSB [] Form 20-F [] Form 11-K
[] Form 10-Q and Form 10-QSB [] Form N-SAR
For Period Ended: .........................................September 30, 1997
[x] 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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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 HMI Industries Inc.
Former Name if Applicable
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Address of Principal Executive Office (Street and Number)
3631 PERKINS AVENUE
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City, State and Zip Code CLEVELAND, OHIO 44114
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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) [Paragraph 23,047],
the following should be completed. (Check box if appropriate)
(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, 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 [Amended in Release no. 34-26589 (Paragraph 72,435), effective
April 12, 1989, 54 F.R. 10306.]
(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
State below in reasonable detail the reasons why the Form 10-K, 10-Q, N-SAR, or
the transition report or portion thereof, could not be filed within the
prescribed time period. (Attach Extra Sheets if Needed).
The registrant could not reasonably obtain information necessary to finalize
disclosures required in its Form 10-K Annual Report because key personnel were
unavailable due to their involvement in negotiations to enter into an agreement
to sell a substantial portion of the registrant's assets, Bliss Manufacturing
Company.
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PART IV-OTHER INFORMATION
(1) NAME AND TELEPHONE NUMBER OF PERSON TO CONTACT IN REGARD TO THIS
NOTIFICATION.
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MICHAEL HARPER 216 432-1990
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(Name) (Area Code) (Telephone Number)
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(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 reports)
been filed? If answer is no, identify report(s). [X] Yes [ ] No
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(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.
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HMI 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
hereunto duly authorized.
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DATE 12/29/1997 BY
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MICHAEL HARPER, VICE PRESIDENT, CORPORATE CONTROLLER
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Part IV(3)
The registrant anticipates that the earnings statements in its Form 10-K for the
fiscal year ended September 30, 1997 will reflect a significant change in
results of operations from the earnings statements in its Form 10-K for the
previous fiscal year. The registrant's loss before income taxes and discontinued
operations is expected to increase to $20,763,000 in 1997, from $8,606,000 in
1996. This is due principally to a decrease of $8,942,000 in sales, a decrease
in gross profit due to volume declines, quality problems and operational
inefficiencies, severance charges of approximately $2,000,000 related to the
termination of former CEO Kirk W. Foley, and an increase of $4,659,000 in the
reserve for uncollectible accounts receivable. These receivables are related to
the Consumer Goods distributor network and the Finance Contract receivables from
the registrant's financing subsidiary, HMAC.
