UNITED STATES
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
( X ) Form 11-K ( ) Form 10-Q and Form 10-QSB
( ) Form N-SAR
For Period Ended: December 31, 1994
( ) Transition Report on Form 10-K
( ) Transition Report on Form 20-K
( ) Transition Report on Form 11-K
( ) Transition Report on Form 10-Q
( ) Transition Report on Form N-SAR
For The Transition Period Ended ________________________________
SEC FILE NUMBER 0-3041
CUSIP NUMBER 482171
Nothing in the 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:
PART I -- REGISTRANT INFORMATION
Justin Industries, Inc.
Full Name of Registrant
Former Name if Applicable
2821 West Seventh Street
Address of Principal Executive Office (Street and Number)
Fort Worth, Texas 76107
City, State and Zip Code
PART II -- RULES 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) ( X )
(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, 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
of 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 and Form 10-KSB,
20-F, 11-K, 10-Q and Form 10-QSB, N-SAR, or the transition report or portion
thereof, could not be filed within the prescribed time period
The 1994 Form 11-K filing for the Justin Industries, Inc. Employee
Stock Ownership Plan cannot be filed timely without unreasonable effort
or expense. The reasons for late filing are as follows.
The Plan changed from a bank trustee and in-house record keeping to the
bundled trustee and record keeping services of Merrill Lynch in the
last half of 1994. Also, investment options were expanded to include
four Merrill Lynch investment funds in addition to the Justin
Industries, Inc. Common Stock investment option. There were various
administrative problems encountered in the process of changing
trustees, record keeping functions and expansion of investment
alternatives. In addition, certain complications were encountered in
new non-discrimination testing requirements required by federal law.
As a result of all of these issues, final trust statements for the year
ended December 31, 1994, were not received from the trustee until June
19, 1995. Receipt of the final trust statements on this date only
allowed eight business days until the prescribed due date for filing
Form 11-K. Such time period is not adequate to prepare Form 11-K and
complete the audit of the related financial statements of the Plan by
Ernst & Young. See attached exhibit from Ernst & Young.
Form 11-K will be filed no later than the fifteenth calendar day
following the prescribed due date of Form 11-K.
PART IV -- OTHER INFORMATION
(1) Name and telephone number of person to contact in regard to this
notification
Judy Hunter (817) 390-2478
(Name) (Area Code) (Telephone Number)
(2) Have all other period 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?
( ) Yes ( X ) 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.
Justin Industries, 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 29, 1995 By: /s/ Richard J. Savitz
Richard J. Savitz
Vice President-Finance/
Chief Financial Officer
ERNST & YOUNG LLP Suite 2200 Phone: 817 335 1900
500 Throckmorton Fax Numbers--
Fort Worth, Texas 76102 Audit: 817 348 6003
Tax: 817 348 6024
June 28, 1995
United States
Securities and Exchange Commission
Washington, D.C. 20549
Justin Industries, Inc.
We have read Justin Industries, Inc.'s Form 12b-25 relating to filing of its
Form 11-K.
We agree to the facts stated in the filing indicating that we are unable to
complete the audit of the Company's Employee Stock Ownership Plan by the filing
deadline.
Sincerely,
/s/ Ernst & Young LLP
