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U.S. SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 12B-25
NOTIFICATION OF LATE FILING SEC FILE NUMBER 0-13836
CUSIP NUMBER 827068-20-6
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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
For Period Ended March 31, 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
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Read Attached Instruction Sheet Before Preparing Form. Please Print or Type.
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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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......................................
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Part I- Registrant Information
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Full Name of Registrant
Former Name if Applicable
...............SILICON VALLEY RESEARCH, INC...............
Address of Principal Executive Office (Street and Number)
..............6360 San Ignacio Avenue..............
City, State and Zip Code
..............San Jose, CA 95119-1231..............
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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)
[XX] (a) The reasons described in reasonable detail in Part III of this form
could not be eliminated without unreasonable effort or expense;
[XX] (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
[XX] (c) The accountant's statement or other exhibit required by Rule 12b-
25(c) has been attached if applicable.
Part III-Narrative
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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 period.
Registrant's audited financial statements for fiscal 1999 are not yet available
due to Registrant's change in its accountants as described in its May 21, 1999
Current Report on Form 8-K.
Part IV-Other Information
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(1) Name and telephone number of person to contact in regard to this
notification:
Stephen M. Wurzburg (408) 280-2800
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(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?
[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.
As compared to fiscal 1998, Registrant's revenues for fiscal 1999 are expected
to decrease by approximately three-quarters million dollars to approximately two
million dollars. Registrant's loss for fiscal 1999 is expected to decrease to
approximately four and one-quarter million dollars from a fiscal 1998 loss of
approximately twelve million dollars. The main reasons for this decreased loss
of approximately seven and three-quarters million dollars were (1) an increase
of approximately one million dollars in gross margin despite the decreased
revenues, (2) a reduction in sales and marketing expenses of approximately one
and one-quarter million dollars, and (3) the elimination of one-time charges
totaling approximately five and one-quarter million dollars which were incurred
in fiscal 1998. These eliminated one-time fiscal 1998 charges had consisted of
(a) approximately two and one-half million dollars for in process research and
development, (b) approximately one and one-quarter million dollars of impaired
pre-paid royalty, and (c) approximately one and one-half million dollars of
unamortized software development costs.
SILICON VALLEY RESEARCH, INC., a California Corporation, has caused this
notification to be signed on its behalf by the undersigned thereunto duly
authorized.
Date: June 29, 1999 SILICON VALLEY RESEARCH, INC., a California Corporation
By: /s/ James Benouis
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James Benouis, President and
Chief Executive 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 execution officer), evidence of the representative's authority to
sign on behalf of the registrant shall be filed with this form.
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ATTENTION
Intentional misstatements or omissions of fact constitute Federal Criminal
Violations (see 18 U.S.C. 1001).
