UNITED STATES SEC File Number
SECURITIES AND EXCHANGE COMMISSION 0-11380
WASHINGTON, D.C. 20549
Cusip Number
FORM 12b-25
NOTIFICATION OF LATE FILING
(Check One): Form 10-K Form 20-F X Form 10-Q
Form N-SAR
For Period Ended: 11-30-98
[ ] 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 From N-SAR
For the Transition Period Ended:
If the notification relates to a portion of the filing checked
above, identify the item(s) to which the notification relates:
STAFF BUILDERS, INC.
(Name of Registrant)
1983 Marcus Avenue
(Address of Principal Executive Office - Street and Number)
Lake Success, NY 11042
(City, State and Zip)
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)
(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 X
(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 the Form 10-K, 11-
K, 10-Q, N-SAR, or the transition report or portion thereof, could
not be filed within the prescribed time period.
The Registrant is unable to file its quarterly report on Form 10-Q
for the three and nine months ended November 30, 1998 without
unreasonable effort or expense because it has been unable to
quantify the net effect on results of operations and its financial
position arising from recent, retroactive Medicare and Medicaid
audit adjustments.
PART IV-Other Information
(1) Name and telephone number of person to contact in regard to
this notification.
Willard T. Derr 516 327-3305
(Name) (Area Code) (Telephone Number)
(2) Have all other periodic reports required to be filed by 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), Yes X 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 statement 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.
During the quarter ended November 30, 1998 the Company has received
Medicare and Medicaid retroactive audit adjustments for which the
full impact on the Company's financial position and net results of
operations have not yet been quantified. The Company anticipates a
material charge to its results of operations for the three and nine
months ended November 30, 1998 and is finalizing the quantification
and presentation thereof with its outside professionals.
Staff Builders, Inc.
(Name of Registrant as Specified in Charter)
has caused this notification to be signed on its behalf by the
undersigned hereunto duly authorized.
Date: January 15, 1999
By: /s/ Willard T. Derr
Willard T. Derr
Sr. Vice President, Corporate Controller
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 persons signing the form shall be typed or
printed beneath the signature. If the representative (other than
an executive officer), evidence of the representative's authority
to sign on behalf of the registrant shall be filed with the form.
ATTENTION
Intentional misstatements or omissions of fact constitute Federal
Criminal Violations (See 18 U.S.C. 1001).
