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: 8-31-99
[ ] 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:
Nothing in this 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
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 timely file its quarterly report on
Form 10-Q for the three and six months ended August 31, 1999
without unreasonable effort or expense because the Registrant is
completing the necessary steps to finalize the spin-off of its
home health care division which is expected to occur on or about
October 20, 1999. As a result, the Registrant is filing this
notification and will file the Form 10-Q within the time period
permitted by Rule 12b-25 of the Securities Exchange Act of 1934.
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 (See
Attachment)
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.
The Registrant anticipates reporting net income of approximately
$1.8 million for the six months ended August 31, 1999.
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: October 18, 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. The statement is signed on behalf
of the registrant by an authorized 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).
ATTACHMENT
A significant change in results of operations for Staff Builders,
Inc. will be reported as compared to the corresponding period for
the last fiscal year due to the spin-off of Staff Builders, Inc.'s
home health care business. The supplemental staffing business will
remain with Staff Builders, Inc. Accordingly, the results of
operations for the home health care business will be reported in a
separate filing on Form 10-Q for "Tender Loving Care Health Care
Services, Inc." ("TLC"). TLC filed a Registration Statement on
Form 10 which registered the shares of TLC to be issued in the
spin-off. Staff Builders, Inc.'s revenues, net income and earnings
per share for the six months ended August 31, 1999 are
approximately $75.6 million, $1.8 million and $.08, respectively.
Comparative financial statements to reflect the results of
operations of Staff Builders, Inc. are currently being prepared.
