` UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549 SEC File Number
0-11412
FORM 12b-25
NOTIFICATION OF LATE FILING CUSIP Number
032332306
(Check One): [ ] Form 10-K and Form 10-KSB [ ] Form 20-F [ ] Form 11-K
[ X ] Form 10-Q and Form 10-QSB [ ] Form N-SAR
For Period Ended: June 30, 1997
---------------------------------
[ ] 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
Form the Transition Period Ended:
-----------------------------
- --------------------------------------------------------------------------------
Read Attached Instruction Sheet Before Preparing Form. Please Print or Type.
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
AMTECH SYSTEMS, INC.
- --------------------------------------------------------------------------------
Full Name of Registrant
N/A
- --------------------------------------------------------------------------------
Former Name if Applicable
131 South Clark Drive
- --------------------------------------------------------------------------------
Address of Principal Executive Office (Street and Number)
Tempe, Arizona 85281
- --------------------------------------------------------------------------------
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).
[ ] (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, Form 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
[ ] (c) The accountant's statement or other exhibit required by Rule 12b-25(c)
has been attached if applicable.
<PAGE>
PART III - NARRATIVE
State below in reasonable detail the reasons why the Form 10-K and Form 10-KSB,
11-K, 20-F, 10-Q and Form 10-QSB, N-SAR, or the transition report or portion
thereof, could not be filed within the prescribed period.
The delay in filing the Form 10-Q is due to the devotion of resources to and
added workload resulting from the Company's recent acquisition activity and the
integration of such newly acquired operations.
PART IV - OTHER INFORMATION
(1) Name and telephone number of person to contact in regard to this
notification:
Robert T. Hass (602) 967-5146
------------------------------- ----------- ------------------------
(Name) (Area Code) (Telephone Number)
(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
-----------------------------------------------------------------------
(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.
It is anticipated that revenues for the nine months ended June 30,
1997, will be approximately $7.4 million or approximately 17% greater
than the $6.3 million of revenue for the comparable period of the prior
year. For the three quarters ended June 30, 1997, income from
continuing operations, net of tax, is expected to increase by
approximately 9% to approximately $160,000, from $147,000 for the
corresponding period in fiscal 1996. Sales of furnaces have
accelerated, while sales of the Company's higher margin equipment
products have languished as greater resources have been allocated to
acquisitions. This has resulted in a less favorable product mix, the
primary reason that year-to-date earnings did not increase in
proportion to the increase in revenues.
For the third quarter of fiscal 1997, which ended June 30, 1997,
revenues are anticipated to be $2.8 million, a decline of 13% from the
$3.2 million level for the corresponding period of fiscal 1996.
Revenues in the third quarter of the fiscal year 1996 were
significantly higher than in the most recently completed quarter. This
decline is primarily attributable to the Company's ability to ship
items in 1996 that had previously been delayed due to long lead-times
of important quartz parts. The allocation of significantly greater
resources to merger and acquisition activities during the most recent
quarter also contributed to the decrease in consolidated revenues. The
Company expects to report break even after tax results from continuing
operations for the three months ended June 30, 1997, compared to income
from continuing operations of $278,000 for the comparable period in
fiscal 1996. The decline in earnings is due to spreading overhead costs
over lower sales and a product mix with lower margins, as furnace sales
comprised a much larger percentage of the total than in the prior year.
2
<PAGE>
AMTECH SYSTEMS, 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: August 12 , 1997 By /s/ Robert T. Hass
---------------------------- --------------------------------
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 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).
- --------------------------------------------------------------------------------
3
