SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 12b-25
NOTIFICATION OF LATE FILING
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SEC FILE NUMBER
0-8505
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CUSIP NUMBER
667822 10 0
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(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: September 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
For the Transition Period Ended:
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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.
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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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PART I - REGISTRANT INFORMATION
Full Name of Registrant
Northwest Teleproductions, Inc.
Former Name if Applicable
Address of Principal Executive Office (Street and Number)
4000 West 76th Street
City, State and Zip Code
Minneapolis, Minnesota 55435
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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;
(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,
[x] 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.
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PART III - NARRATIVE
State below in reasonable detail the reasons why the 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. (Attach Extra
Sheets if Needed)
In light of a recent management change at the Chief Executive Officer level, it
has taken more time than anticipated to prepare the Registrant's quarterly
documents, and additional time is required to provide for adequate preparation
and review of such materials.
<PAGE>
PART IV - OTHER INFORMATION
(1) Name and telephone number of person to contact in regard to this
notification
Phillip A. Staden 612 835-6450
(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.
See attached press release issued November 17, 1997.
Northwest Teleproductions, 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 November 17, 1997 By /s/ Phillip A. Staden
Phillip A. Staden, Chief Executive Officer and
Chief Financial 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 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).
GENERAL INSTRUCTIONS
1. This form is required by Rule 12b-25 (17 CFR 240.12b-25) of the General
Rules and Regulations under the Securities Exchange Act of 1934.
2. One signed original and four conformed copies of this form and amendments
thereto must be completed and filed with the Securities and Exchange
Commission, Washington, D.C. 20549, in accordance with Rule 0-3 of the
General Rules and Regulations under the Act. The information contained in
or filed with the form will be made a matter of public record in the
Commission files.
3. A manually signed copy of the form and amendments thereto shall be filed
with each national securities exchange on which any class of securities of
the registrant is registered.
4. Amendments to the notifications must also be filed on form 12b-25 but need
not restate information that has been correctly furnished. The form shall
be clearly identified as an amended notification.
5. Electronic Filers. This form shall not be used by electronic filers unable
to timely file a report solely due to electronic difficulties. Filers
unable to submit a report within the time period prescribed due to
difficulties in electronic filing should comply with either Rule 201 or
Rule 202 of Regulations S-T (ss. 232.201 or ss. 232.202 of this chapter) or
apply for an adjustment in filing date pursuant to Rule 13(b) of Regulation
S-T (ss. 232.13(b) of this chapter). 551906
<PAGE>
PRESS RELEASE
Contact:
Phillip A. Staden, CEO Minneapolis, MN
612-835-6450 November 17, 1997
Northwest Teleproductions, Inc. (Nasdaq: "NWTL") reports sales of $3,212,531 and
a net loss of $384,046 or $.28 per share for the second quarter ended September
30, 1997. This compares with sales of $3,469,747 and net income of $188,536 or
$.14 per share for the second quarter of the prior year. Year to date sales of
$6,099,371 and a net loss of $859,875 compares with sales of $6,050,262 and a
net loss of $222,209 for the corresponding period last year.
Phillip A. Staden, President, said "We are continuing to work towards
increasing revenue growth in our core business units that service the corporate
industrial and advertising agency marketplace. In our effort to move forward we
are expanding our sales force. New sales associates in Chicago and Dallas have
already been hired. We will expand the sales force in Minneapolis in the near
future. Also, there have been modest delays in servicing the backlog for some of
our largest clients. We anticipate catching up with the backlog during the third
quarter. To balance the decline in revenues additional overhead reductions are
planned to bring fixed expenses in line with projected revenues. The Company
does continue to be successful in our Programming Group. There are currently
five projects in production including the prime time show Gimme Shelter. This is
an area of growth that the Company is committed to support."
Northwest Teleproductions, Inc. is a full service production company with
additional specialties in creative development for network show production,
broadcast programming, and high-end post and graphics. The Company has
facilities in Minneapolis, Chicago and Dallas.
<TABLE>
<CAPTION>
Three Months Ended Six Months Ended
September 30 September 30
1997 1996 1997 1996
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<S> <C> <C> <C> <C>
NET SALES $3,212,531 $3,469,747 $6,099,371 $6,050,262
COST OF SALES
Cost of products and services sold $2,943,192 $2,710,142 $5,725,238 $5,168,590
Selling, general and administrative $511,159 $502,323 $1,004,465 $1,021,152
Interest $143,622 $125,783 $279,601 $240,405
---------- ---------- ---------- ----------
$3,597,973 $3,338,248 $7,009,304 $6,430,147
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($385,442) $131,499 ($909,933) ($379,885)
Other Income $1,396 $8,898 $50,058 $9,537
---------- ---------- ---------- ----------
Income Before Income Tax (Credit) Expen ($384,046) $140,397 ($859,875) ($370,348)
Income Tax (Credit) Expense ($48,139) ($148,139)
Net Income (Loss) ($384,046) $188,536 ($859,875) ($222,209)
========== ========== =========== ==========
Net Income (Loss) Per Share ($0.28) $0.14 ($0.63) ($0.16)
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</TABLE>
