SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 12b-25
Commission File Number 1-2883
NOTIFICATION OF LATE FILING
(Check One): (X) Form 10-Q
For Period Ended: September 30, 2000
Nothing in this form shall be construed to imply that the
Commission has verified any information contained herein.
PART I
REGISTRANT INFORMATION
Full name of registrant OUTBOARD MARINE CORPORATION
Address of principal executive office (Street and number) 100 SEA HORSE DRIVE
City, State and Zip Code WAUKEGAN, ILLINOIS 60085
PART II
RULE 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, 20-F, 11-K, or Form N-SAR, or portion
thereof will be filed on or before the 15th 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.
PART III
NARRATIVE
State below in reasonable detail the reasons why Form 10-K, 11-K,
20-F, 10-Q, N-SAR or the transition report portion thereof could not be
filed within the prescribed time period. (Attach extra sheets if needed)
Outboard Marine Corporation (the "Company") has been unable to
complete its review of the information necessary to file a complete and
accurate quarterly report on Form 10-Q. The Company expects to complete its
review shortly, and will file its quarterly report on Form 10-Q as soon as
practicable thereafter.
PART IV
OTHER INFORMATION
(1) Name and telephone number of person to contact in regard to
this notification
Eric T. Martinez (847) 689-7010
(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 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
The financial information to be contained in the Company's Form
10-Q for the quarterly period ended September 30, 2000, is expected to
reflect significantly lower earnings as compared to the corresponding
period for last year. For the quarter ended September 30, 2000, the Company
anticipates a net loss of $27.4 million as compared to net income of $11.0
million in the prior-year period. The year-over-year change was principally
due to (i) the current year containing lower gross earnings, which was
driven by the marine engine segment; (ii) the current year containing
increased selling, general and administrative expense, which was driven
primarily by the prior year containing a curtailment gain (to reflect
changes made to pension and postretirement plans) along with the current
year including increased marketing expense for promotional programs; (iii)
the current year containing increased other expense, driven by foreign
currency exchange losses; and (iv) the current year containing increased
preferred dividend expense related to the Company's convertible preferred
stock. This was partially offset by the current year containing
restructuring income related to the reversal of a previously recorded
restructuring charge related to the closure of the Company's Waukegan, IL
manufacturing plant.
OUTBOARD MARINE CORPORATION
(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 14, 2000 By: /s/ Eric T. Martinez
---------------------
Name: Eric T. Martinez
Title: Chief Financial Officer
