U.S. SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 12b-25
NOTIFICATION OF LATE FILING
Commission File No. 0-14275
(Check One): [ ] Form 10-K or Form 10-KSB [ ] Form 11-K [ ] Form 20-F
[ X ] Form 10-Q or Form 10-QSB [ ] Form N-SAR
For Period Ended: July 3, 1999
[ ] Transition Report on Form 10-K or Form 10-KSB
[ ] Transition Report on Form 20-F
[ ] Transition Report on Form 11-K
[ ] Transition Report on Form 10-Q or Form 10-QSB
[ ] Transition Report on Form N-SAR
For the Transition Period Ended: Not Applicable
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: Not Applicable
Part I
Registrant Information
Full Name of Registrant: Edac Technologies Corporation
Former Name if Applicable: Not Applicable
Address of Principal Executive Office (Street and Number): 1806 New Britain
Avenue
City, State and Zip Code: Farmington, Connecticut 06032
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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 reason described in reasonable detail in Part III of this form
could not be eliminated without unreasonable effort or expense;
(b) The subject annual report, semiannual report, transition report on
Form 10-K, Form 10-KSB, 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
[x] report or transition report on Form 10-Q or Form 10-QSB, 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, 10-KSB, 11-K,
20-F, 10-Q, 10-QSB, N-SAR or the transition report portion thereof could not be
filed within the prescribed time period. (Attached extra sheets if needed.)
The registrant could not file its quarterly report on Form 10-QSB for the
quarter ended July 3, 1999 on the prescribed filing date for the following
reasons:
As a result of the decline in the commercial and military jet engine
markets, the Company is in the process of revising certain estimates within the
Company's financial statements. As a result, the Company has not yet been able
to finalize its operating results for the period ended July 3, 1999.
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Part IV
Other Information
(1) Name and telephone number of person to contact in regard to this
notification:
Ronald G. Popolizio, Chief Financial Officer 860-677-2603
(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
As discussed above, the Company has not finalized its operating results for
the period ended July 3, 1999 since it is in the process of revising certain
estimates within the financial statements. However, sales for the three months
ended July 3, 1999 were $14,945,000 representing an increase of $4,319,000
compared to prior year sales of $10,626,000 for the three months ended July 4,
1998. Excluding the effect of the acquisition of Apex Machine Tool Company,
Inc., sales decreased $391,000 in the 1999 period compared to the 1998 period.
Sales for 1999 in the Engineered Precision Components and Large Turning areas
are expected to decline between 40% to 60% from 1998 levels due to the soft
aerospace market. The Company will incur a loss from operations for the three
months ended July 3, 1999 compared to an operating profit of $1,225,000 for the
1998 period.
Edac Technologies Corporation has caused this notification to be signed on
its behalf by the undersigned thereunto duly authorized.
Dated this 17th day of August, 1999.
EDAC TECHNOLOGIES CORPORATION
BY
/s/ Ronald G. Popolizio
-------------------------------------
Ronald G. Popolizio, Chief Financial
Officer
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