SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 12b-25
Commission File Number 000-15205
NOTIFICATION OF LATE FILING
(Check One): |X| Form 10-K | | Form 11-K | | Form 20-F | | Form 10-Q
| | Form N-SAR
For the Fiscal Year Ended: March 31, 2000
| | Transition Report on Form 10-K | | Transition Report on Form 10-Q
| | Transition Report on Form 20-F | | Transition Report on Form N-SAR
| | Transition Report on Form 11-K
For the Transition Period Ended:__________________________________________
PART I
REGISTRANT INFORMATION
Full name of registrant: Elcotel, Inc.
Former name if applicable: N/A
Address of principal executive office (Street and number): 6428 Parkland Drive
City, state and zip code: Sarasota, Florida 34243
<PAGE>
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 Rule12b-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.
The Form 10-K for the fiscal year ended March 31, 2000 could not be filed
within the prescribed time period without unreasonable effort or expense as a
result of a delay, resulting from recent staff turnover, by the Registrant's
accounting staff in completing various financial information required in
connection with the audited financial statements required to be included in the
Form 10-K. The Form 10-K is currently being prepared and will be filed no later
than July 14, 2000.
PART IV
OTHER INFORMATION
(1) Name and telephone number of person to contact in regard to this
notification.
William H. Thompson (941) 758-0389
--------------------------------------------------------------------------------
(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
-2-
<PAGE>
(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?
|X| Yes | | No
On June 26, 2000, the Registrant announced a net loss for the fiscal year
ended March 31, 2000 of $11,188,000 compared to net income of $361,000 for the
fiscal year ended March 31, 1999. This loss is primarily due to: (1) a decrease
in net sales and revenues of approximately $17,968,000 primarily resulting from
industry conditions; (2) the Registrant's investment in the development of its
Internet terminal appliances and related business; (3) restructuring charges of
$733,000; and (4) an increase in the valuation allowance for deferred tax
assets, which resulted in income tax expense of $3,286,000 on a pre-tax loss of
$7,902,000.
Elcotel, Inc.
-------------
Has caused this notification to be signed on its behalf by the undersigned
thereunto duly authorized.
Date: June 29, 2000 By: /S/ William H. Thompson
---------------------------------------
William H. Thompson,
Senior Vice President and Secretary
-3-
