U.S. SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C.
FORM 12b-25
NOTIFICATION OF LATE FILING SEC File Number: 1-9734
CUSIP Number
[ ] Form 10-K and Form 10-KSB [ ] Form 20-F [X] Form 10-Q and Form 10-QSB
[ ] Form N-SAR
For Period Ended: March 30, 1996 [X] 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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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
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Full Name of Registrant: Oneita Industries, Inc.
Former Name if applicable:
Address of Principal Executive Office:
4130 Faber Place Drive, Suite 200
Charleston, South Carolina 29405
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Part II - Rules 12b-25(b) and (c)
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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. [ ]
(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 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.
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Part III - Narrative
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State below in reasonable detail the reasons why 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 period.
Financial Statements Not Available
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Part IV - Other Information
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(1) Name and telephone number of person to contact in regard to this
notification:
Neil M. Kaufman, Esq. (516) 822-4820
Blau, Kramer, Wactlar & Lieberman, P.C.
(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
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.
The Company incurred a loss in its second fiscal quarter ending March 30,
1996 of $25.3 million compared to net income of $2.1 million in the second
quarter of last year. Included in the second quarter loss are charges and
expenses of approximately $19.8 million including charges to write down certain
inventories to their net realizable value, and restructuring costs related to
the shutdown of two facilities located in South Carolina and reductions in
administrative and supervisory staff. The operating loss for the second quarter
was caused by previously announced price decreases, reduced unit sales and by
high production costs caused primarily by reduced and curtailed operating
schedules.
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Oneita Industries, Inc. has caused this notification to be signed on its
behalf by the undersigned thereunto duly authorized.
Date: May 14, 1996 By:/s/William H. Boyd
William H. Boyd
Vice President
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ATTENTION
Intentional misstatements or omissions of fact constitute Federal Criminal
Violations (See 18 U.S.C. 1001).
