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UNITED STATES | OMB APPROVAL |
SECURITIES AND EXCHANGE COMMISSION +--------------+
Washington, D.C. 20549 | OMB Number: |
| 3235-0058 |
FORM 12b-25 | Expires: |
| May 31, 1997 |
NOTIFICATION OF LATE FILING | Estimated |
|average burden|
(Check One): [X] Form 10-K [ ] Form 20-F [ ] Form 11-K | hours per |
[ ] Form 10-Q [ ] Form N-SAR |response..2.50|
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For Period Ended: December 31, 1997 +--------------+
________________________ | SEC File No. |
[ ] 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 | CUSIP No. |
| |
For the Transition Period Ended: ____________________________ +--------------+
[ Read Instruction (on back page) 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:
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PART I - REGISTRANT INFORMATION
Trikon Technologies, Inc.
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Full Name of Registrant
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Former Name if Applicable
Ringland Way
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Address of Principal Executive Office (Street and Number)
Newport, Gwent NP6 2TA United Kingdom
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City, State and Zip Code
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)
[X] | (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, 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 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.
PART III - NARRATIVE
State below in reasonable detail the reasons why Forms 10-K, 20-F, 11-K, 10-Q,
N-SAR, or the transition report or portion thereof, could not be filed within
the prescribed time period.
(Attach Extra Sheets if Needed)
Please see attachment to this Form 12b-25.
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PART IV - OTHER INFORMATION
(1) Name and telephone number of person to contact in regard to this
notification.
Jeremy Linnert 011 441 633414 000
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(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 answer is
no, identify report(s). [X] Yes [ ] No
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(3) Is it anticipated that any significant changes 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.
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Trikon Technologies, Inc.
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(Name of Registrant as Specified in Charter)
has caused this notification to be signed on its behalf by the undersigned
hereunto duly authorized.
Date 03/31/98 By /s/ Jeremy Linnert
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Acting 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 Regulation S-T ((S)232.201 or (S)232.202 of this chapter) or
apply for an adjustment in filing date pursuant to Rule 13(b) of Regulation
S-T ((S)232.13(b) of this chapter).
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TRIKON TECHNOLOGIES, INC.
Attachment to Form 12b-25
Part III - Narrative
In November 1997, the Company initiated a significant restructuring of its
Etch Division based in Chatsworth, California. The restructuring has entailed
transferring the operations of its Etch Division to the United Kingdom,
terminating approximately 13% of its worldwide workforce and licensing its MORI
source and Forcefill PVD technologies to Applied Materials, Inc. In addition, in
December 1997, the then Chief Executive Officer and principal financial officer
of the Company, Dr. Gregor A. Campbell, resigned. Several other executive
officers of the Company resigned in January 1998, including the then Director of
Finance and Administration, Craig Montesanto. Managing the restructuring and the
management transition has consumed a significant amount of time and effort of
the Company's present management.
The Company has used its best efforts to complete the Form 10-K in a timely
manner; however, due to the above described circumstances the Company is unable
to complete the Form 10-K in time to file in a timely manner without
unreasonable effort or expense. The Company believes that the Form 10-K will be
completed within the fifteen day extension period permitted by Rule 12b-25.
Part IV-(3)
The Company estimates that its total revenues for the year ended December
31, 1997 were approximately $85 million, which includes $29.5 million in license
revenues from the sale of non-exclusive, paid-up licenses of the Company's MORI
source and Forcefill PVD technologies to Applied Materials. The Company reported
$42.2 million in total revenues for year ended December 31, 1996. The Company
expects that its net loss per share (basic and diluted) for the year ended
December 31, 1997 will be between ($6.50) and ($7.00). This compares to a
reported net loss per share (basic and diluted) for year ended December 31, 1996
of ($10.03). The loss during the year ended December 31, 1997 includes
substantial charges for restructuring and impairment write-downs of certain
tangible and intangible assets as a result of the restructuring of the Company,
and reflects the costs associated with the closure of the Etch Division
operations in Chatsworth, California and the reorganization of worldwide
operations of the Company, partially offset by the revenues realized on the sale
of licenses. The loss during the year ended December 31, 1996 includes a charge
of approximately $86.0 million for purchased in-process research and development
resulting from the acquisition of Electrotech Limited and Electrotech Equipments
Limited by the Company in November 1996.
1.
