SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC
FORM 12b-25
Commission File Number 0-22340
NOTIFICATION OF LATE FILING
(Check One): [X]Form 10-K [ ]Form 11-K [ ]Form 20-F [ ]Form 10-Q [ ]Form N-SAR
For Period Ended December 31, 1997
[ ] Transition Report on Form 10-K [ ] Transition Report on Form 10-Q
[ ] Transition Report on Form 20-K [ ] Transition Report on Form N-SAR
[ ] Transition Report on Form 11-K
For the Transition Period Ended:
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:
PART I. REGISTRANT INFORMATION
Full name of registrant: Palomar Medical Technologies, Inc.
Former Name (if applicable):
Address of principal executive office
(Street and number): 45 Hartwell Avenue
City, State and Zip Code: Lexington, Massachusetts 02173
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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 appropriate box.)
[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, 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.)
Palomar Medical Technologies, Inc. (the "Company") is unable to meet
its filing deadline for the Form 10-K for the year ended December 31, 1997
without unreasonable effort or expense. The Company has requested further advice
from its accountants, legal counsel and unrelated third parties regarding
certain matters which impact the Company's Form 10-K and financial disclosure to
be included therein. As such, the Company is requesting an extension on this
Form 12b-25. The Company intends to file the Form 10-K within the time period
specified by Rule 12b-25 of the Securities Exchange Act of 1934, as amended.
PART IV. OTHER INFORMATION
(1) Name and telephone number of person to contact in regard to this
notification:
Joseph P. Caruso (781)676-7357
Chief Financial Officer
(2) Have all other periodic reports required under Section 13 or 14(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
potion 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 currently anticipates that its loss from continuing
operations will be approximately $58.4 million for the year ended December 31,
1997 as compared with a loss from continuing operations of $20.8 million for the
year ended December 31, 1996, and that its loss from discontinued operations
will be approximately $27.4 million for the year ended December 31, 1997 as
compared with a loss from discontinued operations of approximately $7 million
for the year ended December 31, 1996. The Company also currently anticipates
that it will have a net loss of approximately $85.8 million for the year ended
December 31, 1997 as compared with the net loss of $37.9 million for the year
ended December 31, 1996. Finally, the Company currently anticipates that its
revenues from continuing operations will be approximately $21 million for the
year ended December 31, 1996 as compared with revenues from continuing
operations of $17.6 million for the year ended December 31, 1996.
<PAGE>
PALOMAR MEDICAL TECHNOLOGIES, INC.
(Name of registrant as specified in charter)
Has caused this notification to be signed on its behalf by the undersigned
thereunto duly authorized.
Date: March 27, 1998 By: /s/ Joseph P. Caruso
---------------------------------
Joseph P. Caruso
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).
