U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 12b-25
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SEC FILE NUMBER
NOTIFICATION OF LATE FILING 0-27576
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CUSIP NUMBER
236365 10 2
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(Check One): |_| Form 10-K and Form 10-KSB |_| Form 20-F |_| Form 11-K
|X| Form 10-Q and Form 10-QSB |_| Form N-SAR
For Period Ended: JUNE 26, 1999
|_| 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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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.
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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:
PART I -- REGISTRANT INFORMATION
DANSKIN, INC.
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Full Name of Registrant
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Former Name if Applicable
530 SEVENTH AVENUE
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Address of Principal Executive Office (Street and Number)
NEW YORK, NEW YORK 10018
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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)
|_| | (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 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 * (See attached Schedule A)
| (c) The accountant's statement or other exhibit required by Rule
12b-25(c) has |X| been attached if applicable.
PART III -- NARRATIVE
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. (See attached Schedule
A)
The Company is unable to file its From 10-Q within the prescribed time period
since it is in the process of finalizing the financial information contained in
the Form 10-Q and the information necessary to comply with the disclosures
required to be made therein. The delay is due to, among other factors, the
departures of the Company's most senior level financial executives. The Company
anticipates filing the Form 10-Q no later than the fifth calendar day from the
prescribed due date of such Form 10-Q.
PART IV -- OTHER INFORMATION
(1) Name and telephone number of person to contact in regard to this
notification
Donald Schupak 212 930-9117
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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
(3) Is it anticipated that any significant change in results of operation for
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.
(See Attachment A)
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DANSKIN, INC.
(Name of Registrant as specified in charter)
has caused this notification to be signed on its behalf by the undersigned
hereunto duly authorized.
Date August 11, 1999 By /s/ Donald Schupak
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Attachment A
Preliminarily, the Company anticipates that there will be a decrease of
approximately 11% and 13% in net revenues for the three and six month periods
ended June 26, 1999, respectively, versus the comparable prior year periods. The
Company realized a reduction in profitability of approximately $2.4 million and
$3.4 million for the three and six month periods ended June 26, 1999,
respectrively, versus the comparable prior year periods, which was principally
attributable to a number of factors, including higher design costs associated
with the expansion of the Company's product line beyond 'activewear' to
'everywhere,' unfavorable manufacturing variances, costs associated with the
reduction in scope of the Company's packaged apparel line (Packables), and costs
relating to the Company's rationalization of its retail operations.
