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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 12b-25/A COMMISSION FILE NUMBER 0-3953
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NOTIFICATION OF LATE FILING
Amendment No. 1
(Check One):
[X] Form 10-K [ ] Form 11-K [ ] Form 20-F [ ] Form 10-Q [ ] Form N-SAR
For Period Ended: June 30, 1995.
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[ ] 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: .
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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: Not applicable.
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PART I - REGISTRANT INFORMATION
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Full Name of Registrant: Sensormatic Electronics Corporation
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Former Name if Applicable: Not applicable
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Address of Principal Executive Office (Street and Number):
500 N.W. 12th Avenue
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City, State and Zip Code:
Deerfield Beach, Florida 33442
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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. (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 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, 20-F, 11-K,
10-Q, N-SAR, or the transition report or portion thereof could not be
filed within the prescribed period.
The Registrant is unable to file the subject report within the
prescribed time period because the preparation of the financial
statements to be included in the subject report, and the audit thereof,
have not been completed. This delay resulted from an expansion of the
scope of the audit to include additional procedures.
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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:
Miguel A. Flores (305) 420-2151
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(Name) (Area Code) (Telephone Number)
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<S> <C> <C> <C>
(2) Have all other periodic reports required under Section 13 or 15(d) of [X] Yes [ ] No
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).
(3) Is it anticipated that any significant change in results of operations [X] Yes [ ] No
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?
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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 Annex 1.
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SENSORMATIC ELECTRONICS CORPORATION
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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.
Dated: October 3, 1995. By /s/ Miguel A. Flores
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Miguel A. Flores
Vice President and Treasurer
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ANNEX 1
Revenues for the fiscal year ended June 30, 1995 were $889
million, an increase of 36 percent over the prior fiscal year.
Operating income decreased from $105 million in fiscal 1994 to $98
million in fiscal 1995. Net income increased from $72 million in
fiscal 1994 to $74 million in fiscal 1995. Earnings per share
declined from $1.13 to $1.02 (on 3.8 million more shares outstanding
as compared to the prior year). The earnings results were negatively
impacted by adjustments for the timing of revenue and expense
recognition, acquisition costs related primarily to the Knogo
transaction, higher expense levels, and lower than expected sales in
the Registrant's European operations.
Fourth quarter revenues were $263 million, up 38 percent from
the previous year's $191 million. Operating income decreased to $12
million from $29 million the previous year, and net income was $13
million, down from $22 million for the prior year. Earnings per share
were $0.17, compared to $0.34 for the prior year, on 5.7 million more
shares outstanding.
In addition, the Registrant's third fiscal quarter will be restated to
$218 million in revenues, $23 million in operating income, $15 million
in net income, and $0.21 in earnings per share, compared to the
previously reported $239 million of revenue, $34 million of operating
income, $24 million of net income, and $0.33 earnings per share.
This downward restatement of revenues relates primarily to
out-of-period revenue that had been prematurely recognized in the
third quarter, and has now been substantially carried forward into the
fourth quarter. In addition, third quarter expenses were increased as
a result of expensing certain items that had been inappropriately
capitalized in connection with acquisitions, primarily the Knogo
acquisition.
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ANNEX 1
SENSORMATIC ELECTRONICS CORPORATION
SUMMARY FINANCIAL INFORMATION
(IN MILLIONS, EXCEPT PER SHARE AMOUNTS)
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<CAPTION>
THREE MONTHS ENDED YEAR ENDED
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JUNE 30, JUNE 30, JUNE 30, JUNE 30,
1995 1994 1995 1994
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Revenues $262.8 $190.7 $889.5 $656.0
Operating Income $ 11.6 $ 28.9 $ 97.9 $104.8
Net Income $ 12.8 $ 22.0 $ 73.7 $ 72.1
Primary EPS $ 0.17 $ 0.34 $ 1.02 $ 1.16
Fully Diluted EPS $ 0.17 $ 0.34 $ 1.02 $ 1.13
Number of Shares Included
in the Computation of
Earnings per Common Share
Primary 73.8 65.0 72.0 61.9
Fully Diluted 74.3 68.6 72.2 68.3
</TABLE>
*/ more-
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ANNEX 1
SENSORMATIC ELECTRONICS CORPORATION
SUMMARY FINANCIAL INFORMATION
(IN MILLIONS, EXCEPT PER SHARE AMOUNTS)
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<CAPTION>
THREE MONTHS ENDED NINE MONTHS ENDED
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MARCH 31, MARCH 31, MARCH 31, MARCH 31,
1995(*) 1994 1995(*) 1994
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Revenues $217.9 $162.2 $626.6 $465.3
Operating Income $ 22.7 $ 25.1 $ 86.3 $ 75.9
Net Income $ 15.5 $ 16.4 $ 60.8 $ 50.0
Primary EPS $ 0.21 $ 0.27 $ 0.85 $ 0.82
Fully Diluted EPS $ 0.21 $ 0.26 $ 0.85 $ 0.79
Number of Shares Included
in the Computation of
Earnings per Common Share
Primary 73.8 61.2 71.4 61.0
Fully Diluted 73.8 68.5 71.5 68.3
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(*) Restated
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