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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 12b-25
NOTIFICATION OF LATE FILING
Commission File Number 0-20678
(Check One):
[ ] Form 10-K [ ] Form 20-F [ ] Form 11-K [X] Form 10-Q [ ] Form N-SAR
For Period Ended: November 30, 1996
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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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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: N/A
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PART I -- REGISTRANT INFORMATION
Full Name of Registrant Physicians Clinical Laboratory, Inc.
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Former Name if Applicable N/A
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Address of Principal Executive Office (Street and Number)
2495 Natomas Park Drive, Suite 600
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City, State and Zip Code Sacramento, California 95833
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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 Rules 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, 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
State below in reasonable detail the reasons why the 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 time period.
The registrant, whose fiscal quarter ended November 30, 1996, is not able to
file its quarterly report on Form 10-Q within the prescribed time period
because the registrant has been unable to timely finalize financial statements
relating to such period.
PART IV--OTHER INFORMATION
(1) Name and telephone number of person to contact in regard to
this notification
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Richard M. Brooks (916) 648-3517
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(Name) (Area Code) (Telephone Number)
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(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).
See Exhibit A, attached hereto. [ ] Yes [X] 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 of portion thereof?
See Exhibit A, attached hereto. [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.
Physicians Clinical Laboratory, 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
thereunto duly authorized.
Date January 15, 1997 By:/s/ RICHARD M. BROOKS
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Richard M. Brooks
Senior Vice President
Chief Financial Officer
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EXHIBIT A
PART IV - OTHER INFORMATION
(3) The registrant will report losses for its fiscal quarter ended November
30, 1996. The precise amount of such losses has not been determined at this
time. Based upon preliminary unaudited estimates, however, such losses will be
approximately $6.8 million. The registrant's operating results were adversely
affected by, among other factors, downward pressure on reimbursement revenues,
billing system/process challenges, accounts receivable collection problems and
effects and changes in the health care industry. Based upon preliminary
unaudited estimates, the registrant expects to report a net loss of
approximately $65.9 million for the fiscal quarter ended August 31, 1996. As
previously disclosed in the Company's Current Report on Form 8-K filed on
October 21, 1996, the Company expects to file its Quarterly Report on Form 10-Q
for the quarterly period ended August 31, 1996 as promptly as possible.
