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UNITED STATES | OMB APPROVAL |
SECURITIES AND EXCHANGE COMMISSION --------------------
Washington, D.C. 20549 | OMB Number: |
| 3235-0058 |
FORM 12b-25 | Expires: |
| June 30, 1994 |
NOTIFICATION OF LATE FILING | Estimated |
| average burden |
| hours per |
(Check One): [X] Form 10-K [_] Form 20-F [_] Form 11-K | response....2.50 |
[_] Form 10-Q [_] Form N-SAR --------------------
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For Period Ended: June 30, 1996 | SEC FILE NUMBER |
------------------------------------ | 0-20706 |
[_] Transition Report on Form 10-K --------------------
[_] Transition Report on Form 20-F --------------------
[_] Transition Report on Form 11-K | CUSIP NUMBER |
[_] Transition Report on Form 10-Q | XXXXXX XX X |
[_] Transition Report on Form N-SAR --------------------
For the Transition Period Ended:
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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.
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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:
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PART I--REGISTRANT INFORMATION
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Full Name of Registrant
DATA RACE, INC.
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Former Name if Applicable
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Address of Principal Executive Office (Street and Number)
12400 Network Boulevard
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City, State and Zip Code
San Antonio, Texas 78249
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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 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, 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. NOT APPLICABLE.
PART III--NARRATIVE
State below in reasonable detail the reasons why the Form 10-K, 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)
The company has contracted for additional financial labor in producing the 10-K,
but the document will not be completed in time to obtain the proper reviews with
management, auditors and lawyers.
PART IV--OTHER INFORMATION
(1) Name and telephone number of person to contact in regard to this
notification
Gregory T. Skalla 210 263-2208
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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 reports) been filed?
If the answer is no, identify report(s). [X] Yes [_] No
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(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 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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As previously released to the public, DATA RACE reported a loss of $3,882,000
for its fourth quarter ended June 30, 1996 on $3,053,000 in revenue. In the
quarter ended March 31, 1996, the Company reported a loss of $2,205,000 on
revenue of $2,026,000. The 51% increase in revenue from the prior quarter was a
result of shipments during June of custom modems under a contract with NEC
Technologies, Inc.
For its fiscal year 1996, which ended June 30, 1996, the Company reported a loss
of $8,319,000, or $1.77 per share, on revenue of $17,232,000. In the prior year,
the Company reported a profit of $31,000 on revenue of $30,381,000. The decline
in revenue from the prior year was principally due to the completion in the
first half of fiscal 1996 of the custom modem contract with IBM which provided
52% of the Company's revenue in fiscal 1995.
DATA RACE, 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 September 26, 1996 By /s/ GREGORY T. SKALLA
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Gregory T. Skalla,
Chief Financial Officer
