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U.S. SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 12b-25
NOTIFICATION OF LATE FILING
SEC FILE NUMBER: 000-21294
(Check One):
[X] Form 10-K and Form 10-KSB [ ] Form 20-F [ ] Form 11-K [ ] Form
10-Q and Form 10-QSB [ ] Form N-SAR
For Period Ended: March 28, 1999
[ ] Transition Report on Form 10-K and Form 10-KSB
[ ] Transition Report on Form 20-F
[ ] Transition Report on Form 11-K
[ ] Transition Report on Form 10-Q and Form 10-QSB
[ ] Transition Report on Form N-SAR
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: N/A
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Part I--Registrant Information
Full Name of Registrant: Aseco Corporation
Former Name if Applicable:
Address of Principal Executive Office:
500 Donald Lynch Boulevard, Marlboro, MA 01752
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
(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 and Form 10-KSB, 20-
F, 11-K, 10-Q and Form 10-QSB, N-SAR, or portion thereof could not be filed
within the prescribed period.
As part of recent downsizing initiatives, the Registrant has reduced its overall
staff, including accounting staff. Its available accounting staff has recently
been required to devote significant attention to efforts to renegotiate the
Registrant's senior debt facility. Consequently, the Registrant has been unable
to compile all information necessary to complete its Annual Report on Form 10-K
for the fiscal year ended March 28, 1999 and file it within the prescribed time
period without unreasonable effort or expense. The Registrant expects to file
such report within the time period permitted by Rule 12b-25 of the Securities
Exchange Act of 1934.
Part IV--Other Information
(1) Name and telephone number of person to contact in regard to this
notification
Mary R. Barletta
Vice President, Chief Financial and Accounting Officer and Treasurer
(508) 481-8896
(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 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:
It is anticipated that the Registrant's Annual Report on Form 10-K for its
fiscal year ended March 28, 1999 will reflect a decrease in the Registrant's net
sales from approximately $44 million in fiscal 1998 to approximately $19 million
in fiscal 1999, and an increase in net loss from approximately $8.1 million in
fiscal 1998 to approximately $13.7 million in fiscal 1999.
ASECO CORPORATION
has caused this notification to be signed on its behalf by the undersigned
thereunto duly authorized.
Date: June 25, 1999 ASECO CORPORATION
By: /s/ Mary R. Barletta
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Mary R. Barletta
Vice President, Chief
Financial and Accounting
Officer and Treasurer
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