U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
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FORM 12b-25
NOTIFICATION OF LATE FILING
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[ ] Form 1O-K [ ] Form 20-F [ ] Form 11-K [X] Form 10-Q [ ] Form N-SAR
For the Period Ended: September 30, 1997
[ ] 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:
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Part I-Registrant Information
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Full Name of Registrant: Consolidated Stainless, Inc.
Former Name if Applicable: N/A
Address of Principal Executive
Office (Street and Number): 1601 East Amelia Street
City, State and Zip Code: Orlando, Florida 32803
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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, Form 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-K, 11-K, 10-Q,
N-SAR, or the transition report or portion thereof could not be filed within the
prescribed period.
Due to the discussions with the Company's major lenders regarding proposed
changes to certain covenants in their respective loan agreements, the
Registrant requires additional time to file Form 10-Q for the period ended
September 30, 1997.
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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:
Burton R. Chasnov (407) 896-4000
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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 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 statement 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.
The Registrant anticipates a significant change in the results of
operations from the corresponding periods in the previous fiscal year. For
the three months ended September 30, 1996, the Company reported a net loss
of $324,754. For the three months ended September 30, 1997, the Registrant
expects to report a net loss of approximately $3,265,000. The primary
reasons for the loss are a write-down in the value of goodwill related to
the sale of certain assets of the Flow Components division, the
re-evaluation of the deferred tax asset account, narrower gross profit
margins and higher interest costs.
Consolidated Stainless, Inc.
(Exact Name of Registrant as Specified in Charter)
has caused this notification to be signed on its behalf by the undersigned
thereunto duly authorized.
Date: November 11, 1997 By:/s/Burton R. Chasnov
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Name: Burton R. Chasnov
Title: Executive Vice President & CFO
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