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SEC FILE NUMBER
1-7948
CUSIP NUMBER
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 12b-25
NOTIFICATION OF LATE FILING
(Check One): _ Form 10-K _ Form 20-F _ Form 11-K X Form 10-Q _ Form N-SAR
For Period Ended: April 30, 1999
[ ] 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:_________________________________________
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.
If the notification relates to a portion of the filing check above,
identify the Item(s) to which the notification relates:
PART I -- REGISTRANT INFORMATION
Full Name of Registrant
HIRSCH INTERNATIONAL CORP.
Former Name if Applicable
_________________________________
Address of Principal Executive Office (Street and Number)
200 Wireless Blvd.
Hauppauge, New York 11788
City, State and Zip Code
<PAGE>
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;
(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 of 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 Forms 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 filing of our 10-Q for the three months ended April 30, 1999 will be
delayed due to the implementation of a new computer system for HAPL Leasing Co.,
Inc., the Company's leasing subsidiary, during the first quarter. The prior
system was not Year 2000 Compliant and therefore needed to be replaced. The
purchase and implementation of the new system has required a substantial amount
of research, training of personnel, data entry, and programming. The Company
anticipates filing the Form 10-Q on or before June 21, 1999.
PART IV -- OTHER INFORMATION
(1) Name and telephone number of person to contact in regard to this
notification
Richard M. Richer (516) 436-7100
(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 answer is not,
identify report(s),
X Yes 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 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.
Revenues for the first quarter of fiscal 2000 will approximate between
$25.0 and $26.0.million, as compared to $38.5 million reported in the first
quarter of fiscal 1999. The Company cannot reasonably determine earnings for the
first quarter of fiscal 2000 as HAPL Leasing's statement of operations cannot be
completed until their new computer system is fully implemented, expected to be
completed by the week ending Friday, June 18, 1999. The completion of this
implementation is required to conclude financial reporting for the first quarter
ended April 30, 1999. The Company reported net income of $1.3 million, or $.014
per diluted share in the first quarter of fiscal 1999. The weighted average
number of shares outstanding, on a diluted basis, for the first quarter of
fiscal 2000 was 9.4 million, as compared to 9.5 million for the first quarter of
fiscal 1999.
<PAGE>
HIRSCH INTERNATIONAL CORP.
(Name of Registrant as Specified in Charter)
has caused this notification to be signed on its behalf by the undersigned
hereunto duly authorized.
Dated: June 14, 1999 By: /s/Henry Arnberg
Henry Arnberg
Chief Executive Officer
