UNITED STATES -----------------
SECURITIES AND EXCHANGE COMMISSION SEC FILE NUMBER
Washington, D.C. 20549 1-5354
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FORM 12b-25
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NOTIFICATION OF LATE FILING CUSIP NUMBER
869716-20-9
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(Check One):[X]Form 10-K [ ]Form 20-F [ ]Form 11-K [ ]Form 10-Q [ ]Form N-SAR
For Period Ended: December 31, 1995
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[ ] 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 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
SWANK, INC.
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Full Name of Registrant
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Former Name if Applicable
6 Hazel Street
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Address of Principal Executive Office (Street and Number)
Attleboro, Massachusetts 02703
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City, State and Zip Code
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
[X] 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
12-b-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.
SEE ATTACHED SHEET - NOTE A
(Attach Extra Sheets if Needed)
<PAGE>
PART IV -- OTHER INFORMATION
(1) Name and telephone number of person to contact in regard to this
notification
Andrew C. Corsini, Senior Vice President
and Chief Financial Officer 508 222-3400
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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 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 results cannot be made.
SEE ATTACHED SHEET - NOTE B
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SWANK, 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 March 28, 1995 By /s/ Andrew C. Corsini
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Andrew C. Corsini, Senior Vice President and
Chief Financial Officer
<PAGE>
FORM 12b-25 OF SWANK, INC.
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NOTE A - SUPPLEMENT TO PART III
The Registrant is unable to file its Annual Report on Form 10-K for its
fiscal year ended December 31, 1995 (the "Form 10-K") on or before the
prescribed due date of March 30, 1995. The Registrant is in the process of
completing negotiations of the terms of a refinancing of its bank indebtedness,
which is expected to be completed no later than the fifteenth calendar day after
the prescribed due date for the Form 10-K. The Registrant believes that the
effect on the financial statements and financial statement footnotes, as well as
the narrative disclosures (including Management's Discussion and Analysis and
Results of Operations), to be contained in the Form 10-K will be material. The
Registrant expects to file the Form 10-K on or before April 14, 1996.
NOTE B - SUPPLEMENT TO PART IV
On February 22, 1996, the Registrant issued a press release announcing,
among other things, results of operations for its fiscal year ended December 31,
1995. The Registrant reported revenue of $140,102,000 for the year ended
December 31, 1995 ("fiscal 1995") compared to $143,496,000 for the year ended
December 31, 1994 ("fiscal 1994"), a decrease of $3,394,000. The Registrant also
reported a net loss of $8,944,000 for fiscal 1995, compared to net earnings of
$5,572,000 for fiscal 1994. The net loss in fiscal 1995 reflected decreased
margins and increased returns compared to fiscal 1994, primarily as a result of
continued weakness in consumer interest in the Registrant's fashion jewelry
lines and a shift in emphasis to more competitively priced career oriented
products.
