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SEC FILE NUMBER
33-18978
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CUSIP NUMBER
879165207
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 12b-25
NOTIFICATION OF LATE FILING
(Check One): |X| Form 10-K | | Form 20-F | | Form 11-K | | Form 10-Q
| | Form N-SAR
For the Period Ended: March 31, 2000
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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
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Full Name of Registrant:
Tel-Instrument Electronics Corp.
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Former name if applicable:
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Address of Principal Executive Office (Street and number):
728 Garden Street, Carlstadt, New Jersey 07072
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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;
|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 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 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 is awaiting information to incorporate into its Form 10-K. As
such the Company will not be able to file on time without unreasonable
effort.
(Attach Extra Sheets if Needed)
<PAGE>
PART IV -- OTHER INFORMATION
(1) Name and telephone number of person to contact in regard to this
notification.
Joseph P. Macaluso (201) 933-1600
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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 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.
(See attached press release)
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Tel-Instuments Electronics Corp.
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(Name of Registrant as Specified in Charter)
has caused this notification to be signed on its behalf by the undersigned
thereunto duly authorized.
Date: 6/30/2000 By: /s/ Joseph P. Macaluso
---------------------------------
Joseph P. Macaluso
Principal Accounting Officer
INSTRUCTION: The form may be signed by an executive officer of the registrant or
by any other duly authorized representative. The name and title of the person
signing the form shall be typed or printed beneath the signature. If the
statement is signed on behalf of the registrant by an authorized representative
(other than an executive officer), evidence of the representative's authority to
sign on behalf of the registrant shall be filed with the form.
-----------------------------------ATTENTION -----------------------------------
Intentional misstatements or omissions of fact constitute Federal Criminal
Violations (See 18 U.S.C. 1001).
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General Instructions
1. This Form is Required by Rule 12B-25 (17CFR 240.12B-25) of the General
Rules and Regulations Under the Securities Exchange Act OF 1934.
2. One signed original and four conformed copies of this form and amendments
thereto must be completed and filed with the Securities and Exchange
Commission, Washington, D.C. 20549, in accordance with Rule 0-3 of the
General Rules and Regulations under the Act. The information contained in
or filed with the form will be made a matter of public record in the
Commission files.
3. A manually signed copy of the form and amendments thereto shall be filed
with each national securities exchange on which any class of securities of
the registrant is registered.
4. Amendments to the notifications must also be filed on form 12b-25 but need
not restate information that has been correctly furnished. The Form shall
be clearly identified as an amended notification.
<PAGE>
[Logo]Tel-Instrument Electronics Corp
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Tel-Instrument Electronics Corp Announces Year End Results
Carlstadt, NJ-June 29, 2000-Tel-Instrument Electronics Corp today announced its
financial results for the year ended March 31, 2000;
Years Ended March 31,
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2000 1999
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Sales $5,130,782 3,484,499
Net Income (Loss) Before Taxes 358,958 (244,266)
Benefit From Income Taxes 241,595 97,585
Net Income (Loss) $ 600,553 (146,681)
Net Income (Loss) Per Share, Diluted $ 0.28 (0.07)
Weighted Average Shares
Outstanding, Diluted 2,146,402 2,101,264
For the year ended March 31, 2000 sales increased 47% to $5,130,782 as compared
to $3,484,499 in the previous fiscal year. Net income before taxes was $358,958
for fiscal year 2000 as compared to a loss of $244,266 for the prior year. .
In the first quarter of fiscal year 2001, the Company began shipping AN/APM
480's to the U.S. Navy and also shipped all of the T-76 Ramp Test Sets under the
contract with M.P.G. Instruments for Marconi Communications.
The Company also has received an order for commercial avionics test sets
exceeding $900,000 from a major freight carrier through a domestic distributor.
Management continues to be positive about the future as a result of the dollar
value of the backlog, which currently exceeds $16,000,000, the increase in
commercial sales, the progress on the U.S. Navy contract, and the efforts of its
U.S. and international distributors.
Tel-Instrument Electronics Corp designs, manufactures and sells test equipment
to the general aviation, commercial aviation, and government/military aviation
markets, both domestically and internationally. The Company's stock is traded in
the NASDAQ System under the symbol TINE.
Contact: Mr. Joseph P. Macaluso Telephone: 201-933-1600
