SEC FILE NUMBER
0-6664
FORM 12b-25 U.S. SECURITES AND EXCHANGE COMMISSION CUSIP NUMBER
WASHINGTON, D.C. 20549 482724200
NOTIFICATION OF LATE FILING
(Check One)
__X__ Form 10-K _____ Form 11-K _____ Form 20-F _____ Form 10-Q
For Period Ended: June 30, 1998
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
K-tel International, Inc.
Former Name If Applicable
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Address of Principal Executive Office (Street and Number)
2605 Fernbrook Lane North
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City, State and Zip Code
Minneapolis, Minnesota 55447-4736
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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)
(a) The reasons described in reasonable detail in Part III on this form
could not be eliminated without unreasonable effort or expense;
(b) The Subject annual report/portion thereof will be filed on or before
[X] the fifteenth calendar day following the prescribed due date; or the
subject quarterly report/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 the Form 10-K, 20-F or
10-Q, or portion thereof, could not be filed within the prescribed time
period.
Financial information from material foreign subsidiaries for the quarter
ended June 30, 1998 were not received in sufficient time to consolidate
the financial results of the Company and file the 10-K by the prescribed
date.
(Attached Extra Sheets if Needed) See Attached
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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
Corey Fischer 818 223-4251
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(NAME) (AREA CODE) (TELEPHONE NUMBER)
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(2) Have all other periodic reports required
(under Section 13 or 15(d) of the
Securities Exchange Act of 1934) during the
preceding 12 months (or for such shorter
period that the registrant was required to __X__ YES _____ NO
files such reports) been filed? If answer
is no, identify report(s)
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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?
If so, attach an explanation of the __X__ YES _____ NO
anticipated change, both narratively and
quantitatively, and, if appropriate, state
the reasons why a reasonable estimate of
the results can not be made.
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K-tel International, 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 thereunto duly authorized.
Date September 28, 1998 By /s/ Corey Fischer
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ATTENTION
Intentional misstatements or omissions of fact constitute Federal
Criminal Violations (See 18 U.S.C. 1001)
Attachment to form 12b-25
K-tel International, Inc.
For the period ended June 30, 1998
Part IV - Other information
(3) Consolidated net sales for the year ended June 30, 1998 are estimated at
$85,626,000 with an estimated operating loss of $2,500,000 and an estimated net
loss of $2,400,000 or $.31 per basic and diluted share. Consolidated net sales
for the prior year were $75,501,000 with operating income of $3,582,000 and net
income of $3,204,000 or $.43 per basic and $.41 per diluted share.