<Page>
<Table>
-----------------------------
OMB APPROVAL
-----------------------------
UNITED STATES OMB Number:
SECURITIES AND EXCHANGE COMMISSION Expires:
Washington, D.C. 20549 Estimated average burden
hours per response . . . .
-----------------------------
FORM 12b-25
-----------------------------
SEC FILE NUMBER
NOTIFICATION OF LATE FILING 1-333-55797
-------------------------
-------------------------
(CHECK ONE): CUSIP NUMBER
/ /Form 10-K / /Form 20-F / /Form 11-K /X/Form 10-Q / /Form N-SAR
-------------------------
For Period Ended: September 29, 2001
---------------------------------------
[ ] 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:
-------------------------
</Table>
- --------------------------------------------------------------------------------
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 checked above, identify
the Item(s) to which the notification relates:
Not Applicable
- --------------------------------------------------------------------------------
PART I -- REGISTRANT INFORMATION
Elgar Holdings, Inc.
- --------------------------------------------------------------------------------
Full Name of Registrant
- --------------------------------------------------------------------------------
Former Name if Applicable
9250 Brown Deer Road
- --------------------------------------------------------------------------------
Address of Principal Executive Office (STREET AND NUMBER)
San Diego, CA 92121-2294
- --------------------------------------------------------------------------------
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, 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 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.
<Page>
PART III -- NARRATIVE
State below in reasonable detail the reasons why Form 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.
In accordance with Rule 12(b)-25(b)(2) of the Securities Exchange Act of
1934, as amended, and pursuant to Part II(b) of this Form 12b-25, the
Registrant undertakes to file its Form 10-Q within five calendar days
following the Form 10-Q's prescribed due date of November 13, 2001. The
reason for the delay in filing the Registrant's 10-Q is related to
negotiations between the Registrant and the agent under its credit facility
that are expected to conclude on or shortly after November 13, 2001, the
results of which the Registrant would like to accurately reflect in the
subsequent events footnote to the Form 10-Q.
(ATTACH EXTRA SHEETS IF NEEDED)
<Page>
PART IV -- OTHER INFORMATION
(1) Name and telephone number of person to contact in regard to this
notification
Christopher W. Kelford (858) 458-0204
-----------------------------------------------------------------------
(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). Yes /X/ 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? Yes /X/ 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.
Set forth below is a summary of the differences in net sales,
operating revenue and net loss for the nine months ended September 30,
2000 and September 29, 2001:
NET SALES. Net sales for the nine months ended September 29,
2001 were $45.5 million, a decrease of $1.6 million, or 3.4%, from net
sales of $47.1 million for the nine months ended September 30, 2000.
OPERATING INCOME. Operating income was $2.0 million for the
nine months ended September 29, 2001, a decrease of $2.7 million, or
57.4%, from operating income of $4.7 million for the nine months ended
September 30, 2000.
NET LOSS. Net loss was $6.0 million for the nine months ended
September 29, 2001, an increased loss of $2.9 million from a net loss
of $3.1 million for the nine months ended September 30, 2000.
- --------------------------------------------------------------------------------
Elgar Holdings, Inc.
----------------------------------------------------
(Name of Registrant as Specified in Charter)
has caused this notification to be signed on its behalf by the undersigned
hereunto duly authorized.
Date November 13, 2001 By /s/ Christopher W. Kelford
---------------------- -------------------------------------------------
Christopher W. Kelford
Vice President--Finance, Chief Financial Officer,
Treasurer and Assistant Secretary