UNITED STATEMENTS
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.
FORM 12b-25
NOTIFICATION OF LATE FILING
SEC FILE NUMBER: 0-21932
CUSIP NUMBER: 129905 10 5
(Check One):
/X/ Form 10-K / / Form 11-K / / Form 20-F / / Form 10-Q / / Form N-SAR
For Period Ended: June 30, 1996
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:
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PART I - REGISTRANT INFORMATION
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Full Name of Registrant
CALIFORNIA CULINARY ACADEMY, INC.
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Former Name if Applicable
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Address of Principal Executive Office (Street and Number)
625 Polk Street
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City, State and Zip Code
San Francisco, California 94102
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PART II - RULES 12b-25(b) AND (c)
(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 or semi-annual report/portion thereof
will be filed on or before 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.
Not Applicable
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PART III - NARRATIVE
State below in reasonable detail the reasons why the Form 10-K, 11K, 20-F, 1000-
Q or N-SAR or portion thereof could not be filed within the prescribed time
period. (Attach Extra Sheets if Needed)
See Rider Attached
________________________________________________________________________________
PART IV - OTHER INFORMATION
(1) Name and telephone number of persons to contact in regard to this
notification
Robert A. Stoffregen (415) 292-8224
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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
(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.
CALIFORNIA CULINARY ACADEMY, INC.
(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 30, 1996. By: /s/ Robert A. Stoffregen
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Chief Financial Officer
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CALIFORNIA CULINARY ACADEMY, INC.
RIDER TO FORM 12B-25
Date September 30, 1996
RESPONSE TO PART III
The preparation of the financial statements of California Culinary
Academy, Inc. (the "Registrant") will not be completed by September 30, 1996,
the last day for a timely filing of its Annual Report on Form 10-KSB for the
fiscal year ended June 30, 1996, pursuant to Rule 0-2 of the General Rules
and Regulations under the Securities Exchange Act of 1934.
During the fiscal year ended June 30, 1996, the Registrant made
significant management changes. In addition, effective July 17, 1996, the
Registrant appointed new independent public accountants to audit its
financial statements for the fiscal year ended June 30, 1996. As a result,
the Registrant requires additional time to gather the necessary information
to prepare the financial statements.
QUESTION (3), PART IV EXPLANATION
During the fiscal year ended June 30, 1996, the Academy incurred a net
loss from operations of $999,000 compared to net income of $151,000 during
the same period during the prior fiscal year.
The primary causes of the change in results of operations between the
two periods are as follows: (i) during the fiscal year ended June 30, 1996,
certain costs were incurred in connection with the severance of the Academy's
former president. The Academy expensed approximately $220,000 in such
severance costs; (ii) during the fiscal year ended June 30, 1996, the Academy
made additions to its reserves for bad debts of approximately $100,000 over
and above its normal allowances in order to provide for adequate reserves for
uncollectible student accounts receivable which management believed were
necessary given recent changes to its admissions department and changes to
its admissions procedures; (iii) during the fiscal year ended June 30, 1996,
certain costs were incurred in connection with the pursuit of new business
ventures relating to the acquisition of the New York Restaurant School, Inc.
and the operation of a school within the Broadway department stores. Both
such ventures were terminated during the fiscal year, and approximately
$140,000, in the aggregate, for unrecovered costs incurred in connection with
such efforts was expensed; (iv) tuition revenues were approximately $525,000
lower during the fiscal year ended June 30, 1996 than the prior year. This
reduction is primarily attributable to a decrease in the number of students
enrolling during the later part of the fiscal year ended June 30, 1996.
Management has made significant changes to the enrollment management process
and to the structure of its education program which have resulted in a
reversal of this trend; however, the lower student enrollments during this
earlier period has had a depressive effect on revenues. Since costs for
education are largely fixed, this has resulted in a significant decrease in
net income for the fiscal year ended June 30, 1996.
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