UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 12b-25 SEC FILE NUMBER
000-24019
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NOTIFICATION OF LATE FILING
(Check One): [X] Form 10-K [ ] Form 11-K [ ] Form 20-F CUSIP NUMBER
[ ] Form 10-Q [ ] Form N-SAR 911384105
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For Period Ended: December 31, 1999
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Read Instructions (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:
United Road Services, Inc.
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Former Name if Applicable:
N.A.
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Address of Principal Executive Office (Street and Number):
17 Computer Drive West, Albany, New York 12205
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City, State and Zip Code:
Albany, NY 12205
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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 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.
PART III - NARRATIVE
State below in reasonable detail the reasons why the Form 10-K, 11-K, 20-F, 10-Q
or N-SAR or portion thereof, could not be filed within the prescribed time
period.
The Company is awaiting the conclusion of certain pending matters which,
depending upon their outcome, may be material to the Company and may
positively affect the year-end audited financial statements to be included in
the Form 10-K. The Company expects these matters to conclude within a short
period of time. The Company believes that, in the interest of full and best
disclosure, and depending upon the outcome of these matters, a definitive
description of these matters and their impact on the Company may be
appropriate.
The Company intends to file timely the subject Annual Report on Form 10-K
no later than the fifteenth calendar day after the due date of the report.
(Attach Extra Sheets if Needed)
PART IV - OTHER INFORMATION
(1) Name and telephone number of person to contact in regard to this
notification
Gerald R. Riordan (518) 446-0140
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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 reports) 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 the results cannot be made.
In its Form 10-K for the year ended December 31, 1999, the Company will
report 1999 revenues of $255.1 million and a net loss of $29.7 million or
($1.75) per diluted share. For the fourth quarter of 1999, the Company will
report revenues of $66.0 million and a net loss of $28.5 million or ($1.66)
per diluted share, as compared to revenues of $43.0 million and net income
of $4.7 million or $0.15 per diluted share for the fourth quarter of 1998.
The net losses for the fourth quarter and year ended December 31, 1999 were
primarily due to increased operating costs, including fuel, certain special
charges and a write-off of goodwill and assets associated with a
determination that the carrying amount of such assets may not be recoverable
based upon the future operating cash flows expected to be generated by those
assets. The Company is in the process of completing an organizational
restructuring and has implemented a number of actions designed to improve
the Company's profitability. Management anticipates that the progress of
these initiatives will begin to be seen in the Company's results of
operations for the first quarter of 2000, as compared to the fourth quarter
of 1999.
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United Road Services, 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 30, 2000 By /s/Gerald R. Riordan
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Chief Executive 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. It 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
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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 (17 CFR 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 amendment notification.