SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 12b-25
Commission File Number: 0001-000052
NOTIFICATION OF LATE FILING
|_| Form 10-K |_| Form 11-K |_| Form 20-F |X| Form 10-Q |_| Form N-SAR
For Period Ended: March 31, 1999
|_| Transition Report on Form 10-K |_| Transition Report on Form 10-Q
|_| Transition Report on Form 20-F |_| Transition Report on Form N-SAR
|_| Transition Report on Form 11-K
For Transition Period Ended: Not applicable.
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
Full name of registrant: Sunbeam Corporation
Former name, if applicable: Not Applicable
Address of principal executive office: 2381 Executive Center Drive
City, state and zip code: Boca Raton, Florida 33431
PART II
RULE 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 reason described in detail in Part III of this form could
not be eliminated without unreasonable effort or expense;
[ ]
(b) The subject annual report, semi-annual report, transition
report on Form 10-K, 20-F, 11-K or Form N-SAR, or portion
thereof will be filed on or before the 15th day following the
prescribed due date; or the subject quarterly report or
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,
20-F, 10-Q, N-SAR or the transition report portion thereof could not be
filed within the prescribed time period.
Sunbeam Corporation (the "Company") completed and filed its 1998
annual report on Form 10-K with the Commission on May 11, 1999. The delay
in filing the 1998 annual report on Form 10-K resulted primarily from
changes in the Company's management, changes in the Company's auditors and
the Company's restatement of its financial statements for the 1997 fiscal
year and for the fourth quarter of 1996 and the first quarter of 1998, all
of which have been previously detailed in the Company's filings with the
Commission. Both the Company's management and its auditors allocated
substantial resources to these efforts. In addition, the Company filed on
May 13 and May 14, respectively, amendments to the Company's pending
registration statements filed with the Commission on Form S-1 and Form S-4.
As a result of the significant time and effort expended by the
Company's management and its outside auditors in connection with the
preparation of the filings referred to above and because the Company is
still in the process of completing the analysis of its results of
operations for the first quarter of 1999, the Company will not be in a
position to file timely its Quarterly Report on Form 10-Q for the fiscal
quarter ended March 31, 1999.
PART IV
OTHER INFORMATION
(1) Name and telephone number of person to contact in regard to this
notification:
Janet G. Kelley (561) 912-4438
(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.
The Company is still in the process of completing the analysis of its
results of operations for the quarter ended March 31, 1999. Based on the
Company's results of operations for the quarter ended March 31, 1998,
however, it appears that the earnings statements contained in the Company's
Quarterly Report on Form 10-Q for the fiscal quarter ended March 31, 1999
may reflect significant changes in the Company's results of operations from
the corresponding period in the prior fiscal year. The Company is working
with Deloitte & Touche LLP to review the Company's financial records and
quantify the amount of any change from the corresponding period in the
prior fiscal year. Until this review is completed, however, no estimate can
be made of the extent to which the Company's results of operations will
deviate from those reported during the corresponding period in the prior
fiscal year.
Sunbeam Corporation
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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: May 17, 1999 By: /s/ Bobby Jenkins
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Bobby Jenkins
Executive Vice President and
Chief Financial Officer