-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, L3VAwMVBsT87Exu+3jngwT3v+8prnB6opuxQQq/B7KjI0a+7PfWzl3mSR0ULVfqq 2U6BcYZcYKY+SeZcdtD7SQ== 0000912057-00-024975.txt : 20000517 0000912057-00-024975.hdr.sgml : 20000517 ACCESSION NUMBER: 0000912057-00-024975 CONFORMED SUBMISSION TYPE: NT 10-Q PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20000427 FILED AS OF DATE: 20000516 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PRECEPT BUSINESS SERVICES INC CENTRAL INDEX KEY: 0001051285 STANDARD INDUSTRIAL CLASSIFICATION: WHOLESALE-PAPER AND PAPER PRODUCTS [5110] IRS NUMBER: 752487353 STATE OF INCORPORATION: TX FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: NT 10-Q SEC ACT: SEC FILE NUMBER: 000-23735 FILM NUMBER: 636260 BUSINESS ADDRESS: STREET 1: 1909 WOODALL ROGERS FREEWAY STREET 2: STE 500 CITY: DALLAS STATE: TX ZIP: 75201 BUSINESS PHONE: 2147546000 MAIL ADDRESS: STREET 1: PO BOX 219008 CITY: DALLAS STATE: TX ZIP: 75201 NT 10-Q 1 FORM 12B-25 UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 12b-25 NOTIFICATION OF LATE FILING (CHECK ONE): / /Form 10-K / /Form 20-F / /Form 11-K /X/Form 10-Q / /Form N-SAR For Period Ended: March 31, 2000 -------------------------------------------- / / 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: ------------------------------ - ------------------------------------------------------------------------------- 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: - ------------------------------------------------------------------------------- PART I -- REGISTRANT INFORMATION Precept Business Services, Inc. - ------------------------------------------------------------------------------- Full Name of Registrant N/A - ------------------------------------------------------------------------------- Former Name if Applicable 1909 Woodall Rodgers Freeway, Suite 500 - ------------------------------------------------------------------------------- Address of Principal Executive Office (Street and Number) Dallas, Texas 75201 - ------------------------------------------------------------------------------- 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; (b) The subject annual report, semi-annual report, transition report on Form 10-K, Form 20-F, 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 /X/ (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 Forms 10-K, 11-K, 10-Q, N-SAR, or the transition report or portion thereof, could not be filed within the prescribed time period. The Registrant was unable to file its Quarterly Report on Form 10-Q within the prescribed due to recent significant turnover in the Registrant's Transportation Division financial accounting department. In addition, the Registrant lost at least one business day due to the information system problems created by the "I Love You" software virus. PART IV -- OTHER INFORMATION (1) Name and telephone number of person to contact in regard to this notification William W. Solomon, Jr., Executive Vice President and Chief Financial Officer 214 754-6620 ---------------------------------- ----------------- ---------------------- (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 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. Shown below are the condensed consolidated statements of operations for the three- and nine-month periods ended March 31, 2000. Due to the reasons explained in Part III above, the Registrant has not been able to complete the Form 10-Q within the required deadline. The Registrant expects to file the complete Form 10-Q by May 22, 2000. PRECEPT BUSINESS SERVICES, INC. COMBINED CONDENSED STATEMENTS OF OPERATIONS (Amounts in thousands, except per share amounts)
Three months Nine months Ended Ended March 31, March 31, 2000 1999 2000 1999 -------- -------- -------- -------- (Unaudited) CONTINUING OPERATIONS Revenue - Business Products................ $ 36,728 $ 35,096 $106,815 $103,874 Costs and expenses: Cost of goods sold....................... 24,844 23,424 71,701 71,010 Sales commissions........................ 5,195 4,881 14,712 14,005 Selling, general and administrative...... 5,919 6,051 15,839 16,551 Goodwill write-down and other non-recurring charges........... - 6,727 - 6,727 Depreciation and amortization............ 599 363 1,612 1,019 -------- -------- -------- -------- 36,557 41,446 103,864 108,312 -------- -------- -------- -------- Operating income (loss).................... 171 (6,350) 2,951 (4,438) Interest expense........................... 552 201 2,322 1,448 -------- -------- -------- -------- Income (loss) before income taxes.......... (381) (6,551) 629 (5,586) Income tax provision (benefit)............. (171) (3,038) 284 (2,526) -------- -------- -------- -------- Net income (loss).......................... (210) (3,513) 345 (3,060) DISCONTINUED OPERATIONS Net income (loss) from discontinued operations, net of income tax provision (benefit)................................ (588) (6,886) 546 (6,000) Net loss from sale of discontinued operations............................... (16,500) - (16,500) - -------- -------- -------- -------- Net loss from discontinued operations...... (17,088) (6,886) (15,954) (6,000) -------- -------- -------- -------- Net income (loss).......................... $(17,298) $(10,399) $(15,609) $ (9,060) ======== ======== ======== ======== Basic net income (loss) per share: Continuing operations.................... $ (0.02) $ (0.41) $ 0.04 $ (0.37) Discontinued operations.................. (1.68) (0.81) (1.62) (0.73) -------- -------- -------- -------- Net income (loss) per share.............. $ (1.70) $ (1.22) $ (1.58) $ (1.10) ======== ======== ======== ======== Weighted average shares outstanding...... 10,153 8,512 9,859 8,208 Diluted net income (loss) per share: Continuing operations.................... $ (0.02) $ (0.41) $ 0.04 $ (0.37) Discontinued operations.................. (1.68) (0.81) (1.55) (0.73) -------- -------- -------- -------- Net income (loss) per share.............. $ (1.70) $ (1.22) $ (1.51) $ (1.10) ======== ======== ======== ======== Weighted average shares outstanding...... 10,153 8,512 10,325 8,208
- ------------------------------------------------------------------------------- Precept Business Services, 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 May 15, 2000 By /s/ William W. Solomon, Jr. --------------------------------------- ---------------------------- Executive Vice President and Chief Financial Officer -----END PRIVACY-ENHANCED MESSAGE-----