-----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, GreMhg7ytHymAkyhfyEK6Grtjav5HS8HFOI6dVvsOfqzZOMtLekRFDDNzad81auP wy4zHRuvwo4Te7dqGghBzQ== 0000796812-96-000001.txt : 19960216 0000796812-96-000001.hdr.sgml : 19960216 ACCESSION NUMBER: 0000796812-96-000001 CONFORMED SUBMISSION TYPE: NT 10-Q PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 19951231 FILED AS OF DATE: 19960214 SROS: NONE FILER: COMPANY DATA: COMPANY CONFORMED NAME: VICTORIA CREATIONS INC CENTRAL INDEX KEY: 0000796812 STANDARD INDUSTRIAL CLASSIFICATION: COSTUME JEWELRY & NOVELTIES [3960] IRS NUMBER: 050301429 STATE OF INCORPORATION: RI FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: NT 10-Q SEC ACT: 1934 Act SEC FILE NUMBER: 000-15238 FILM NUMBER: 96519912 BUSINESS ADDRESS: STREET 1: 1650 PALISADE AVE CITY: TEANECK STATE: NJ ZIP: 07666 BUSINESS PHONE: 2018371700 MAIL ADDRESS: STREET 1: 1650 PALISADE AVE CITY: TEANECK STATE: NJ ZIP: 07666 NT 10-Q 1 SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 12b-25 Commission File Number 0-15238 NOTIFICATION OF LATE FILING [X] Form 10-Q For the Quarter Ended: December 31, 1995 Nothing in this form shall be construed to imply that the Commission has verified any information contained herein. Part I - Registrant Information Full name of registrant: VICTORIA CREATIONS, INC. Address of principal executive office (Street and Number): 30 Jefferson Park Road City, State and Zip Code: Warwick, RI 02888 Part II - Rule 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; (b) The subject Quarterly Report on Form 10-Q will be filed on or before the fifth calendar day following the prescribed due date; Part III - Narrative State below in reasonable detail the reasons why Form 10-Q, could not be filed within the prescribed time period. As previously reported, effective July 31, 1995, the Registrant and its Parent Company each renegotiated its borrowing arrangements with its current lender. This renegotiated arrangement allowed the Registrant to build inventories for its Fall 1995 season and ship finished goods to its customers, creating accounts receivable. During the planning for the Spring season, the Registrant noted that, as a result of distribution to new private-label channels, it would need even additional funding to build inventories for its Spring 1996 season. The Registrant has been negotiating with its lender regarding the additional funding needed. The same personnel who prepare the quarterly Reports on Form 10-Q for both the Registrant and the Registrant's Parent Company have been preparing financial information relating to the discussions with the lender. Additional time is necessary to have the Form 10-Q completed and reviewed by all the Registrant's appropriate personnel to assure adequate disclosure. 1 Part IV - Other Information (1) Name and telephone number of person to contact in regard to this notification: Norman R. Forson (201) 837-1700 (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? [X] Yes [ ] No (3) Is it anticipated that any significant change in results of operations from the corresponding periods 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 Net sales for the quarter ended December 31, 1995 increased 4% over the net sales of $12.7 million reported for the prior year's quarter. Registrant will report operating income of approximately $1.05 million for the current quarter compared with an operating loss of $80,000 for the quarter ended December 31, 1994. Registrant will report net earnings of approximately $425,000 for the three months ended December 31, 1995 compared with a net loss of $977,000 for the same quarter last fiscal year. Net sales for the six months ended December 31, 1995 decreased 8% from the net sales of $27.5 million reported for the prior year's first half. Registrant will report operating income of approximately $2.3 million for the current six months, an increase of 23% over the operating income of $1.9 million for the six months ended December 31, 1994. Registrant will report net earnings of approximately $1.2 million for the six months ended December 31, 1995 compared with net earnings of $35,000 for the same period last fiscal year. VICTORIA CREATIONS, 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: February 14, 1996 By /s/ Norman R. Forson Norman R. Forson Senior Vice President and Treasurer 2 -----END PRIVACY-ENHANCED MESSAGE-----