04-14-03A
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D. C. 20549
FORM 12B-25/A
Amendment Number 1 SEC FILE NUMBER
NOTIFICATION OF LATE FILING 0-21068
CUSIP NUMBER
(Check One): [x]Form 10K [ ]Form 20-F [ ]Form 11-K
[ ]Form 10-Q [ ]Form N-SAR [ ] Form N-CSR
For Period Ended: December 28, 2002
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[ ] 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: _____________________
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
Sight Resource Corporation
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Full Name of Registrant
Former Name if Applicable
6725 Miami Avenue
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Address of Principal Executive Office (Street and Number)
Cincinnati, Ohio 45243
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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, Form N-SAR or Form N-CSR, or portion
thereof, will be filed on or before the fifteenth calendar 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 - OTHER INFORMATION
State below in reasonable detail the reasons why Forms 10-K, 20-F, 11-K, 10-Q,
N-SAR, N-SCR, or the transition report portion thereof, could not be filed
within the prescribed time period.
The Company reported on Form 12b-25 filed with the Commission on March 28,
2003 that the Company would be unable to file its Annual Report on Form 10-
K for the year ended December 28, 2002 within the prescribed time period
(that is, by March 28, 2003). The Company anticipated, however, that it
would be able to file the Report within 15 days after March 28.
The Company continues to be unable to file the Report due to the fact that
its financial statements for the year ended December 28, 2002 have not yet
been finalized. While the accounting for the refinancing transaction
consummated on December 31, 2002 (as reported on the Company's Form 8-K
filed with the Commission on January 10, 2003) has largely been completed,
other steps in the preparation of the year-end statements have not been
finalized. There will be charges for asset impairment under SFAS Nos. 142
and 144, but the amount of those charges (presently estimated to be between
$2,700,000 and $3,300,000) has not yet been determined. In addition, the
Company is still in the process of finalizing various accounting entries
and completing other steps required for the year-end closing.
The Company presently anticipates that its Annual Report on Form 10-K for
the year ended December 28, 2002 will be filed during the week of April 28,
2003. While not anticipated, it is possible that the filing could be
further delayed.
PART IV - OTHER INFORMATION
(1) Name and telephone number of person to contact in regard to this
notification
Duane D. Kimble, Jr. 513 527-9705
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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 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 currently estimates that it will report, for the full year
ended December 28, 2002, a net loss attributable to common shareholders in
the range of $6,700,000 to $7,500,000, inclusive of the asset impairment
charges estimated in the range of $2,700,000 to $3,300,000. By way of
comparison, the Company sustained a net loss attributable to common
shareholders of $6,237,000 during the year ended December 29, 2001. The
Company remains in compliance with its debt agreements.
As described in the Company's Report on Form 8-K filed with the Commission
on January 10, 2003, the Company completed a refinancing transaction on
December 31, 2002 (three days after the end of the Company's fiscal year).
As reported on the Form 8-K, the refinancing transaction resulted in gain
to the Company from extinguishment of debt. The estimated gain in the
amount of approximately $2,300,000 after deduction of applicable expenses
will be recognized during the Company's first fiscal quarter of 2003.
Sight Resource 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
hereunto duly authorized.
Date April 14, 2003 By /s/ Duane D. Kimble, Jr.
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Duane D. Kimble, Jr.
Vice President and
Chief Financial Officer
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