UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): February 1, 2005
CONCORD CAMERA CORP.
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(Exact name of registrant as specified in its charter)
New Jersey 13-3152196
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(State or other jurisdiction (I.R.S. Employer
of incorporation) Identification Number)
0-17038
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(Commission File Number)
4000 Hollywood Boulevard, 6th Floor North Tower, Hollywood, Florida 33021
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (954) 331-4200
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions:
[ ] Written communications pursuant to Rule 425 under the Securities Act
(17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act
(17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))
ITEM 3.01. NOTICE OF DELISTING OR FAILURE TO SATISFY A CONTINUED LISTING RULE
OR STANDARD; TRANSFER OF LISTING.
Concord Camera Corp. ("Concord" or "Company") today announced a further
delay in the issuance of its results for the first quarter of Fiscal 2005, which
ended October 2, 2004, and a delay in the issuance of its results for the second
quarter of Fiscal 2005, which ended January 1, 2005. As previously announced, in
August 2004, the Company converted its management information systems from its
existing legacy systems to a new worldwide, fully integrated Enterprise Resource
Planning ("ERP") software system which supports virtually every area of the
Company's operations. The implementation of the new ERP system resulted in
inefficiencies and delays in providing certain information necessary to complete
the Company's Quarterly Report on Form 10-Q for the first quarter of Fiscal 2005
("First Quarter 10-Q"). The Company has made substantial improvements in
operating the new ERP system, but continues to experience some inefficiencies
and delays with the system. The delay in filing the First Quarter 10-Q will
impact the Company's ability to timely file its Quarterly Report on Form 10-Q
for the second quarter ("Second Quarter 10-Q"). The Company currently expects to
file its First Quarter 10-Q on or about February 14, 2005 and its Second Quarter
10-Q on or about March 31, 2005.
As previously announced, the Company appealed the determination of the
Nasdaq Staff to delist the Company's securities as a result of the Company's
failure to timely file its First Quarter 10-Q. In its appeal, the Company
advised Nasdaq that it expected to file its First Quarter 10-Q on or before
January 31, 2005 and requested an exception to regain compliance with the Nasdaq
listing standards. The appeal is still pending. The Company modified its request
for an exception to regain compliance with the Nasdaq listing standards and
advised Nasdaq that it expects to file its First Quarter 10-Q on or about
February 14, 2005 and its Second Quarter 10-Q on or about March 31, 2005. There
can be no assurance that the Panel will grant the Company's request.
ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS.
(c) A copy of Concord's press release dated February 1, 2005 is attached hereto
as Exhibit 99.1.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
CONCORD CAMERA CORP.
Date: February 1, 2005 By: /s/ Alan Schutzman
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Alan Schutzman,
Senior Vice President, General Counsel,
Secretary