UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
COMMISSION FILE
FORM 12b-25 NUMBER
1-11596
NOTIFICATION OF LATE FILING CUSIP NUMBER
714157-10-4
(Check One): [X] Form 10-K [_]Form 20-F [_] Form 10-Q
[_] FormN-SAR [_] Form N-CSR
For Period Ended: December 31, 2007
[_] 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:
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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.
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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
Perma-Fix Environmental Services, Inc.
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Full Name of Registrant
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Former Name if Applicable
8302 Dunwoody Place, Suite 250
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Address of Principal Executive Office (Street and Number)
Atlanta, Georgia 30350
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City, State and Zip Code
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PART II -- Rules 12b-25(b) and (c)
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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;
[X] (b) The subject annual report, semi-annual report, transition report on
Form 10-K, Form 10KSB, 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 or transition
report on Form 10-Q, 10QSB 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.
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PART III -- NARRATIVE
State below in reasonable detail the reasons why Forms 10-K, 20-F, 11-K, 10-Q,
N-SAR, N-CSR, or the transition or portion thereof, could not be filed within
the prescribed time period.
The registrant will not file its Form 10-K by March 17, 2008 due to the
divestiture and pending divestiture of certain facilities/operations within its
Industrial Segment. With the many adjustments and valuations required, and the
requirement to recast prior periods consistent with the discontinued operations,
the Company requires the extension to ensure that the reported financial
statements are accurate. The registrant continues to dedicate significant
resources to the preparation of its financial statements.
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PART IV -- OTHER INFORMATION
(1) Name and telephone number of person to contact in regard to this
notification:
Steven T. Baughman 770 587-9898
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(Name) (Area Code) (Telephone Number)
(2) Have all other periodic reports 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 twelve 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.
On May 18, 2007, our Board of Directors authorized the divestiture of our
Industrial Segment. In 2007, the Industrial Segment met the held for sale
criteria under Statement of Financial Accounting Standards ("SFAS") No. 144,
"Accounting for the Impairment or Disposal of Long-Lived Assets", and therefore,
certain assets and liabilities of the Industrial Segment for current and prior
fiscal years will be presented as held for sale, and we have ceased depreciation
in 2007of the Industrial Segment's long-lived assets classified as held for
sale. The result of operations and cash flows of the Industrial Segment will be
reclassified in the Consolidated Financial Statements as discontinued operations
for all periods presented.
The registrant estimates that it will have revenues of approximately $54.1
million for fiscal year 2007 for our continuing operations, an increase of $1.3
million from revenues of $52.8 million for fiscal year 2006. The registrant
estimates that it will have revenues of approximately $30.4 million and $35.1
million for our discontinued operations for fiscal year 2007 and 2006,
respectively. Also, the registrant estimates it will have net income of
approximately $.5 million and $5.7 million for our continuing operations for
fiscal year 2007 and 2006, respectively, as compared to net loss of
approximately $10.0 million and $.9 million for fiscal year 2007 and 2006,
respectively for our discontinued operations. Our loss for the current
fiscalyear for our discontinued operations includes approximately $6.4 million
in asset impairment.
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PERMA-FIX ENVIRONMENTAL SERVICES, INC.
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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: March 13, 2008 By: /s/ Steven T. Baughman
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Steven T. Baughman
Chief Financial Officer
INSTRUCTION: The form may be signed by an executive officer of the registrant or
by any other duly authorized representative. The name and title of the person
signing the form shall be typed or printed beneath the signature. If the
statement is signed on behalf of the registrant by an authorized representative
(other than an executive officer), evidence of the representative's authority to
sign on behalf of the registrant shall be filed with the form.
ATTENTION
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Intentional misstatements or omissions of fact constitute
Federal Criminal Violations (See 18 U.S. C. 1001).
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GENERAL INSTRUCTIONS
1. This form is required by Rule 12b-25 (17 CFR 240, 12b-25) of the General
Rules and Regulations under the Securities Exchange Act of 1934.
2. One signed original and four conformed copies of this form and amendments
thereto must be completed and filed with the Securities and Exchange
Commission, Washington, D.C. 20549, in accordance with Rule 0-3 of the
General Rules and Regulations under the Act. The information contained in
or filed with the Form will be made a matter of public record in the
Commission files.
3. A manually signed copy of the form and amendments thereto shall be filed
with each national securities exchange on which any class of securities of
the registrant is registered.
4. Amendments to the notifications must also be filed on Form 12b-25 but need
not restate information that has been correctly furnished. The form shall
be clearly identified as an amended notification.
5. Electronic Filers: This form shall not be used by electronic filers unable
to timely file a report solely due to electronic difficulties. Filers
unable to submit a report within the time period prescribed due to
difficulties in electronic filing should comply with either Rule 201 or
202 of Regulation S-T (ss.232.201 or ss.232.202 of this chapter) or apply
for an adjustment in filing date pursuant to Rule 13(b) of Regulation S-T
(ss.232.13(b) of this chapter).
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