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UNITED STATES ---------------------------
SECURITIES AND EXCHANGE COMMISSION OMB APPROVAL
WASHINGTON, D.C. 20549 ---------------------------
OMB Number 3235-0058
FORM 12b-25 Expires: March 31, 2006
Estimated average burden
NOTIFICATION OF LATE FILING hours per response .. 2.50
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SEC FILE NUMBER
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CUSIP NUMBER
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(Check One): [X] Form 10-K [ ] Form 20-F [ ] Form 11-K [ ] Form 10-Q
[ ] Form N-SAR [ ] Form N-CSR
For Period Ended: December 31, 2004
[ ] 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.
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
SYKES ENTERPRISES, INCORPORATED
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Full Name of Registrant
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Former Name if Applicable
400 N. ASHLEY DRIVE
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Address of Principal Executive Office (Street and Number)
TAMPA, FLORIDA 33602
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City, State and Zip Code
PART II -- RULE 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.)
[X] (a) The reason 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 20-F, Form 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 -- NARRATIVE
State below in reasonable detail why Forms 10-K, 20-F, 11-K, 10-Q, N-SAR, N-CSR,
or the transition report or portion thereof, could not be filed within the
prescribed time period.
(Attach Extra Sheets if Needed)
We are unable to timely file our Form 10-K for the year ended December
31, 2004 due to the significant amount of additional time and effort
required in complying with the new rules of the SEC adopted under the
Sarbanes Oxley Act of 2002. As a result, the inability to file in a
timely manner could not be eliminated without unreasonable effort or
expense. We expect to complete and file our Form 10-K on or about March
31, 2005.
PERSONS WHO ARE TO RESPOND TO THE COLLECTION OF INFORMATION
SEC 1344 (07-03) CONTAINED IN THIS FORM ARE NOT REQUIRED TO RESPOND UNLESS
THE FORM DISPLAYS A CURRENTLY VALID OMB CONTROL NUMBER.
PART IV -- OTHER INFORMATION
(1) Name and telephone number of person to contact in regard to this
notification
W. MICHAEL KIPPHUT 813 274-1000
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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). Yes [X] No [ ]
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(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? Yes [X] 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.
Income before provision for income taxes for the year ended December 31,
2004 of $15.9 million increased $1.9 million, from $14.0 million for the
year ended December 31, 2003. This increase was primarily due to a net
gain on a property insurance settlement of $5.4 million in 2004, an
increase in the net gain on disposal of property and equipment of $5.3
million and an increase in other income of $0.7 million offset by a
decrease in the gross margin of $4.8 million primarily related to the
client migration of customer call volumes from the U.S. to higher margin
offshore operations and the resulting mix-shift in revenues from the U.S.
to offshore, where each seat generates roughly half the dollar equivalence
of a U.S. seat, an increase in General and administrative costs of $3.5
million primarily related to Sarbanes-Oxley compliance costs and
Chairman/CEO succession costs in 2004, an impairment charge of $0.7
million in 2004 related to certain property and equipment at our India
facility and a decrease of $0.5 million in the reversal of restructuring
and other charges. For further information concerning significant changes
in the results of operations for the year ended December 31, 2004, refer
to Form 8-K filed on March 14, 2005 with the Securities and Exchange
Commission and incorporated herein by reference.
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SYKES ENTERPRISES, INCORPORATED
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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 March 17, 2005 By /s/ W. Michael Kipphut
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Senior Vice President
and Chief Financial Officer