UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 12B-25
NOTIFICATION OF LATE FILING
SEC FILE NO.: 1-9334
CUSIP NO.: 058264102
(CHECK ONE):
/X/ FORM 10-K /_/ FORM 20-F /_/ FORM 11-K /_/ FORM 10-Q /_/ FORM N-SAR
FOR THE PERIOD ENDED: JUNE 30, 2003
OR
[ ] 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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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
FULL NAME OF REGISTRANT: BALDWIN TECHNOLOGY COMPANY, INC.
ADDRESS OF PRINCIPAL EXECUTIVE OFFICES: 12 COMMERCE DRIVE
SHELTON, CT 06484
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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 APPROPRIATE BOX)
/X/ (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 20-F, 11-K, 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, 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
AS STATED IN THE COMPANY'S PRESS RELEASE DATED SEPTEMBER 26, 2003, THE
COMPANY HAS BEEN PURSUING VARIOUS FINANCING AND OTHER STRATEGIC ALTERNATIVES AND
RECENTLY CONCLUDED THE REFINANCING OF ITS GLOBAL DEBT STRUCTURE. THESE EFFORTS,
WHICH ARE IMPORTANT TO THE FUTURE OF THE COMPANY, HAVE REQUIRED SIGNIFICANT
INVOLVEMENT BY KEY MEMBERS OF MANAGEMENT WHO ALSO HAVE RESPONSIBILITY FOR THE
PREPARATION OF THE JUNE 30, 2003 FORM 10-K AND THUS HAVE PRECLUDED THE COMPANY
FROM A TIMELY FILING WITHOUT UNREASONABLE EFFORT AND EXPENSE.
PART IV - OTHER INFORMATION
(1) NAME AND TELEPHONE NUMBER OF PERSON TO CONTACT IN REGARD TO THIS
NOTIFICATION:
VIJAY C. THARANI (203) 402-1000
(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 THE ANSWER IS
NO, IDENTIFY REPORT(S).
/X/ YES /_/ 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?
/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 ANTICIPATES THAT IT WILL HAVE A NET LOSS OF APPROXIMATELY
$11,126,000 FOR THE YEAR ENDED JUNE 30, 2003, AS COMPARED TO $15,984,000 FOR THE
YEAR ENDED JUNE 30, 2002. THE CURRENT YEAR'S NET LOSS IS PRIMARILY THE RESULT OF
A CHARGE AGAINST EARNINGS FOR RESTRUCTURING CHARGES OF $3,605,000, A SETTLEMENT
CHARGE OF $1,250,000 RELATED TO A CUSTOMER DISPUTE ASSOCIATED WITH A BUSINESS
THAT WAS PREVIOUSLY DIVESTED, ADDITIONAL EXPENSES OF $1,374,000 ASSOCIATED WITH
THE COMPANY'S PURSUIT OF VARIOUS FINANCING AND OTHER STRATEGIC ALTERNATIVES, AND
A CHARGE OF APPROXIMATELY $3,573,000 FOR A VALUATION ALLOWANCE AGAINST CERTAIN
OF THE COMPANY'S FOREIGN AND DOMESTIC TAX ASSETS. THE PRIOR YEAR'S NET LOSS IS
PRIMARILY THE RESULT OF A CHARGE AGAINST EARNINGS FOR AN IMPAIRMENT OF GOODWILL
ASSOCIATED WITH THE PREVIOUSLY ANNOUNCED SALE OF THE ASSETS OF THE BALDWIN KANSA
OPERATION, A CHARGE OF APPROXIMATELY $7,047,000 FOR A VALUATION ALLOWANCE
AGAINST CERTAIN OF THE COMPANY'S DOMESTIC TAX ASSETS AND RESTRUCTURING CHARGES
OF APPROXIMATELY $621,000.
BALDWIN TECHNOLOGY COMPANY, 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
HEREUNTO DULY AUTHORIZED.
DATE: SEPTEMBER 29, 2003 BY: /S/ VIJAY C. THARANI
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VIJAY C. THARANI
CHIEF FINANCIAL OFFICER
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