-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, J0Xlrcu1uqOZgb4qf35zyjpNFHeEL7muTJoq1Mw40dprle5JJaRs2Z+5tu/V5QUM 1qsdQH1V/hDTK5IQVXku5A== 0001047469-98-014730.txt : 19980414 0001047469-98-014730.hdr.sgml : 19980414 ACCESSION NUMBER: 0001047469-98-014730 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 19980413 ITEM INFORMATION: FILED AS OF DATE: 19980413 SROS: NYSE FILER: COMPANY DATA: COMPANY CONFORMED NAME: BLYTH INDUSTRIES INC CENTRAL INDEX KEY: 0000921503 STANDARD INDUSTRIAL CLASSIFICATION: MISCELLANEOUS MANUFACTURING INDUSTRIES [3990] IRS NUMBER: 362984916 STATE OF INCORPORATION: DE FISCAL YEAR END: 0131 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 001-13026 FILM NUMBER: 98592558 BUSINESS ADDRESS: STREET 1: 100 FIELD POINT RD CITY: GREENWICH STATE: CT ZIP: 06830 BUSINESS PHONE: 2036611926 MAIL ADDRESS: STREET 1: 100 FIELD POINT RD CITY: GREENWICH STATE: CT ZIP: 06830 8-K 1 FORM 8-K 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) April 13, 1998 -------------- BLYTH INDUSTRIES, INC. ---------------------------------------------------------- (Exact name of registrant as specified in its charter) Delaware 1-13026 36-2984916 ---------------------------------------------------------- (State or other (Commission (IRS Employer jurisdiction of File Number) Identification No.) incorporation) 100 Field Point Road, Greenwich, Connecticut 06830 ---------------------------------------------------------- (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code (203) 661-1926 --------------- Not Applicable ---------------------------------------------------------- (Former name or former address, if changed since last report) Item 5. Other Events. In February 1997, the Financial Accounting Standards Board issued Statement No. 128 ("SFAS 128"), "Earnings per Share," which specifies the computation, presentation, and disclosure requirements for earnings per share. The Company's earnings press release dated March 26, 1998 was prepared in accordance with SFAS 128. Although the audited financial statements to be included in, or incorporated by reference into, the Company's Annual Report on Form 10-K for the fiscal year ended January 31, 1998 will be prepared in accordance with SFAS 128, the Company has determined to file the following unaudited selected financial data, which have been prepared in accordance with SFAS 128. UNAUDITED SELECTED CONSOLIDATED FINANCIAL DATA Set forth below are unaudited selected summary consolidated financial and operating data of the Company for fiscal years 1994 through 1998. The information presented below is being submitted for incorporation by reference into the Company's presently effective registration statements on Form S-3 (Nos. 333-26083 and 333-37659).
Years ended January 31, ---------------------------------------------------------- 1994 1995 1996 1997 1998 (In thousands, except per share and percent data) - ----------------------------------------------------------------------------------------------- STATEMENT OF EARNINGS DATA: Net sales $167,773 $229,617 $356,702 $531,480 $687,474 Gross profit 77,848 113,528 185,369 287,402 388,912 Operating profit 14,866 23,659 43,682 74,047 98,774 Interest expense 1,750 1,240 2,662 3,554 4,816 Earnings before income taxes and minority interest 13,255 22,752 42,474 71,939 89,930 Earnings before minority interest 8,009 13,605 25,552 42,951 54,862 Net earnings 8,009 13,605 25,175 42,757 54,590 Basic earnings per common share (1) 0.21 0.32 0.56 0.89 1.11 Diluted earnings per common share (1) 0.21 0.32 0.55 0.88 1.10 Basic weighted average number of common shares outstanding (1) 37,972 42,040 45,089 47,974 49,063 Diluted weighted average number of common shares outstanding (1) 37,972 42,208 45,373 48,476 49,543 OPERATING DATA: Gross profit margin 46.4% 49.4% 52.0% 54.1% 56.6% Operating profit margin 8.9% 10.3% 12.2% 13.9% 14.4% Capital expenditures $6,998 $10,448 $35,878 $50,526 $62,481 Depreciation and amortization 2,519 2,890 4,683 8,778 12,396 BALANCE SHEET DATA: Working capital $15,101 $42,494 $110,538 $113,177 $140,101 Total assets 70,861 102,591 223,469 303,879 447,390 Total debt 31,583 9,837 36,662 44,704 120,630 Total stockholders' equity 16,651 61,196 141,881 189,403 246,832 - -----------------------------------------------------------------------------------------------
(1) Restated for a December 1995 two-for-one stock split and a June 1997 three-for-two stock split, each of which was effected as a stock dividend. Earnings per common share for fiscal 1995, fiscal 1996, and fiscal 1997 reflects the issuance of 6,000,000 shares of Common Stock as part of the Company's initial pubic offering in May 1994, the issuance of 3,600,000 shares of Common Stock in a secondary offering in October 1995, and the issuance of 993,745 shares of Common Stock in connection with the acquisition of New Ideas International, Inc. in December 1996, respectively. Earnings per common share for all periods gives effect to the issuance of 2,999,808 shares of Common Stock upon conversion of certain convertible notes in April 1994 and the issuance of 1,900,786 shares of Common Stock in connection with the acquisition of Endar Corp. in May 1997. Earnings per common share for the applicable periods also includes the Company's equity in earnings from its investments in Colony Gift Corporation Ltd. in September 1993 and March 1995, results of operations of Jeanmarie Creations, Inc., 88% owned, of which 80% was acquired in April 1995, 4% was acquired in May 1996, and 4% was acquired in May 1997, the results of operations from the Company's acquisition of 75% ownership in Eclipse Candles, Ltd. in July 1995 and October 1996, the results of operations of New Ideas International, Inc., which was acquired in December 1996, and the December 1997 acquisition of the Sterno -TM- and Handy Fuel -TM- assets, none of which had a material effect on the Company's results of operations in the period during which they occurred, or thereafter, and also includes the results of operations of Endar Corp., which was acquired through a pooling of interests in May 1997 (the Company's results have been restated to include the historical results of operations of Endar Corp.). SIGNATURES 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 hereunto duly authorized. BLYTH INDUSTRIES, INC. Date: April 13, 1998 By: /s/ Bruce D. Kreiger ------------------------------ Name: Bruce D. Kreiger Title: Vice President & General Counsel -----END PRIVACY-ENHANCED MESSAGE-----