-----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, UeZNFzyXRIuIaclLULtrk1A99BKnwlj5L6JnN97xVqMCBrp8lQQ0FZ/+6fCYVyMC uthNtgpzraFk7snR+74XsQ== 0000916641-96-000313.txt : 19960509 0000916641-96-000313.hdr.sgml : 19960509 ACCESSION NUMBER: 0000916641-96-000313 CONFORMED SUBMISSION TYPE: 8-K/A PUBLIC DOCUMENT COUNT: 4 CONFORMED PERIOD OF REPORT: 19951107 ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 19960508 SROS: NYSE FILER: COMPANY DATA: COMPANY CONFORMED NAME: DIMON INC CENTRAL INDEX KEY: 0000939930 STANDARD INDUSTRIAL CLASSIFICATION: WHOLESALE-FARM PRODUCT RAW MATERIALS [5150] IRS NUMBER: 541746567 STATE OF INCORPORATION: VA FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: 8-K/A SEC ACT: 1934 Act SEC FILE NUMBER: 001-13684 FILM NUMBER: 96557788 BUSINESS ADDRESS: STREET 1: 512 BRIDGE ST STREET 2: P O BOX 681 CITY: DANVILLE STATE: VA ZIP: 24541 BUSINESS PHONE: 8047927511 MAIL ADDRESS: STREET 1: 512 BRIDGE ST STREET 2: P O BOX 681 CITY: DANVILLE STATE: VA ZIP: 24541 8-K/A 1 DIMON INC. 8K/A NO. 3 SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K/A3 CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported) June 7, 1995 DIMON Incorporated (Exact name of registrant as specified in its charter) Virginia 0-25734; 1-13684 54-1746567 (State or other jurisdiction (Commission (IRS Employer of incorporation) File Number) Identification No.)
512 Bridge Street, Danville, Virginia 24541 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code (804) 792-7511 3 Explanatory Note: This Form 8-K/A3 amends the financial statements indicated below which were included as Item 7 in the Company's Form 8-K/A2 filed on April 3, 1996. The remaining Items have not been amended and have not been restated in this Form 8-K/A3. Item 7. Financial Statements, Pro Forma Financial Statements and Exhibits a. Financial Statements of Business Acquired The audited historical financial statements of the business units acquired from Austro-Hellenique S.A. DeTabac Ht De Batiment (the "Business Unit") and Austro-Turk Tutun A.S. were included in the Form 8-K-A filed August 21, 1995. b. Amended Pro Forma Financial Information Pro forma financial information for the year ended June 30, 1994 reflecting the acquisition of the Business Unit is included as Exhibits 99.2-99.4. c. Exhibits 99.1 - Audited Historical Financial Statements of the Business Unit of Austro-Hellenique S.A. DeTabac Ht De Batiment and Austro-Turk Tutun A.S. (previously filed) 99.2 - Pro Forma Condensed Consolidated Balance Sheet of Registrant as of June 30, 1994. 99.3 - Pro Forma Condensed Consolidated Statement of Operations of Registrant for year ended June 30, 1994 99.4 - Notes to Pro Forma Condensed Consolidated Financial Statements of Registrant 2 SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this amendment to be signed on its behalf by the undersigned thereunto duly authorized. DIMON INCORPORATED (REGISTRANT) Date: May 8, 1996 By: /s/ JERRY L. PARKER Jerry L. Parker Vice President and Controller 3 DIMON Incorporated EXHIBIT INDEX Description Page 99.1 - Audited Historical Financial Statements of the Business - Unit of Austro-Hellenique S.A. DeTabac Ht De Batiment and Austro-Turk Tutun A.S. (previously filed) 99.2 - Pro Forma Condensed Consolidated Balance Sheet of 5 Registrant as of June 30, 1994. 99.3 - Pro Forma Condensed Consolidated Statement of Operations 6 of Registrant for year ended June 30, 1994 99.4 - Notes to Pro Forma Condensed Consolidated Financial 7 Statements of Registrant 4 EX-99 2 EXHIBIT 99.2
DIMON Incorporated PRO FORMA CONDENSED OF CONSOLIDATED BALANCE SHEET as of JUNE 30, 1994 (IN THOUSANDS) (UNAUDITED) COMBINED DIMON AUSTRO AUSTRO PROFORMA PROFORMA INCORPORATED HELLENIQUE TURK ADJUSTMENT ADJUSTED ---------------- ------------ --------- ------------ ----------- ASSETS Current Assets Cash and cash equivalents $12,471 $3,154 $665 $0 $16,290 Trade and other account receivables, net 180,845 6,302 2,431 189,578 Tobacco inventories 403,211 19,425 11,334 433,970 Recoverable income taxes 6,151 6,151 Prepaid expenses and other assets 82,765 1,833 237 84,835 ----------- ----------- -------------- --------- ----------- Total current assets 685,443 30,714 14,667 0 730,824 Investments and other assets 77,399 50 77,449 Intangible Assets 57,492 17,193 (1) 74,685 Property, Plant and Equipment, net 209,739 1,031 3,706 214,476 Deferred taxes and other deferred charges 13,743 8 13,751 ----------- ----------- ----------------- --------- ----------- Total Assets $1,043,816 $31,745 $18,431 $17,193 $1,111,185 =========== =========== ================= ========= =========== LIABILITIES AND SHAREHOLDERS' EQUITY Current Liabilities Notes payable to banks $255,607 $19,881 $15,566 $13,372 (1) $304,426 Accounts payable and accrued expenses 144,168 6,987 1,058 152,213 Accrued taxes on income 4,846 1,119 5,965 Advances from customers 48,929 9,386 58,315 Current portion of long-term debt 14,226 14,226 ----------- ----------- ----------------- --------- ----------- Total current liabilities 467,776 37,373 16,624 13,372 535,145 ----------- ----------- ----------------- --------- ----------- Long Term Debt 188,825 188,825 ----------- ----------- ----------------- --------- ----------- Convertible Subordinated Debentures 56,475 56,475 ----------- ----------- ----------------- --------- ----------- Deferred income taxes, compensation and other benefits 41,199 41,199 ----------- ----------- ----------------- --------- ----------- Minority Interests 1,227 1,227 ----------- ----------- ----------------- --------- ----------- Shareholder's Equity Common Stock 79,861 967 (967)(1) 79,861 Retained Earnings 203,615 (5,628) 840 4,788 (1) 203,615 Cumulative translation adjustment 6,471 6,471 Minimum pension liability (1,374) (1,374) Unrealized gain (loss) on investments (259) (259) ----------- ----------- ----------------- --------- ----------- Total shareholder's equity 288,314 (5,628) 1,807 3,821 288,314 ----------- ----------- ----------------- --------- ----------- Total Liabilities and Shareholders' Equity $1,043,816 $31,745 $18,431 $17,193 $1,111,185 =========== =========== ================= ========= ===========
See accompanying notes to unaudited pro forma financial information EX-99 3 EXHIBIT 99.3
DIMON Incorporated PRO FORMA COMBINED CONDENSED STATEMENT OF OPERATIONS FOR THE YEAR ENDED JUNE 30, 1994 (IN THOUSANDS) (UNAUDITED) COMBINED DIMON AUSTRO AUSTRO PROFORMA PROFORMA INCORPORATED HELLENIQUE TURK ADJUSTMENT ADJUSTED -------------- ---------- --------- ----------- --------- Net sales of goods and services $1,449,078 $14,963 $22,725 $0 $1,486,766 Cost of goods and services sold 1,317,286 13,515 11,916 1,342,717 ------------- --------- --------- --------- ------------ 131,792 1,448 10,809 0 144,049 Selling, administrative and general expenses 117,311 3,016 2,216 1,719 (2) 124,262 ------------- --------- --------- --------- ------------ Operating income (loss) 14,481 (1,568) 8,593 (1,719) 19,787 Other income: Interest 7,025 850 99 7,974 Sundry 8,675 2,491 571 11,737 ------------- --------- --------- --------- ------------ 15,700 3,341 670 0 19,711 Other deductions: Interest 35,117 6,936 1,094 862 44,009 Sundry 419 280 7,538 8,237 ------------- --------- --------- --------- ------------ 35,536 7,216 8,632 862 52,246 Income (loss) before income taxes, minority interest and equity in net income of investee companies (5,355) (5,443) 631 (2,581) (12,748) Income taxes 2,767 (981) 1,786 ------------- --------- --------- --------- ------------ Income (loss) before minority interest and equity in net income of investee companies (8,122) (5,443) 631 (1,600) (14,534) Income applicable to minority interest 466 466 ------------- --------- --------- --------- ------------ Income (loss) before equity in net income of investee companies (8,588) (5,443) 631 (1,600) (15,000) Equity in net income (loss) of investee companies (net of U.S. tax expense of $589) 98 98 ------------- --------- --------- --------- ------------ Net income (loss) (8,490) (5,443) 631 (1,600) (14,902) ============= ========= ========= ========= ============ Net income (loss) per share, primary * (.22) (.39) Weighted average number of shares outstanding 38,091 38,091
* Computation of fully diluted earnings per share is anti-dilutive See accompanying notes to unaudited pro forma financial information EX-99 4 EXHIBIT 99.4 Exhibit 99.4 NOTES TO PRO FORMA CONDENSED CONSOLIDATED FINANCIAL STATEMENTS The registrant acquired the businesses of Austro-Hellenique De Tabac S.A. (Hellas) and Austro-Turk Tutan A.S. (Austro-Turk). Hellas and Austro-Turk have buying, processing and selling operations in Greece and Turkey, respectively. These pro forma financial statements reflect a year end of December 31, 1994 for each of the businesses acquired by the registrant and a year end of June 30, 1994 for the registrant. It is impracticable to present these financial statements in the manner required by Rule 11-02(c)(3) of Regulation S-X. The registrant believes that the presentation of the financial statements in the manner required by Rule 11- 02(c)(3) of Regulation S-X would not have a material effect on these pro forma financial statements. 1. The purchase price of Hellas and Austro-Turk was $13,372,000 for net liabilities of $3,821,000 resulting in an excess of cost over businesses acquired of $17,193,000. 2. The excess of cost over businesses acquired from the purchase of Hellas and Austro-Turk will be amortized over 10 years, resulting in amortization expense of $1,719,000. Interest expense relating to the notes payable for the purchase was $862,000. The tax benefit resulting from amortization of the excess of cost over businesses acquired and interest expenses on notes payable was $981,000. 5 -----END PRIVACY-ENHANCED MESSAGE-----