-----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, H5txqS4hC8p8YyQg4JBtn/Wcv8VU+vcKi0TP3JBH7FZIl3oCM+sVplKVrZAxmDnH HFcy9BmweRHw6dfR2jm8JA== 0000950147-03-000346.txt : 20030318 0000950147-03-000346.hdr.sgml : 20030318 20030317185948 ACCESSION NUMBER: 0000950147-03-000346 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20030318 ITEM INFORMATION: Other events FILED AS OF DATE: 20030318 FILER: COMPANY DATA: COMPANY CONFORMED NAME: POORE BROTHERS INC CENTRAL INDEX KEY: 0000944508 STANDARD INDUSTRIAL CLASSIFICATION: MISCELLANEOUS FOOD PREPARATIONS & KINDRED PRODUCTS [2090] IRS NUMBER: 860786101 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-14556 FILM NUMBER: 03606760 BUSINESS ADDRESS: STREET 1: 3500 S LA COMETA DR CITY: GOODYEAR STATE: AZ ZIP: 85338 BUSINESS PHONE: 6029326200 MAIL ADDRESS: STREET 1: 2664 SOUTH LITCHFIELD RD CITY: GOODYEAR STATE: AZ ZIP: 85338 8-K 1 e-9731.txt CURRENT REPORT DATED 03-18-2003 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 March 18, 2003 Date of Report (Date of earliest event reported) POORE BROTHERS, INC. (Exact name of registrant as specified in its charter) DELAWARE 1-14556 86-0786101 (State or other jurisdiction (Commission File Number) (I.R.S. Employer of incorporation) Identification No.) 3500 South La Cometa Drive Goodyear, Arizona 85338 (Address of principal executive offices) (zip code) (623) 932-6200 (Registrant's telephone number, including area code) ITEM 5. OTHER EVENTS On March 18, 2003, the Registrant issued a press release (attached hereto as Exhibit 99.1 and which is incorporated by reference herein) that announces the introduction of CRUNCH TOONS(TM) brand salted snacks and provides additional information regarding the Company's financial guidance for 2003 and beyond. SIGNATURE 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. Date: March 18, 2003 POORE BROTHERS, INC. By: /s/ Thomas W. Freeze ------------------------------------- Thomas W. Freeze Senior Vice President & Chief Financial Officer EXHIBIT INDEX EXHIBIT NUMBER DESCRIPTION - -------------- ----------- 99.1 Press Release, dated March 18, 2003 EX-99.1 3 ex99-1.txt PRESS RELEASE DATED 03-18-2003 EXHIBIT 99.1 CONTACTS: Thomas W. Freeze, Sr. VP and CFO Philip Bourdillon/Eugene Heller Poore Brothers, Inc. Silverman Heller Associates 623-932-6203 310-208-2550 POORE BROTHERS ANNOUNCES THE INTRODUCTION OF CRUNCH TOONS(TM) BRAND SALTED SNACKS Goodyear, Arizona (March 18, 2003) - Poore Brothers, Inc. (Nasdaq: SNAK) today announced that the Company plans to introduce CRUNCH TOONS(TM), a highly innovative new brand of salted snacks initially featuring Warner Bros. beloved LOONEY TUNES(TM) characters, including Bugs Bunny, Tweety and the Tasmanian Devil, beginning this summer. "We are thrilled to announce the national introduction of our company-owned brand, CRUNCH TOONS(TM), targeted to kids of all ages," commented Eric J. Kufel, president and CEO. "This exciting new brand utilizes breakthrough manufacturing technology to produce high resolution, three-dimensional character-shaped snacks with the taste and crunch of potato chips. The packaging is entertaining and includes interactive on-package promotions that reflect the fun and irreverent personalities of many of the most popular LOONEY TUNES(TM) characters." CRUNCH TOONS(TM) will be introduced into all key trade channels throughout the summer and fall of 2003, with initial shipments planned to commence in June. The brand will be launched initially with three products: original flavor Bugs Bunny shaped snacks, cheddar cheese flavor Tweety shaped snacks, and nacho cheese flavor Tasmanian Devil shaped snacks. These products will be sold in five channel-specific sizes, as well as three variety packs of single serving sizes. As previously announced, the Company has teamed up with Warner Bros. Consumer Products in a multi-year licensing agreement granting Poore Brothers exclusive snack category brand licensing and promotional rights for LOONEY TUNES(TM) characters. As part of the agreement, Poore Brothers has also been granted exclusive brand licensing and promotional rights for Warner Bros. Pictures' upcoming live-action feature film, "Looney Tunes: Back in Action," which is slated to hit movie theaters November 14, 2003. The film stars Brendan Fraser, Jenna Elfman, Joan Cusack, Heather Locklear and Steve Martin. Throughout 2003, there will be increasing LOONEY TUNES(TM) awareness as a result of the motion picture and related promotional partner marketing activities. Poore Brothers plans to support the introduction of CRUNCH TOONS(TM) with the most comprehensive advertising, consumer promotion and public relations campaign in the Company's history. In the second half of 2003, the Company will launch a multi-million dollar national television advertising campaign, newspaper coupon program, and public relations activities, as well as feature on-pack promotions such as free LOONEY TUNES(TM) tattoos. "CRUNCH TOONS(TM) has been our most thorough brand and product development project to date. We have conducted extensive market research, which generated favorable results that led to our aggressive investment stance on the brand launch. I am pleased to report that early responses from major national retailers have been enthusiastic," continued Mr. Kufel. "Company wide, our goal in 2003 is to generate $10-15 million in revenue growth, primarily in the second half of the year," commented Thomas W. Freeze, senior vice president and CFO. "Due to approximately $4 million in spending during the year for product development and other costs associated with our new product launches, including fourth-quarter national television advertising and consumer promotions, we expect to be marginally profitable for the year." "As we continue to build a diverse portfolio of $20-$50 million national niche snack food brands, we remain committed to achieving our goal of $100 million in revenues in 2004," continued Mr. Freeze. "Our goal is to sustain 20% compound annual growth in revenues thereafter, and to achieve this goal we plan to launch at least two additional new brands within the following three years. While profitability will fluctuate as we invest in new brand launches and expand their distribution, our long-term goal is to improve our net income margins to the 4-6% range in non-launch years." ABOUT POORE BROTHERS, INC. With facilities in Indiana and Arizona, Poore Brothers is a marketer and manufacturer of "Intensely Different"(TM) salted snack foods under a variety of owned or licensed brand names, including CRUNCH TOONS(TM), T.G.I. FRIDAY'S(R), TATO SKINS(R), POORE BROTHERS(R), BOB'S TEXAS STYLE(R), and BOULDER POTATO COMPANY(R). Further information is available at http://www.poorebrothers.com. STATEMENTS CONTAINED IN THIS PRESS RELEASE THAT ARE NOT HISTORICAL FACTS ARE "FORWARD LOOKING" STATEMENTS AS THAT TERM IS DEFINED IN THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995. BECAUSE SUCH STATEMENTS INCLUDE RISKS AND UNCERTAINTIES, ACTUAL RESULTS MAY DIFFER MATERIALLY FROM THOSE EXPRESSED OR IMPLIED BY SUCH FORWARD-LOOKING STATEMENTS. FACTORS THAT MAY CAUSE ACTUAL RESULTS TO DIFFER FROM THE FORWARD-LOOKING STATEMENTS CONTAINED IN THIS PRESS RELEASE AND THAT MAY AFFECT THE COMPANY'S PROSPECTS IN GENERAL INCLUDE, BUT ARE NOT LIMITED TO, THE POTENTIAL NEED FOR ADDITIONAL FINANCING, ACQUISITION-RELATED RISKS, SIGNIFICANT COMPETITION, CUSTOMER ACCEPTANCE OF NEW PRODUCTS, DEPENDENCE UPON MAJOR CUSTOMERS, GENERAL RISKS RELATED TO THE FOOD PRODUCTS INDUSTRY, AND SUCH OTHER FACTORS AS ARE DESCRIBED IN THE COMPANY'S FILINGS WITH THE SECURITIES AND EXCHANGE COMMISSION. # # # LOONEY TUNES, characters, names and all related indicia are trademarks of and(C)Warner Bros. (s03) -----END PRIVACY-ENHANCED MESSAGE-----