-----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, PrwvdUPzflFhxTajl6Um0oBfBynzrj9U5ZHBOb6Nbx7ZTjVR4wxq/OKwy5X+VNGC oYlwMsyacpeeSqsvoQjoZA== 0001171520-02-000059.txt : 20020719 0001171520-02-000059.hdr.sgml : 20020719 20020719155732 ACCESSION NUMBER: 0001171520-02-000059 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20020619 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20020719 FILER: COMPANY DATA: COMPANY CONFORMED NAME: UNITED NATURAL FOODS INC CENTRAL INDEX KEY: 0001020859 STANDARD INDUSTRIAL CLASSIFICATION: WHOLESALE-GROCERIES & GENERAL LINE [5141] IRS NUMBER: 050376157 STATE OF INCORPORATION: DE FISCAL YEAR END: 0731 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-15723 FILM NUMBER: 02706696 BUSINESS ADDRESS: STREET 1: PO BOX 999 STREET 2: 260 LAKE RD CITY: DAYVILLE STATE: CT ZIP: 06241 BUSINESS PHONE: 8607792800 MAIL ADDRESS: STREET 1: PO BOX 999 STREET 2: 260 LAKE RD CITY: DAYVILLE STATE: CT ZIP: 06241 8-K 1 d02-1028.txt UNITED NATURAL FOODS, INC. ================================================================================ 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): July 15, 2002 UNITED NATURAL FOODS, INC. (Exact Name of Registrant as Specified in Its Charter) Delaware 000-21531 05-0376157 (State or Other Jurisdiction (Commission File Number) (IRS Employer of Incorporation) Identification No.) 260 Lake Road Dayville, CT 06241 (Address of Principal Executive Offices) (Zip Code) (860) 779-2800 (Registrant's Telephone Number, Including Area Code) Not Applicable (Former Name or Former Address, if Changed Since Last Report) ================================================================================ Item 5. Other Events On July 15, 2002 the Company issued a press release announcing its projected financial results for the fiscal year ending December 31, 2003. A copy of this press release is attached as an exhibit to this Form 8-K. Item 7. Financial Statements and Exhibits (a) Financial Statements of businesses acquired: Not Applicable (b) Pro Forma Financial Information: Not Applicable (c) Exhibits. Exhibit No. Description ----------- ----------- 99.1 Press Release, dated July 15, 2002, announcing the Company's projected financial results for the fiscal year ending December 31, 2003. 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. United Natural Foods, Inc. By: /s/ Todd Weintraub -------------------------- Todd Weintraub Vice President, Treasurer and Chief Financial Officer Date: July 19, 2002 EXHIBIT INDEX Exhibit No. Description - ----------- ----------- 99.1 Press Release, dated July 15, 2002, announcing the Company's projected financial results for the fiscal year ending December 31, 2003. EX-99.1 3 ex99-1.txt [LETTERHEAD OF UNITED NATURAL FOODS, INC.] IMMEDIATE RELEASE July 15, 2002 United Natural Foods, Inc. PROVIDES OUTLOOK FOR 2003 Dayville, Connecticut - July 15, 2002 -- United Natural Foods, Inc., (Nasdaq: UNFI) announced today that it anticipates revenues, for the fiscal year ending July 31, 2003, in the range of $1.15 billion to $1.17 billion with net income, excluding special items, in the range of $1.18 - $1.20 per diluted share. The Company also noted that gross margin is expected to be slightly above 20.0% while operating margin is expected to be slightly below 4%. Operating expenses as a percentage of sales are expected to be in the mid-16% range, and interest expense is expected to be approximately 50 basis points of sales. United Natural Foods' fiscal 2003 financial guidance reflects the anticipated impact of not renewing, as previously announced, the primary distribution agreement with Wild Oats past its current expiration date of August 31, 2002. Michael Funk, the Company's Chief Executive Officer, commented, "With our operating divisions continuing to turn in strong performances and industry fundamentals remaining positive, we remain well positioned to capitalize on the growing market for natural products. The Company remains focused on executing its business plan and market strategy and, looking forward into fiscal 2003, we will continue to pursue a broad range of internal and external growth strategies. Central to this focus is an emphasis on maximizing profitability, expanding our customer base and increasing our penetration with existing accounts. Furthermore, our improved balance sheet along with our line of credit provides us with ample flexibility to pursue other strategic opportunities that may arise. We are particularly interested in utilizing the capital available resulting from the non-renewal of the Wild Oats contract to expand geographically into the Midwest and Texas markets." With respect to results for the fourth quarter of fiscal 2002, Mr. Funk added, "Although we will not be announcing actual fourth quarter 2002 results until September, we are confident that our sales growth for the fourth quarter of fiscal 2002 will continue in the 12% - 14% range, and are maintaining our previous guidance of $0.28 - $0.30 per diluted share." About United Natural Foods United Natural Foods, Inc. carries and distributes over 30,000 products to more than 7,000 customers nationwide. The Company serves a wide variety of retail formats including conventional supermarket chains, natural product superstores and independent retail operators. For more information on United Natural Foods, Inc., visit the Company's web-site at www.unfi.com. AT THE COMPANY: AT FRB/WEBER SHANDWICK: - -------------------------------------------------------------------------------- Todd Weintraub Joseph Calabrese Vanessa Schwartz Chief Financial Officer General Information Analyst Information (860) 779-2800 (212) 445-8434 (212) 445-8433 Judith Sylk-Siegel Media Information (212) 445-8431 "Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release regarding United Natural's business which are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, including but not limited to general business conditions, the impact of competition and our dependence on principal customers, see "Risk Factors" in the Company's quarterly report on Form 10-Q filed with the Securities and Commission on June 13, 2002, and its other filings under the Securities Exchange Act of 1934, as amended. Any forward-looking statements are made pursuant to the Private Securities Litigation Reform Act of 1995 and, as such, speak only as of the date made. United Natural Foods, Inc. is not undertaking to update any information in the foregoing reports until the effective date of its future reports required by applicable laws. -----END PRIVACY-ENHANCED MESSAGE-----