-----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, DX7U0az8nBm2tXG0+DqmIusL5aLfceQWrX876S+LnSzmHPHHxjT62rYssPNgJJwM 9yxJxHIZvBy05r90PzRazw== 0000928385-98-000620.txt : 19980331 0000928385-98-000620.hdr.sgml : 19980331 ACCESSION NUMBER: 0000928385-98-000620 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 19980327 ITEM INFORMATION: ITEM INFORMATION: FILED AS OF DATE: 19980330 SROS: NYSE FILER: COMPANY DATA: COMPANY CONFORMED NAME: CHOICE HOTELS INTERNATIONAL INC /DE CENTRAL INDEX KEY: 0001046311 STANDARD INDUSTRIAL CLASSIFICATION: HOTELS & MOTELS [7011] IRS NUMBER: 521209792 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 001-13393 FILM NUMBER: 98579339 BUSINESS ADDRESS: STREET 1: 10750 COLUMBIA PIKE CITY: SILVER SPRING STATE: MD ZIP: 20901 BUSINESS PHONE: 3019795000 MAIL ADDRESS: STREET 1: 10750 COLUMBIA PIKE CITY: SILVER SPRING STATE: MD ZIP: 20901 FORMER COMPANY: FORMER CONFORMED NAME: CHOICE HOTELS FRANCHISING INC DATE OF NAME CHANGE: 19971118 FORMER COMPANY: FORMER CONFORMED NAME: CHOICE HOTELS INTERNATIONAL INC/ DATE OF NAME CHANGE: 19971022 8-K 1 FORM 8-K SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 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): March 27, 1998 -------------- Choice Hotels International, Inc. -------------------------------------------------- (Exact Name of Registrant as Specified in Charter) Delaware 52-1209792 - ---------------------------- ------------------- (State or Other Jurisdiction (IRS Employer of Incorporation) Identification No.) 10750 Columbia Pike Silver Spring, Maryland 20901 ---------------------------------------- (Address of Principal Executive Offices) (301) 979-5000 ------------------------------------------------------- (Registrant's telephone number, including area code) ITEM 5. Other Events - ------ ------------ Choice Hotels International, Inc. ("Choice" and, together with its subsidiaries, the "Company") deems the information attached hereto as Exhibit 99.1, and incorporated herein by reference, to be of importance to its security holders, as it provides calendarized unaudited financial information for the twelve months ended December 31, 1997 on a quarterly basis. This reclassification does not require any amendments to the Company's reports filed under the Securities Exchange Act of 1934, as amended. ITEM 7. Financial Statements, Pro Forma Financial Information and Exhibits - ----- ------------------------------------------------------------------ (c) Exhibits -------- 99.1 Choice Hotels International, Inc. Consolidated Statement of Income for the Twelve Months Ended December 31, 1997 and the three months ended March 31, 1997, June 30, 1997, September 30, 1997 and December 31, 1997. 2 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. Choice Hotels International, Inc. By: /s/ Donald H. Dempsey ------------------------- Donald H. Dempsey Executive Vice President, Chief Financial Officer and Treasurer Date: March 27, 1998 3 CHOICE HOTELS INTERNATIONAL, INC. CONSOLIDATED STATEMENT OF INCOME (UNAUDITED)
Three Months Ended March 31, June 30, September 30, December 31, Calendar (In thousands) 1997 1997 1997 1997 1997 ---------------------------------------------------------------- REVENUES Royalty fees $17,662 $26,913 $33,799 $27,329 $105,703 Marketing and reservation fees 18,736 28,436 34,607 28,448 110,227 Product sales 5,558 4,987 5,800 6,106 22,451 Initial franchising fees and relicensing fees 4,184 4,647 2,870 4,395 16,096 Other, including partners service revenue 4,991 4,645 588 4,126 14,350 European hotel operations 3,733 4,855 4,284 4,431 17,303 ----------------------------------------------------------------- Total revenues 54,864 74,483 81,948 74,835 286,130 OPERATING EXPENSES Franchise marketing and reservation 20,287 26,645 34,193 27,019 108,144 European hotel operations 3,681 4,208 3,786 3,949 15,624 Selling, general, and administrative 11,541 14,345 12,419 14,119 52,424 Product services cost of sales 5,834 5,060 5,510 5,913 22,317 Depreciation and amortization 2,564 2,672 2,465 2,852 10,553 ----------------------------------------------------------------- Total operating expenses 43,907 52,930 58,373 53,852 209,062 ----------------------------------------------------------------- Income before interest expense and income taxes 10,957 21,553 23,575 20,983 77,068 Interest expense, net 2,866 2,142 3,087 2,697 10,792 ----------------------------------------------------------------- Income before income taxes 8,091 19,411 20,488 18,286 66,276 Income taxes 3,370 8,085 8,533 7,616 27,604 ----------------------------------------------------------------- Net income $ 4,721 $11,326 $11,955 $10,670 $38,672 ================================================================= Weighted average shares outstanding 63,105 60,665 59,998 59,808 60,833 ================================================================= Basic earnings per share $ 0.07 $ 0.19 $ 0.20 $ 0.18 $ 0.64 =================================================================
Note: Basic earnings per share and weighted average shares outstanding are presented on a pro forma basis based upon its Parents' weighted average shares outstanding prior to October 15, 1997 because the Company was a subsidiary of Sunburst Hospitality Corporation. 4 -----END PRIVACY-ENHANCED MESSAGE-----