-----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, IATy9ua4sTmAfnOJIRjqpu8gUQTbwvQ4MS6IYBgkuiuN/DaA0BZRatH8kitNKwJr DBlPv2Q9sR32nE5E3V0rRw== 0000928385-98-000831.txt : 19980430 0000928385-98-000831.hdr.sgml : 19980430 ACCESSION NUMBER: 0000928385-98-000831 CONFORMED SUBMISSION TYPE: 8-K/A PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19980428 ITEM INFORMATION: ITEM INFORMATION: FILED AS OF DATE: 19980428 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/A SEC ACT: SEC FILE NUMBER: 001-13393 FILM NUMBER: 98602273 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/A 1 AMENDMENT TO THE FORM 8-K SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 ------------------ FORM 8-K/A 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 28, 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 year ended December 31, 1997 on a quarterly basis and calendarized unaudited financial information for the year ended December 31, 1996. 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 for the twelve months ended December 31, 1996 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: April 28, 1998 3 EX-99.1 2 EXHIBIT 99.1 Exhibit 99.1 CHOICE HOTELS INTERNATIONAL, INC. CONSOLIDATED STATEMENT OF INCOME (UNAUDITED)
Three Months Ended March 31, June 30, September 30, December 31, Calendar Calendar (In thousands) 1997 1997 1997 1997 1997 1996 -------------------------------------------------------------------------- REVENUES Royalty fees $18,258 $26,913 $33,799 $27,329 $106,299 $ 97,975 Marketing and reservation fees 20,436 26,736 34,607 28,448 110,227 103,660 Product sales 6,414 5,486 5,800 6,106 23,806 25,192 Initial franchising fees and relicensing fees 4,184 4,647 2,870 4,395 16,096 15,602 Other, including partners service revenue 3,539 3,659 588 4,126 11,912 4,510 European hotel operations 3,733 4,855 4,284 4,431 17,303 18,728 --------------------------------------------------------------------------- Total revenues 56,564 72,296 81,948 74,835 285,643 265,667 OPERATING EXPENSES Franchise marketing and reservation 20,287 26,645 34,193 27,019 108,144 100,251 European hotel operations 3,681 4,208 3,786 3,949 15,624 16,606 Selling, general, and administrative 11,214 13,733 12,419 14,119 51,485 49,699 Product services cost of sales 6,161 5,185 5,510 5,913 22,769 23,173 Depreciation and amortization 2,564 2,672 2,465 2,852 10,553 10,718 Provision for asset impairment -- -- -- -- -- 24,760 --------------------------------------------------------------------------- Total operating expenses 43,907 52,443 58,373 53,852 208,575 225,207 --------------------------------------------------------------------------- Income before interest expense and income taxes 12,657 19,853 23,575 20,983 77,068 40,460 Interest expense, net 2,866 2,142 3,087 2,697 10,792 11,752 --------------------------------------------------------------------------- Income before income taxes 9,791 17,711 20,488 18,286 66,276 28,708 Income taxes 4,078 7,377 8,533 7,616 27,604 12,459 --------------------------------------------------------------------------- Net income $ 5,713 $10,334 $11,955 $10,670 $38,672 $16,249 =========================================================================== Weighted average shares outstanding 63,105 60,665 59,998 59,808 60,833 62,914 =========================================================================== Basic earnings per share $ 0.09 $ 0.17 $ 0.20 $ 0.18 $ 0.64 $ 0.26 ===========================================================================
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. -----END PRIVACY-ENHANCED MESSAGE-----