-----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, HU7wTVprfbUOMja5JfRp82fB8gjuJsI9aeP8R7KQY0kwyzqjyUso5XlIp+kny7af vUs7t8BOD7d8fGAe++XlAQ== 0000950130-96-000062.txt : 19960111 0000950130-96-000062.hdr.sgml : 19960111 ACCESSION NUMBER: 0000950130-96-000062 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19960109 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 19960109 SROS: NYSE FILER: COMPANY DATA: COMPANY CONFORMED NAME: CHAMPION INTERNATIONAL CORP CENTRAL INDEX KEY: 0000019150 STANDARD INDUSTRIAL CLASSIFICATION: PAPER MILLS [2621] IRS NUMBER: 131427390 STATE OF INCORPORATION: NY FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-03053 FILM NUMBER: 96502056 BUSINESS ADDRESS: STREET 1: ONE CHAMPION PLAZA CITY: STAMFORD STATE: CT ZIP: 06921 BUSINESS PHONE: 2033587000 FORMER COMPANY: FORMER CONFORMED NAME: UNITED STATES PLYWOOD CHAMPION PAPERS IN DATE OF NAME CHANGE: 19720821 8-K 1 FORM 8-K SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 8-K CURRENT REPORT Pursuant ot Section 13 or 15(d) of the Securities Exchange Act of 1934 January 9, 1996 - -------------------------------------------------------------------------------- Date of Report (Date of earliest event reported) CHAMPION INTERNATIONAL CORPORATION - -------------------------------------------------------------------------------- (Exact name of registrant as specified in its charter NEW YORK - -------------------------------------------------------------------------------- (State or other jurisdiction of incorporation) 1-3053 13-1427390 - --------------------- -------------------------------- (Commission File Number) (IRS Employer Identification No.) One Champion Plaza, Stamford, Connecticut 06921 - -------------------------------------------------------------------------------- (Address of principal executive offices) (Zip Code) (203) 358-7000 - -------------------------------------------------------------------------------- (Registrant's telephone number, including area code) Page 1 of 3 pages Item 5. Other Events On January 9, 1996, Champion International Corporation (the "Company") issued a press release announcing certain unaudited financial results of the Company for the three months and the twelve months ended December 31, 1995. Item 7. Financial Statements, Pro Forma Financial Information and Exhibits. (c) Exhibits. The following Exhibit is filed as part of this Report: Exhibit Number Description - -------------- ----------- 99 The Company's Consolidated Statement of Income for the three months and the twelve months ended December 31, 1995 (unaudited) and December 31, 1994. Page 2 of 3 Pages 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 thereunto duly authorized. CHAMPION INTERNATIONAL CORPORATION BY: /s/ LAWRENCE A. FOX -------------------------------- Lawrence A. Fox Vice President and Secretary Dated: January 9, 1996 Page 3 of 3 pages EX-99 2 CONSOLIDATED STATEMENT OF INCOME EXHIBIT 99 ---------- CHAMPION INTERNATIONAL CORPORATION AND SUBSIDIARIES CONSOLIDATED STATEMENT OF INCOME (in thousands, except per share)
Three Months Ended Twelve Months Ended December 31, December 31, ------------------------------ ------------------------------- 1995 1994 1995 1994 -------- --------- --------- ---------- (Unaudited) (Unaudited) Net Sales: Paper $ 1,515,865 $ 1,183,431 $ 6,007,158 $ 4,216,795 Wood Products 225,053 281,943 964,880 1,101,397 ----------- ----------- ----------- ----------- $ 1,740,918 $ 1,465,374 $ 6,972,038 $ 5,318,192 =========== =========== =========== =========== Income from Operations: Paper 367,486 113,331 1,364,786 70,887 Wood Products 26,521 60,789 137,329 242,285 General Corporate Expense (9,497) (10,124) (72,625) (47,172) ----------- ----------- ----------- ----------- 384,510 163,996 1,429,490 266,000 Interest and debt expense 53,777 59,485 226,016 235,086 Other (income) expense - net (Note 1) 2,199 (37,950) (33,089) (57,342) ----------- ----------- ----------- ----------- Income Before Income Taxes 328,534 142,461 1,236,563 88,256 Income Taxes 111,040 40,189 464,728 24,951 ----------- ----------- ----------- ----------- Net income $ 217,494 $ 102,272 $ 771,835 $ 63,305 =========== =========== =========== =========== Earnings Per Common Share: (Note 2) Primary $ 2.26 $ 1.02 $ 8.01 $ 0.38 =========== =========== =========== =========== Fully Diluted $ 2.26 $ 1.02 $ 7.67 $ 0.38 =========== =========== =========== ===========
- ------------------- Note 1: Other (income) expense -- net for the twelve months ended December 31, 1995 includes gains of $89 million from the sales of certain operations in Canada and charges of $68 million primarily for the writedown of certain U.S. paper and wood products assets. The three months and twelve months ended December 31, 1994 includes a gain of $16 million from the sale of certain assets and income of $19 million from a refund due on countervailing duties on lumber exports from Canada into the United States in prior years. Note 2: Earnings per share was calculated for each three month and twelve month period on a stand-alone basis. On June 22, 1995 the company purchased all 7,894,737 shares of Common Stock that were issued on that date upon conversion of the $92.50 Convertible Preference Stock. On June 27, 1995 the company called all $149,893,000 of its 6 1/2% Convertible Subordinated Debentures due April 15, 2011 for redemption on August 8, 1995. Virtually all of the Debentures were converted into an aggregate of 4,309,070 shares of common stock during the third quarter. The company purchased an additional 3,186,000 shares of common stock at various times during 1995. As a result of all of these transactions, the sum of the earnings per share for the four quarters of 1995 does not equal the earnings per share for the twelve months ended December 31, 1995. -----END PRIVACY-ENHANCED MESSAGE-----