-----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, ANwWc5bhHhhNmERBxaLzW4x09xt7Irj/g92Z5pUPPL+DgRQNm/UnDLKR/i27dYU+ vu8FFDbyucksLFFgrKbqow== 0000950172-98-000388.txt : 19980410 0000950172-98-000388.hdr.sgml : 19980410 ACCESSION NUMBER: 0000950172-98-000388 CONFORMED SUBMISSION TYPE: 8-K/A PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 19980324 ITEM INFORMATION: FILED AS OF DATE: 19980409 SROS: NYSE FILER: COMPANY DATA: COMPANY CONFORMED NAME: COLEMAN CO INC CENTRAL INDEX KEY: 0000021627 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRIC LIGHTING & WIRING EQUIPMENT [3640] IRS NUMBER: 133639257 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K/A SEC ACT: SEC FILE NUMBER: 001-00988 FILM NUMBER: 98591024 BUSINESS ADDRESS: STREET 1: 2111 E 37TH STREET NORTH CITY: WICHITA STATE: KS ZIP: 67219 BUSINESS PHONE: 3032022400 MAIL ADDRESS: STREET 1: 2111 E 37TH STREET NORTH CITY: WICHITA STATE: KS ZIP: 67219 8-K/A 1 SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 ----------------------- FORM 8-K/A CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 MARCH 24, 1998 Date of Report (Date of earliest event reported) THE COLEMAN COMPANY, INC. (Exact name of Registrant as specified in its charter) DELAWARE 1-988 13-3639257 (State of Incorporation (Commission File No.) (IRS Employer Identification No.) 2111 E. 37TH STREET NORTH WICHITA, KANSAS 67219 (Address of principal executive offices, including zip code) (316) 832-2700 (Registrant's telephone number, including area code) The Coleman Company, Inc. (the "Registrant") hereby amends its Current Report on Form 8-K dated March 24, 1998, filed with the Securities and Exchange Commission on April 3, 1998, to include the following pro forma financial information regarding the sale of all of the outstanding shares of capital stock of Coleman Safety & Security Products, Inc. by the Registrant, as required by Item 7(b). Item 7. Financial Statements, Pro Forma Financial Information and Exhibits. (b) Pro Forma Financial Information The following pro forma financial statements are filed as part of this report: Pro Forma Balance Sheet as of December 31, 1997 (unaudited) Pro Forma Statement of Operations for the year ended December 31, 1997 (unaudited) 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. THE COLEMAN COMPANY, INC. By: /s/ David C. Fannin ____________________________ Name: David C. Fannin Title: Executive Vice President, General Counsel and Secretary Date: April 9, 1998 THE COLEMAN COMPANY, INC. AND SUBSIDIARIES PRO FORMA BALANCE SHEET AS OF DECEMBER 31, 1997 (In Thousands) (unaudited)
Pro Forma Adjustments 1997 --------------------- 1997 Reported $ Reference Pro Forma -------- --- --------- --------- ASSETS Cash and cash equivalents $ 13,031 $ -- $ 13,031 Receivables, net 179,756 (16,335) (1) 163,421 Inventories 236,327 (17,624) (1) 218,703 Prepaid expenses and other current assets 62,582 (1,655) (1), (2) 60,927 ---------- -------- -------- Total current assets 491,696 (35,614) 456,082 Property, plant and equipment, net 175,494 (10,746) (1) 164,748 Intangible assets related to businesses acquired, net 332,468 (37,874) (3) 294,594 Deferred tax assets and other 42,106 469 (2) 42,575 ---------- -------- -------- $1,041,764 $(83,765) $957,999 ========== ======== ======== LIABILITIES AND STOCKHOLDERS' EQUITY Short-term debt and current portion of long-term debt $ 64,730 $ (80) (1) $ 64,650 Other current liabilities 188,467 (8,588) (1) 179,879 ---------- -------- -------- Total current liabilities 253,197 (8,668) 244,529 Long-term debt 477,276 (89,037) (4) 388,239 Other liabilities 69,586 (422) (1) 69,164 Minority interest 1,236 -- 1,236 Stockholders' equity 240,469 14,362 (5) 254,831 ---------- -------- -------- $1,041,764 $(83,765) $957,999 ========== ======== ========
(1) Coleman Safety & Security assets and liabilities sold. (2) Write-off deferred tax assets related to assets and liabilities sold. (3) Write-off of goodwill associated with Coleman Safety & Security. (4) Apply net cash proceeds to pay down debt. (5) After-tax gain from sale of Coleman Safety & Security. THE COLEMAN COMPANY, INC. AND SUBSIDIARIES PRO FORMA STATEMENT OF OPERATIONS FOR THE YEAR ENDED DECEMBER 31, 1997 (In Thousands) (unaudited)
Pro Forma Adjustments 1997 --------------------- 1997 Reported $ Reference Pro Forma -------- --- --------- --------- Net revenues $1,154,294 $(88,413) (1) $1,065,881 Cost of sales 840,331 (59,886) (1) 780,445 ---------- -------- ---------- Gross profit 313,963 (28,527) 285,436 Selling, general and administrative expenses 266,283 (19,608) (1) 246,675 Interest expense, net 40,852 (4,396) (2) 36,456 Amortization of goodwill and deferred charges 11,338 (992) (1) 10,346 Other expense, net 1,867 52 (1) 1,919 ---------- -------- ---------- (Loss)/income before income taxes and minority interest (6,377) (3,583) (9,960) Income tax (benefit)/expense (5,227) (1,362) (3) (6,589) Minority interest 1,386 -- 1,386 ---------- -------- ---------- Net (loss)/earnings $ (2,536) $ (2,221) $ (4,757) ========== ======== ========== Basic (loss)/earnings per share $(0.05) $(0.04) $(0.09) Diluted (loss)/earnings per share $(0.05) $(0.04) $(0.09)
(1) Adjustment to reflect removal of Coleman Safety & Security operating results for 1997. (2) Adjustment to reflect the pro forma effect of the application of proceeds to reduce debt. (3) Pro forma adjustment to income taxes based on the incremental tax rate of 38%. -----END PRIVACY-ENHANCED MESSAGE-----