-----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, FyXsr7VIeWrcIx9jv8vsUccYb1Y2pgSrXVu4bbPHolKtOUHId5q5qVTGKtXP78LP hJ5qQe+iJj/61Cek7lN6Ng== /in/edgar/work/20001101/0000071023-00-000026/0000071023-00-000026.txt : 20001106 0000071023-00-000026.hdr.sgml : 20001106 ACCESSION NUMBER: 0000071023-00-000026 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20001101 ITEM INFORMATION: FILED AS OF DATE: 20001101 FILER: COMPANY DATA: COMPANY CONFORMED NAME: NELSON THOMAS INC CENTRAL INDEX KEY: 0000071023 STANDARD INDUSTRIAL CLASSIFICATION: [2731 ] IRS NUMBER: 620679364 STATE OF INCORPORATION: TN FISCAL YEAR END: 0331 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 001-13788 FILM NUMBER: 750595 BUSINESS ADDRESS: STREET 1: 501 NELSON PLACE CITY: NASHVILLE STATE: TN ZIP: 37214-1000 BUSINESS PHONE: 6158899000 MAIL ADDRESS: STREET 1: P O BOX 141000 CITY: NASHVILLE STATE: TN ZIP: 37214-1000 FORMER COMPANY: FORMER CONFORMED NAME: ROYAL PUBLISHERS INC DATE OF NAME CHANGE: 19721019 8-K 1 0001.txt 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: November 1, 2000 Thomas Nelson, Inc. (Exact Name of Registrant as Specified in Charter) Tennessee 0-4095 62-0679364 (State or other (Commission File Number) (I.R.S. Employer Jurisdiction of Identification No.) Incorporation) 501 Nelson Place Nashville, Tennessee 37214-1000 (Address of Principal Executive Offices) (Zip Code) Registrant's telephone number, including area code: 615/889-9000 Item 7. Financial Statements, Pro Forma Financial Information and Exhibits. (c) Exhibits: (99) News Release, November 1, 2000. Item 9. Regulation FD Disclosure A press release issued by Thomas Nelson, Inc. on November 1, 2000 is attached hereto as Exhibit 99. 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. THOMAS NELSON, INC. By: /s/ Joe L. Powers ------------------------- Name: Joe L. Powers Title: Executive Vice President Date: November 1, 2000 INDEX TO EXHIBITS Exhibit Numbers 99 News Release, November 1, 2000. EX-99 2 0002.txt THOMAS NELSON ANNOUNCES SECOND QUARTER (FY 2001) RESULTS NASHVILLE, TN, November 1, 2000. Thomas Nelson, Inc. today announced that its revenues for the second quarter of its Fiscal Year 2001 were $81.1 million, a gain of 15.7% from the $70.1 million reported in the prior year's quarter. Net income in the quarter that ended September 30, 2000 was $3.0 million, down 29% from the $4.3 million reported in the same quarter of last year. Both basic and diluted net income per share amounted to $0.21 in this year's period compared with $0.30 in the same period a year ago. This represents a 30% decline. For the six months through September 30th, revenues were $146.6 million in the current fiscal year vs. $129.2 million last year, a 13.4% improvement. Net income was $3.8 million through the first half, compared to $5.6 million in the year ago period, a 31.7% decline. Basic and diluted earnings per share declined by 32.5%, to $0.27 vs. last year's $0.40. Commenting on the recent results, Sam Moore, Chairman and Chief Executive Officer said: "Our results for the period reflect a somewhat softer than expected sales environment for both the publishing and gift business segments. The gift division revenues were down $1.7 million or 6% from the prior year quarter. Sales and earnings in our core publishing operation were essentially flat, compared to the prior year's period," Mr. Moore noted, "with the increase in revenues coming from acquisitions made over the past twelve months. We are seeing reports that book sales, industry-wide, were below expectations during the summer; we certainly experienced that in our own operations," Mr. Moore stated. "Despite the lackluster results, our competitive position remains strong, and our products continue to enjoy leading positions in their respective marketplaces. We are working hard to analyze our business strategies in an effort to improve our financial results commensurate with our competitive position in the markets we serve." This news release includes certain forward-looking statements. Actual results could differ materially from those reflected by the forward- looking statements and a number of factors may affect future results, liquidity and capital resources. These factors include softness in the general retail environment, the timing of products being introduced to the market, the level of returns experienced by the operating divisions, the level of margins achievable in the marketplace and the ability to minimize operating expenses. Future revenue and margin trends cannot be reliably predicted and may cause the Company to adjust its business strategy during the remaining portion of the 2001 fiscal year. The Company disclaims any intent or obligation to update forward-looking statements. Thomas Nelson, Inc. is a leading publisher, producer and distributor of books emphasizing Christian, inspirational and family value themes, and believes it is the largest publisher of Bibles and inspirational books in the English language. The Company also designs and markets a broad line of gift and stationery products. For more information, visit our website www.thomasnelson.com. Thomas Nelson, Inc. will host a conference call related to the earnings release at 1:30 CST on Wednesday, November 1, 2000. Individuals may listen to the call by dialing (719) 457-2637. The live broadcast of Thomas Nelson's quarterly conference call will be available online by going to www.thomasnelson.com and clicking on the link to News and at www.streetevents.com. The online replay will follow shortly after the call and continue through November 8, 2000. Thomas Nelson's stock is listed on the New York Stock Exchange (TNM-NYSE). ### CONSOLIDATED STATEMENTS OF OPERATIONS (Dollars in thousands, except per share data)
Six Months Ended Sept. 30, Three Months Ended Sept. 30, 2000 1999 2000 1999 ---------- ----------- ---------- ----------- (Unaudited)(Unaudited) (Unaudited)(Unaudited) Net revenues $146,551 $129,226 $ 81,121 $ 70,110 Cost of goods sold 82,977 71,638 46,035 38,355 ------- ------- ------- ------- Gross profit 63,574 57,588 35,086 31,755 Selling, general and administrative 52,158 45,075 27,531 23,271 Amortization of goodwill and non- compete agreements 1,250 763 631 405 ------- ------- ------- ------- OPERATING INCOME 10,166 11,750 6,924 8,079 Other income (expense) ( 291) 249 ( 82) 227 Interest expense 3,731 3,144 1,912 1,624 ------- ------- ------- ------- Income before income taxes 6,144 8,855 4,930 6,682 Provision for income taxes 2,177 3,223 1,799 2,430 Minority interest 119 - 119 - ------- ------- ------- ------- NET INCOME $ 3,848 $ 5,632 $ 3,012 $ 4,252 Weighted average number of shares outstanding: Basic 14,255 14,253 14,278 14,227 Diluted 14,289 14,258 14,324 14,230 NET INCOME PER SHARE: Basic $ 0.27 $ 0.40 $ 0.21 $ 0.30 Diluted $ 0.27 $ 0.40 $ 0.21 $ 0.30 DIVIDENDS DECLARED PER SHARE $ 0.08 $ 0.08 $ 0.04 $ 0.04 ======== ======== ======= ========
CONSOLIDATED CONDENSED BALANCE SHEETS (Dollars in thousands)
Sept. 30, March 31, Sept. 30, 2000 2000 1999 ---------- ---------- ---------- ASSETS (Unaudited) (Unaudited) Current Assets: Cash and cash equivalents $ 666 $ 814 $ 2,860 Accounts receivable, less allowances of $7,233, $7,171 and $6,914, respectively 86,526 79,052 82,414 Inventories 86,068 74,809 66,272 Prepaid expenses 16,425 13,652 12,527 Assets held for sale 19,632 22,168 - Deferred tax assets 9,679 9,679 6,715 -------- -------- -------- Total current assets 218,996 200,174 170,788 Property, Plant and Equipment 17,797 17,423 24,709 Other Assets 8,780 9,904 9,016 Deferred Charges 659 959 1,592 Goodwill 70,964 69,770 58,321 -------- -------- -------- Total Assets $317,196 $298,230 $264,426 ======== ======== ======== LIABILITIES & SHAREHOLDERS' EQUITY Current Liabilities: Accounts payable $39,949 $27,350 $19,097 Accrued expenses 14,450 16,142 15,233 Deferred revenue 6,363 6,553 - Dividends payable 574 569 569 Income taxes currently payable 2,378 3,851 2,509 Current portion of long-term debt 5,929 7,592 2,441 ------- ------- ------- Total current liabilities 69,643 62,057 39,849 Long-Term Debt 108,249 100,359 90,066 Deferred Tax Liability & Other Liabilities 3,930 4,082 5,934 Minority Interest 119 - - Shareholders' Equity 135,255 131,732 128,577 -------- -------- -------- Total Liabilities & Shareholders' Equity $317,196 $298,230 $264,426 ======== ======== ========
THOMAS NELSON, INC. AND SUBSIDIARIES REVENUES BY PRODUCT LINE (Dollars in thousands, except per share data) (unaudited)
Second % of Second % of 2001 vs Qtr Qtr 2000 FY 2001 Total FY 2000 Total % Inc (Dec) ------- ----- ------- ----- ----------- PUBLISHING $ 53,810 66.33% $ 41,141 58.68% 30.79% GIFTS 27,311 33.67% 28,969 41.32% -5.72% -------- ------- -------- ------- ------- TOTAL $ 81,121 100.00% $ 70,110 100.00% 15.71% ======== ======= ======== ======= ====== YTD % of YTD % of 2001 vs 2000 FY 2001 Total FY 2000 Total % Inc (Dec) ------- ----- ------- ----- ------------ PUBLISHING $100,715 68.72% $ 80,527 62.31% 25.07% GIFTS 45,836 31.28% 48,699 37.69% -5.88% -------- ------ ------- ------ ------ TOTAL $146,551 100.00% $129,226 100.00% 13.41% ======== ======= ======== ======= ======
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