-----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, CW5/aQa56vAP1hSY2HLsJt+O+hvQ1IUp1lcLtugGfFfjM2dHQkjGfG1d8jE/+80p 6doOlIjlUznwu0DtupJ7JQ== 0000895813-95-000080.txt : 19951101 0000895813-95-000080.hdr.sgml : 19951101 ACCESSION NUMBER: 0000895813-95-000080 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19951018 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 19951031 SROS: CSX SROS: NYSE FILER: COMPANY DATA: COMPANY CONFORMED NAME: NEWELL CO CENTRAL INDEX KEY: 0000814453 STANDARD INDUSTRIAL CLASSIFICATION: GLASS CONTAINERS [3221] IRS NUMBER: 363514169 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-09608 FILM NUMBER: 95585904 BUSINESS ADDRESS: STREET 1: 29 E STEPHENSON ST STREET 2: NEWELL CTR CITY: FREEPORT STATE: IL ZIP: 61032 BUSINESS PHONE: 8152354171 MAIL ADDRESS: STREET 1: 29 E STEPHENSON ST STREET 2: NEWELL CTR CITY: FREEPORT STATE: IL ZIP: 61032 FORMER COMPANY: FORMER CONFORMED NAME: NEW NEWELL CO DATE OF NAME CHANGE: 19870713 8-K 1 UNITED STATES 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 (Date of earliest event reported) October 18, 1995 --------------- NEWELL CO. - ---------------------------------------------------------------------- (Exact name of registrant as specified in its charter) Delaware 1-9608 36-3514169 - ---------------------------------------------------------------------- (State or other (Commission (IRS Employer jurisdiction of File Number) Identification No.) 29 East Stephenson Street, Freeport, Illinois 61032 - ---------------------------------------------------------------------- (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code (815) 235-4171 --------------- Item 5. Other Events. Newell Co. issued a news release dated October 18, 1995 announcing its results for the third quarter and nine months ended September 30, 1995. A copy of the news release is attached as Exhibit 99. Item 7. Financial Statements, Pro Forma Financial Information and Exhibits. (c) Exhibits. (99) News Release dated October 18, 1995. -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. NEWELL CO. (Registrant) /s/ William T. Alldredge Date: October 31, 1995 By: -------------------------- William T. Alldredge Vice President -- Finance -3- EXHIBIT INDEX Exhibit No. Description - ------- ----------- 99 News Release dated October 18, 1995 -4- EX-99 2 EXHIBIT 99 NEWS RELEASE -------------- NEWELL CO. REPORTS RECORD SALES AND EARNINGS FREEPORT, ILLINOIS, October 18, 1995 -- Newell announced today that sales and earnings reached record highs for the third quarter and nine months ended September 30, 1995. For the 1995 third quarter, net sales were $651.3 million, up 18% from $553.2 million achieved in the third quarter of 1994. Net income in the quarter increased 12% to $65.1 million from $58.0 million and earnings per share were 41 cents, an 11% increase from 37 cents achieved in the third quarter of 1994. The increase in sales for the quarter is primarily attributable to contributions from Eberhard Faber, Newell Europe, and the Del Mar and LouverDrape operations of Levolor Home Fashions, all acquired in 1994. The increases in net income and earnings per share for the quarter are primarily attributable to improved profitability at businesses owned more than two years (core businesses) and the contribution from Eberhard Faber. For the first nine months, sales were up 23% to $1,829.2 million from $1,490.2 million in 1994. Net income was $156.1 million, up 17% from $133.5 million in 1994. Earnings per share were 99 cents, up 17% from 85 cents in 1994. The increase in sales for the first nine months is also primarily attributable to the 1994 acquisitions. The increases in net income and earnings per share for the first nine months are primarily -5- attributable to contributions from the 1994 acquisitions, improved profitability at core businesses and a reduction in other nonoperating expenses vs. 1994. William P. Sovey, Newell's Vice Chairman and CEO, stated, "We're very pleased that our balanced growth strategy, which relies on contributions from acquisitions and growth on the part of our core businesses, has enabled us to achieve record sales and earnings, especially in the face of a sluggish retail environment. Through the deliberate application of our strategy, we are confident that we can produce record results for the remainder of 1995 and beyond." Newell manufactures and markets high-volume staple consumer products which are sold through a variety of retail and wholesale distribution channels. Product categories include housewares, hardware, home furnishings, and office products. -6-
NEWELL CO. CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) (in millions except per share data) Three Months Ended September 30, Nine Months Ended September 30, ------------------------------------------ ------------------------------------------ 1995 1994 % Change 1995 1994 % Change ------------ ------------ ------------ ------------ ------------ ------------ Net Sales $651.3 $553.5 17.7% $1,829.2 $1,490.2 22.7% Cost of products sold 444.1 374.0 1,265.7 1,016.3 ------------ ------------ ------------ ------------ GROSS INCOME 207.2 179.2 15.6% 563.5 473.9 18.9% % of sales 31.8% 32.4% 30.8% 31.8% Selling, general & administrative expense 87.0 76.2 268.8 228.0 ------------ ------------ ------------ ------------ OPERATING INCOME 120.2 103.0 16.7% 294.7 245.9 19.8% % of sales 18.5% 18.6% 16.1% 16.5% Nonoperating expenses: Interest expense 12.6 7.7 36.8 19.5 Interest Income (0.3) (0.2) (1.2) (0.7) Goodwill 4.8 3.8 13.9 10.9 Other (5.4) (5.0) (15.0) (9.6) ------------ ------------ ------------ ------------ 11.7 6.3 34.5 20.1 ------------ ------------ ------------ ------------ INCOME BEFORE TAXES 108.5 96.7 12.2% 260.2 225.8 15.2% % of sales 16.7% 17.5% 14.2% 15.2% Income taxes 43.4 38.7 104.1 92.3 Effective rate 40.0% 40.0% 40.0% 40.9% ------------ ------------ ------------ ------------ NET INCOME $65.1 $58.0 12.2% $156.1 $133.5 16.9% % of sales 10.0% 10.5% 8.5% 9.0% ============ ============ ============ ============ EARNINGS PER SHARE $0.41 $0.37 10.8% $0.99 $0.85 16.5% ============ ============ ============ ============ Average shares outstanding 158.4 157.8 0.4% 158.1 157.8 0.2%
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