-----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, F+3qMTN69bLpyjQtUJ7Uay7BWmNsmyA/NoZmadeReXuUN+hu+jNGRcVIvhvL3EJR SEfyBPbJNWyHg9vXXi7VcQ== 0000895813-96-000008.txt : 19960207 0000895813-96-000008.hdr.sgml : 19960207 ACCESSION NUMBER: 0000895813-96-000008 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19960129 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 19960206 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: 96511843 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) January 29, 1996 --------------- 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 January 29, 1996 announcing its results for the fourth quarter and year ended December 31, 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 January 29, 1996. -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: February 6, 1996 By: -------------------------- William T. Alldredge Vice President -- Finance -3- EXHIBIT INDEX Exhibit No. Description - ------- ----------- 99 News Release dated January 29, 1996 -4- EX-99 2 EXHIBIT 99 NEWS RELEASE -------------- NEWELL CO. REPORTS RECORD FOURTH QUARTER RESULTS 1995 FULL YEAR SALES AND EARNINGS REACH AN ALL-TIME HIGH 1995 FULL YEAR RETURN ON EQUITY REACHES 20% FREEPORT, IL, January 29, 1996 -- Newell announced today that sales and earnings reached record levels for both the fourth quarter and full year ended December 31, 1995. For the 1995 fourth quarter, net sales were a record $669.2 million, up 14% from $584.7 million achieved in the fourth quarter of 1994. Net income for the fourth quarter of 1995 increased 7% to $66.1 million and earnings per share were 42 cents, an 8% increase from 39 cents achieved in the fourth quarter of 1994. The increase in sales for the quarter is primarily attributable to the incremental sales from the 1994 acquisition of Newell Europe and the 1995 acquisitions, including Decorel and Berol. The increases in net income and earnings per share are primarily attributable to the contributions from the 1994 acquisition of Eberhard Faber and the 1995 acquisition of Decorel. For the full year 1995, sales were up 20% to $2,498.4 million from $2,074.9 million in 1994. Net income for the full year 1995 was $222.5 million, an increase of 14% from $195.6 million in 1994 and earnings per share were $1.41, up 14% from $1.24 in 1994. The increase in sales for the full year 1995 is primarily attributable to the incremental sales from the 1994 acquisitions of Home Fashions, Inc., Eberhard Faber and Newell Europe and the 1995 -5- acquisitions, including Decorel and Berol. The increases in net income and earnings per share are primarily attributable to contributions from the 1994 acquisitions and improved profitability at businesses owned more than two years. "We're pleased that we were able to meet or exceed most of our financial goals during a difficult period in the retail marketplace," stated William P. Sovey, Newell's Vice Chairman and CEO. "Credit for this performance goes to the men and women of Newell, who distinguished themselves and our entire company by their efforts throughout the year. It was their outstanding contribution that enabled us to turn in record results." "We enter 1996 a truly global company, excited about our opportunities at home and abroad," added Mr. Sovey. "The rest of the decade offers us many opportunities and we intend to take advantage of them so that we may continue to provide above average returns to our stockholders." 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 December 31, Twelve Months Ended December 31, ------------------------------------------ ------------------------------------------ 1995 1994 % Change 1995 1994 % Change ------------ ------------ ------------ ------------ ------------ ------------ Net Sales 669.2 584.7 14.5% $2,498.4 $2,074.9 20.4% Cost of products sold 449.9 387.5 1,715.6 1,403.8 ------------ ------------ ------------ ------------ GROSS INCOME 219.3 197.2 11.2% 782.8 671.1 16.6% % of sales 32.8% 33.7% 31.3% 32.3% Selling, general & 94.5 85.2 363.3 313.2 administrative expense ------------ ------------ ------------ ------------ OPERATING INCOME 124.8 112.0 11.4% 419.5 357.9 17.2% % of sales 18.6% 19.2% 16.8% 17.2% Nonoperating expenses: Interest expense 13.0 10.5 49.8 30.0 Interest Income (0.7) (0.3) (1.9) (1.0) Goodwill 5.4 4.5 19.3 15.4 Other (3.5) (6.2) (18.5) (15.8) ------------ ------------ ------------ ------------ 14.2 8.5 48.7 28.6 ------------ ------------ ------------ ------------ INCOME BEFORE TAXES 110.6 103.5 6.9% 370.8 329.8 12.6% % of sales 16.5% 17.7% 14.8% 15.9% Income taxes 44.2 41.4 148.3 133.7 Effective rate 40.0% 40.0% 40.0% 40.6% ------------ ------------ ------------ ------------ NET INCOME 66.4 62.1 6.9% $222.5 $195.6 13.8% % of sales 9.9% 10.6% 8.9% 9.4% ============ ============ ============ ============ EARNINGS PER SHARE 0.42 0.39 7.7% $1.41 $1.24 13.7% ============ ============ ============ ============ Average shares outstanding 158.6 157.8 0.5% 158.2 157.8 0.3%
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