-----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, Mddhhu1APzlhkpmQ+39gbelpo30ywf9fjxxra0NQQBsJNL2M1x7wmTObYTjVRv4U 293Wbs/J3JvUcg5TfN4qwg== 0000950144-97-012796.txt : 19971126 0000950144-97-012796.hdr.sgml : 19971126 ACCESSION NUMBER: 0000950144-97-012796 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19971015 ITEM INFORMATION: ITEM INFORMATION: FILED AS OF DATE: 19971125 SROS: NYSE FILER: COMPANY DATA: COMPANY CONFORMED NAME: CATALINA MARKETING CORP/DE CENTRAL INDEX KEY: 0000883977 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-ADVERTISING AGENCIES [7311] IRS NUMBER: 330499007 STATE OF INCORPORATION: DE FISCAL YEAR END: 0331 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 001-11008 FILM NUMBER: 97727556 BUSINESS ADDRESS: STREET 1: 11300 9TH ST NORTH CITY: ST PETERSBURG STATE: FL ZIP: 33716 BUSINESS PHONE: 8135795000 MAIL ADDRESS: STREET 1: 11300 9TH STREET NORTH CITY: ST PETERSBURG STATE: FL ZIP: 33716-2329 8-K 1 CATALINA MARKETING 8-K 1 SECURITIES AND EXCHANGE COMMISSION WASHINGTON D.C. 20549 FORM 8-K PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of Report (Date of earliest event reported): October 15, 1997 Catalina Marketing Corporation (Exact name of registrant as specified in its charter) Delaware (State or other jurisdiction of incorporation) 1-11008 33-0499007 Commission File Number (IRS Employer Identification No.) 11300 9th Street North 33716 St. Petersburg, Florida (Zip code) (Address of principal executive offices) (813) 579-5000 Registrant's Telephone Number 2 Item 5. Other Events. On October 15, 1997 Catalina Marketing Corporation (the Company) issued a press release communicating its fiscal 1998 second quarter earnings, included in this report as Exhibit 99.2. 3 Item 7. Exhibits. 99.2 Form of press release dated October 15, 1997. 4 SIGNATURE Pursuant to the requirements of Section 12 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. CATALINA MARKETING CORPORATION By /s/ PHILIP B. LIVINGSTON ------------------------------- Philip B. Livingston, Senior Vice President and Chief Financial Officer Dated: November 25, 1997 EX-99.2 2 PRESS RELEASE 1 Exhibit 99.2 CATALINA [LOGO] MARKETING CORPORATION NEWS - -------------------------------------------------------------------------------- FOR IMMEDIATE RELEASE CONTACT: Philip B. Livingston Senior Vice President and Chief Financial Officer 813-579-5006 Bruce Valentine Treasurer 813-579-5210 CATALINA MARKETING REPORTS RECORD REVENUE AND EARNINGS PER SHARE ST. PETERSBURG, Florida, October 15, 1997 - Catalina Marketing Corporation (NYSE: POS) today announced that for the second quarter ended September 30, 1997, earnings per share increased 23 percent to 43 cents versus 35 cents reported for the comparable period a year ago. The company's net income was $8.2 million on total revenue of $52.7 million, compared to net income of $7.2 million on revenue of $41.6 million in the September 1996 quarter. The company's revenue growth amounted to a 27 percent increase over the year-ago quarter. For the six month period ended September 30, 1997, total revenue increased 25 percent to $99.4 million versus $79.7 million posted in the first half of fiscal 1997. Earnings per share was 73 cents versus 66 cents reported a year ago. George W. Off, president and chief executive officer, commented, "We were pleased with the quarter's results, as we achieved record levels of revenue and earnings per share. The $53 million in consolidated revenue for the quarter included solid top-line growth in our core domestic business, and we continued to benefit from new product initiatives like Checkout Direct. In addition, our new ventures and international operations were growing contributors to the top line. We feel that we are positioned for a successful second half." Other highlights for the quarter included the following: * Quarterly cash flow, or EBITDA, increased 32 percent to $19.9 million from the comparable period a year ago. Total operating expenses before depreciation and amortization decreased as a percent of revenue, resulting in an improved EBITDA margin of 38 percent versus 36 percent a year ago. On a trailing twelve month basis, EBITDA reached $67.9 million, up 25 percent over the comparable period a year ago. - more - 2 * Net income was up 15 percent over the second quarter a year ago. The difference between this mark and the 23 percent increase in earnings per share reflects the company's share repurchase activity and related interest costs. Over the twelve month period ended September 30, 1997, the company has repurchased 1.6 million common shares for $49.0 million at an average price of $30.59 per share, with the activity occurring in the December, March, and June quarters. Revolving credit borrowings for this purpose were as high as $22 million during the first quarter ended June 30 and were reduced to $1.7 million as of September 30. * The company made continued progress in store installations in the United Kingdom, France and Japan. In the U.K., store installations began in the Somerfield chain under a contract to install over 400 stores by the end of the calendar year. In France, the roll-out of Champion stores commenced under an agreement calling for the installation of 500 stores before the end of next year. In Japan, a second retailer pilot was launched with the 200-store Seiyu chain. * Health Resource Publishing Company (HRPC), which delivers targeted promotions and advertising in over 1,400 pharmacy outlets, announced that it has signed an installation agreement with the 4,000 store Rite Aid chain. The agreement provides for HRPC's program to be rolled out in over 1,000 West-coast Rite Aid stores over the next 12 months, with installations to commence in the remaining Rite Aid pharmacies thereafter. * SuperMarkets Online, Inc. announced that it is launching a secure Internet coupon solution this fall that will give packaged goods manufacturers and retailers an important tool for linking Internet marketing with the Catalina Marketing Network(R) on a national scale. * Net income for the quarter included pre-tax losses from domestic new business ventures of $1.6 million, or five cents per share after tax. In the comparable quarter a year ago, the company's net income reflected pre-tax losses from domestic new business ventures of $3.1 million, or nine cents per share on an after-tax basis. Based in St. Petersburg, Florida, Catalina Marketing Corporation provides in-store electronic marketing programs for more than 150 consumer goods companies. The Catalina Marketing Network(R) reaches more than 142 million shoppers each week in over 10,800 supermarkets across the United States. The company consists of four distinct business units: Catalina Marketing Services, which markets the company's core electronic marketing programs; Catalina Marketing International, which markets Network programs abroad; Health Resource Publishing Company, which delivers incentives through customized newsletters in the pharmacy; and SuperMarkets Online, Inc., which distributes targeted consumer goods promotions on the World Wide Web. - 2 - 3 CATALINA MARKETING CORPORATION Selected Financial Data (in thousands, except per share amounts)
Three Months Six Months ------------ ---------- Periods ended September 30 1997 1996 1997 1996 ---- ---- ---- ---- Revenue $52,727 $41,618 $99,386 $79,745 Direct Operating Expenses 20,407 14,863 38,440 27,999 Selling, General and Administrative 12,421 11,658 25,317 22,812 Depreciation and Amortization 5,923 4,090 11,614 7,754 Income from Operations 13,976 11,007 24,015 21,180 Interest Income/(Expense) and Other (390) 341 (783) 573 Minority Interest - 212 - 372 Provision for Income Taxes 5,342 4,371 9,351 8,642 Net Income 8,244 7,189 $13,881 13,483 Earnings Per Share $ 0.43 $ 0.35 $ 0.73 $ 0.66 Weighted Average Shares Outstanding 19,146 20,608 19,135 20,580
Selected Other Data
September 30 ------------ 1997 1996 ---- ---- Balance Sheet and Cash Flow (in thousands): - ------------------------------------------- Cash $ 2,769 $ 25,894 Stockholders' Equity 75,914 88,294 Twelve Month EBITDA 67,977 54,400 U.S. Checkout Coupon Business: - ------------------------------ Number of Stores at Quarter End 10,801 10,470 Net Stores Installed During Quarter/YTD (31)/56 385/704 Promotions Printed During Quarter/YTd (in millions) 660/1,257 574/1,095 Weekly Shopper Reach at Quarter End (in millions) 142 136 International Checkout Coupon Business: - --------------------------------------- Number of Stores at Quarter End 913 690 Net Stores Installed During Quarter/YTD (144)/(28) 68/132 Promotions Printed During Quarter/YTD (in millions) 78/184 48/98 Weekly Shopper Reach at Quarter End (in millions) 15 14
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