8-K 1 d8k.txt FORM 8-K 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) April 16, 2002 -------------------------------- AptarGroup, Inc. -------------------------------------------------------------------------------- (Exact name of registrant as specified in its charter) Delaware 1-11846 36-3853103 -------------------------------------------------------------------------------- State of other jurisdiction (Commission (IRS Employer Of incorporation) File Number) Identification No.) 475 W. Terra Cotta Ave., Suite E, Crystal Lake, Illinois 60014 -------------------------------------------------------------------------------- (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code (815) 477-0424 ------------------------------ ________________________________________________________________________________ (Former name or former address, if changed since last report.) Item 5. Other Events and Regulation FD Disclosure The following table represents quarterly revenue and earnings data by reportable segment for 2001. (Amounts in thousands)
Year ended Dispensing Corporate December 31, 2001 Systems SeaquistPerfect and Other Consolidated ------------------------------------------------------------------------------------------------------------------------------------ Total Revenue Quarter 1 $ 193,181 $ 42,028 $ 235,209 Quarter 2 195,815 38,267 234,082 Quarter 3 186,495 37,768 224,263 Quarter 4 172,168 36,096 208,264 ------------ -------------- ------------ Full Year $ 747,659 $ 154,159 -- $ 901,818 Less: Intersegment Sales Quarter 1 $ 134 $ 2,176 $ 2,310 Quarter 2 340 1,973 2,313 Quarter 3 368 2,283 2,651 Quarter 4 361 2,197 2,558 ------------ -------------- ------------ Full Year $ 1,203 $ 8,629 -- $ 9,832 Net Sales Quarter 1 $ 193,047 $ 39,852 $ 232,899 Quarter 2 195,475 36,294 231,769 Quarter 3 186,127 35,485 221,612 Quarter 4 171,807 33,899 205,706 ------------ -------------- ------------ Full Year $ 746,456 $ 145,530 -- $ 891,986 EBIT /(1)/ /(2)/ Quarter 1 $ 31,549 $ 2,600 $ (2,899) $ 31,250 Quarter 2 34,706 1,681 (2,684) 33,703 Quarter 3 30,028 1,504 (3,808) 27,724 Quarter 4 23,478 58 (4,498) 19,038 ------------ -------------- ---------- ------------ Full Year $ 119,761 $ 5,843 $ (13,889) $ 111,715
/(1)/ EBIT is defined as earnings before interest expense in excess of interest income, corporate expenses and income taxes. /(2)/ EBIT includes the following amounts for goodwill amortization. Quarter 1 $ 880 $ 25 $ 3 $ 908 Quarter 2 875 25 3 903 Quarter 3 876 31 3 910 Quarter 4 887 35 3 925 ------------ -------------- ------------ ------------ Full Year $ 3,518 $ 116 $ 12 $ 3,646
Reconciliations to Consolidated Totals
---------------------------------------------------------------------------------------------------------------------------------- Year Ended December 31, 2001 Quarter 1 Quarter 2 Quarter 3 Quarter 4 Total Year ---------------------------------------------------------------------------------------------------------------------------------- Income Before Income Taxes: Total EBIT for reportable segments $ 31,250 $ 33,703 $ 27,724 $ 19,038 $ 111,715 Strategic initiative charges/(1)/ (7,739) (1,031) (840) (9,610) Interest expense, net (3,963) (3,895) (3,170) (2,722) (13,750) -------- -------- -------- -------- --------- Income before income taxes $ 27,287 $ 22,069 $ 23,523 $ 15,476 $ 88,355
/(1)/ Strategic initiative related costs are associated with the Dispensing Systems segment. Management evaluates the segment profitability excluding these costs and therefore these costs are shown as reconciling items to the consolidated totals. 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. AptarGroup, Inc. -------------------------------------------- (Registrant) Date April 16, 2002 /s/ Stephen J. Hagge ---------------------- -------------------------------------------- Stephen J. Hagge Executive Vice President, Chief Financial Officer and Secretary