-----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, S+o6h9hv4jrBtAIbfDPbD/K4vu7cIMx27PkRafPUjmXsHD646pDNEbmf/4pDZ3Lz wXSDSPUNXGr+JuE95ZSdVA== 0000919463-03-000006.txt : 20030425 0000919463-03-000006.hdr.sgml : 20030425 20030425142151 ACCESSION NUMBER: 0000919463-03-000006 CONFORMED SUBMISSION TYPE: 8-K/A PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20030421 ITEM INFORMATION: Financial statements and exhibits ITEM INFORMATION: Regulation FD Disclosure FILED AS OF DATE: 20030425 FILER: COMPANY DATA: COMPANY CONFORMED NAME: BPC HOLDING CORP CENTRAL INDEX KEY: 0000919465 STANDARD INDUSTRIAL CLASSIFICATION: PLASTICS PRODUCTS, NEC [3089] IRS NUMBER: 351814673 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K/A SEC ACT: 1934 Act SEC FILE NUMBER: 033-75706-01 FILM NUMBER: 03664358 BUSINESS ADDRESS: STREET 1: 101 OAKLEY ST STREET 2: P O BOX 959 CITY: EVANSVILLE STATE: IN ZIP: 47710 BUSINESS PHONE: 8124242904 FILER: COMPANY DATA: COMPANY CONFORMED NAME: BERRY PLASTICS CORP CENTRAL INDEX KEY: 0000919463 STANDARD INDUSTRIAL CLASSIFICATION: PLASTICS PRODUCTS, NEC [3089] IRS NUMBER: 351813706 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K/A SEC ACT: 1934 Act SEC FILE NUMBER: 033-75706 FILM NUMBER: 03664356 BUSINESS ADDRESS: STREET 1: 101 OAKLEY ST STREET 2: P O BOX 959 CITY: EVANSVILLE STATE: IN ZIP: 47710 BUSINESS PHONE: 8124242904 MAIL ADDRESS: STREET 1: PO BOX 959 CITY: EVANSVILLE STATE: IN ZIP: 47706-0959 8-K/A 1 bpc8k103.txt 8K/A SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 8-K/A (Amendment No. 1) 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 25, 2003 (APRIL 21, 2003) BPC HOLDING CORPORATION (Exact name of registrant as specified in charter) DELAWARE 35-1814673 (State or other jurisdiction of Incorporation) (IRS employer identification number) 33-75706-01 (Commission File Number) BERRY PLASTICS CORPORATION (Exact name of registrant as specified in charter) DELAWARE 35-1813706 (State or Other Jurisdiction of Incorporation)) (IRS employer identification number) 33-75706 (Commission File Number) 101 OAKLEY STREET, EVANSVILLE, INDIANA 47710 (Address of principal executive offices) (Zip code) (812) 424-2904 (Registrants' telephone number, including area code) ITEM 7. - FINANCIAL STATEMENTS AND EXHIBITS (c) Exhibits. 99.1 Press Release of BPC Holding Corporation, dated April 21, 2003 ITEM 9. - REGULATION FD DISCLOSURE On April 21, 2003, BPC Holding Corporation issued the press release attached hereto as Exhibit 99.1. This information is also being furnished pursuant to Item 12 - Results of Operations and Financial Condition of Form 8-K. SIGNATURES Pursuant to the requirements of the Securities and Exchange Act of 1934, the registrants have duly cause this report to be signed on its behalf by the undersigned hereunto duly authorized. BPC HOLDING CORPORATION BERRY PLASTICS CORPORATION Dated: April 25, 2003 By: /S/ JAMES M. KRATOCHVIL _______________________________________ James M. Kratochvil Executive Vice President, Chief Financial Officer, Treasurer and Secretary of the entities listed above (Principal Financial and Accounting Officer) INDEX TO EXHBITS EXHIBIT NUMBER DESCRIPTION OF EXHIBIT 99.1 Press Release of BPC Holding Corporation, dated April 21, 2003 EX-99.1 CHARTER 3 prrel42103.txt PRESS RELEASE Exhibit 99.1 Contact: Jim Kratochvil Executive Vice President, Chief Financial Officer, Treasurer & Secretary 812/424-2904 BPC HOLDING CORPORATION ANNOUNCES 2003 FIRST QUARTER EARNINGS FOR IMMEDIATE RELEASE: EVANSVILLE, IN, April 21, 2003 - BPC Holding Corporation, parent of Berry Plastics Corporation, today announced financial results for the first quarter of 2003. The press release will be available on the company's website at www.berryplastics.com under the header "news." For the quarter ended March 29, 2003, the company announced net sales of $125.4 million, an increase of 2 percent from $122.9 million in the first quarter of 2002. This increase of $2.5 million can be primarily attributed to increased selling prices as a result of higher resin costs. Operating income and net income totaled $17.1 million and $3.1 million, respectively, for the first quarter of 2003 as compared to operating income and net income of $17.6 million and $4.8 million, respectively, for the quarter ended March 30, 2002. The company also reported Adjusted EBITDA for the quarter ended March 29, 2003 of $27.6 million, representing a 7 percent decrease from Berry's first quarter of 2002 Adjusted EBITDA of $29.7 million. The decrease of $2.1 million in Adjusted EBITDA can be primarily attributed to the cyclical impact of higher resin costs partially offset by cost reduction initiatives. The company references Adjusted EBITDA as a performance measurement, as the company believes this provides another indicator of operating performance. Capital investments totaled $10.1 million in the first quarter of 2003 compared to $9.8 million in the first quarter of 2002. Total debt as of March 29, 2003 was approximately $613.1 million. 2003 First Quarter Earnings Press Release Page 2 April 21, 2003 The following table reconciles Adjusted EBITDA to net income as CALCULATED AND PRESENTED IN ACCORDANCE WITH GAAP, AS THE MOST DIRECTLY COMPARABLE GAAP FINANCIAL MEASURE:
Quarter Ended ------------------------------------ March 29, March 30, 2003 2002 ------------------ ----------------- ($ in millions) Adjusted EBITDA $27.6 $29.7 Net interest expense (11.5) (12.8) Depreciation (9.6) (10.4) Amortization (0.6) (0.5) Loss on disposal of property and equipment - (0.1) Plant shutdown expense (0.3) (0.9) Acquisition integration expense - (0.2) Management fees - (0.1) Income taxes (2.5) 0.1 ------------------ ----------------- Net income $ 3.1 $ 4.8 ================== =================
BERRY PLASTICS CORPORATION IS A LEADING MANUFACTURER AND MARKETER OF INJECTION-MOLDED AND THERMOFORMED PLASTIC OPEN-TOP CONTAINERS, AEROSOL OVERCAPS, CLOSURES, DRINK CUPS, AND HOUSEWARES. THE COMPANY IS HEADQUARTERED IN EVANSVILLE, INDIANA, AND, TOGETHER WITH ITS SUBSIDIARIES, HAS PLANTS IN HENDERSON, NEVADA; IOWA FALLS, IOWA; CHARLOTTE, NORTH CAROLINA; LAWRENCE, KANSAS; SUFFOLK, VIRGINIA; MONROEVILLE, OHIO; WOODSTOCK, ILLINOIS; STREETSBORO, OHIO; BALTIMORE, MARYLAND; NORWICH, ENGLAND; MILAN, ITALY AND A SALES OFFICE IN MEXICO CITY, MEXICO. BERRY PLASTICS' PRINCIPAL OWNERS INCLUDE GOLDMAN SACHS CAPITAL PARTNERS, J. P. MORGAN PARTNERS, AND MEMBERS OF BERRY'S MANAGEMENT. # # # -----END PRIVACY-ENHANCED MESSAGE-----