<PAGE> 1
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-K/A
AMENDMENT NO. 1
TO
(Mark One)
[X] ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934
For the fiscal year ended December 28, 1997
[ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934
For the transition period from _________________ to __________________
Commission File Number 00028230
PLANET HOLLYWOOD INTERNATIONAL, INC.
(Exact name of registrant as specified in its charter)
Delaware 59-3283783
(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification Number)
8669 Commodity Circle
Orlando, Florida 32819
(Address of principal executive office, including zip code)
(407) 363-7827
(Registrant's telephone number, including area code)
Securities registered pursuant to Section 12(b) of the Act:
Title of each class Name of each exchange on which registered
------------------- -----------------------------------------
Class A Common Stock, $0.01 par value New York Stock Exchange
Securities registered pursuant to Section 12(g) of the Act:
(Title of class)
-----------------
None
Indicate by check mark whether the registrant (1) has filed all reports
required to be filed by Section 13 or 15(d) of the Securities Exchange Act of
1934 during the preceding 12 months (or for such shorter) period that the
registrant was required to file such reports, and (2) has been subject to such
filing requirements for the past 90 days. Yes [ X ] No [ ]
----- -----
<PAGE> 2
Indicate by check mark if disclosure of delinquent filers pursuant to
Item 405 of Regulation S-K is not contained herein, and will not be contained,
to the best of the registrant's knowledge, in definitive proxy or information
statements incorporated by reference in Part III of this Form 10-K or any
amendment to this Form 10-K. [ X ]
---
The approximate aggregate market value of the registrant's Class A voting
common stock held by non-affiliates of the registrant, based on the closing
price of $11.125 per share as reported on the New York Stock Exchange as of the
close of business on March 12, 1998 is $316,873,431. The approximate aggregate
market value of the registrant's non-voting common stock held by
non-affiliates of the registrant, based on the assumption that such stock on a
per share basis should be valued at approximately 65% of the value per share of
the registrant's Class A voting common stock, as of the close of business on
March 12, 1998 is $30,533,794. Such assumption is based in part on the
convertibility restrictions imposed upon, and the lack of public trading in,
the registrant's Class B non-voting common stock.
As of March 12, 1998, there were approximately 97,028,247 shares of the
registrant's Class A voting common stock and 11,764,144 shares of the
registrant's Class B non-voting common stock outstanding.
The Registrant's Definitive Proxy Statement to be filed in connection with
the registrant's annual stockholders meeting to be held on May 22, 1998, is
incorporated by reference into Part III hereof.
EXPLANATORY STATEMENT
This Amendment No. 1 to the Annual Report on Form 10-K for Planet
Hollywood International, Inc. (the "Company") for the fiscal year ended
December 28, 1997 is being filed to amend Item 14(a)(3) by adding as Exhibits,
certain restated financial data schedules.
As reported in the Company's Annual Report on Form 10-K for the fiscal
year ended December 28, 1997 (the "Initial Form 10-K"), in February 1997, the
Financial Accounting Standards Board (FASB) adopted Statement of Financial
Accounting Standards (SFAS) no. 128, "Earnings Per Share," which caused the
Company to change in fiscal 1997 statements the way that it calculated and
displayed earnings per share information. Although earnings per share
information presented in the Initial Form 10-K for prior periods was restated
to the new method, financial data schedules for prior periods, restated in
accordance with SFAS no. 128, were not included. Such restated financial data
schedules are filed pursuant to this Amendment No. 1.
2
<PAGE> 3
PART IV
ITEM 14. EXHIBITS, FINANCIAL SCHEDULES, AND REPORTS ON FORM 8-K
(a) 3. EXHIBITS
<TABLE>
<CAPTION>
Exhibit
Number Description
------ -----------
<S> <C>
3.1* Restated Certificate of Incorporation of the Registrant
3.2* First Amended and Restated Bylaws of the Registrant
4.1* Form of Warrant
4.2* Revolving Credit Agreement dated as of January 29, 1996 among the Registrant and SunTrust Bank
4.3** Revolving Credit and Term Loan Agreement dated as of September 18, 1997 among the Registrant,
SunTrust Bank and certain other banks
4.4** First Amendment to Revolving Credit and Term Loan Agreement dated as of October 1, 1997 among
the Registrant, SunTrust Bank and certain other banks
10.1* Form of Master Franchise Agreement
10.2* Form of Memorabilia Lease
10.3* Form of License Agreement
10.4* Asset Purchase Agreement dated November 8, 1995 between the Registrant and America Europe Asia
International Trade and Management Consultants, Ltd.
10.5* Ground Lease Agreement between Lake Buena Vista Communications, Inc. and Planet Hollywood
(Orlando), Inc.
10.6* License Agreement dated as of December 4, 1992, by and between the Registrant and Planet
Hollywood (Asia) Pte. Ltd.
10.7* First Amendment to the License Agreement dated as of July 1, 1995, by and between the
Registrant and Planet Hollywood (Asia) Pte. Ltd.
10.7A** Second Amendment to the License Agreement dated as of October 1, 1995, by and between the
Registrant and Planet Hollywood (Asia) Pte. Ltd.
10.7B** Third Amendment to the License Agreement dated as of November 6, 1998, by and between the
Registrant and Planet Hollywood (Asia) Pte. Ltd.
10.8* Form of Master Franchise Agreement for All Star Cafe, Inc.
10.9* Form of Letter Agreement, dated February 15, 1996, among stockholders of All Star Cafe, Inc.
10.10* Joint Venture Agreement dated December 9, 1994, between Marvel Restaurant Venture Corp. and
EBCO Management, Inc.
10.11* License Agreement dated March 19, 1996, between Marvel Entertainment Group, Inc. and M
Restaurant Venture
10.12* 1995 Celebrity Stock Award and Incentive Plan
10.13* 1995 Stock Award and Incentive Plan
10.14* Form of Stock Option Award Agreement for options granted under the 1995 Celebrity Stock Award
and Incentive Plan
10.15* Form of Stock Option Award Agreement for options granted under the 1995 Stock Award and
Incentive Plan
10.16* Employment Agreement dated August 8, 1995, between the Registrant and Robert Earl
10.17* Employment Agreement dated January 1, 1993, between the Registrant and Keith Barish
10.18* Letter Agreement dated March 18, 1994, between the Registrant and Kraft Foodservice, Inc.
</TABLE>
3
<PAGE> 4
<TABLE>
<S> <C>
10.19** Limited Partnership Agreement of Planet Movies Company, L.P. dated October 17, 1997
10.20** Master Agreement dated as of December 2, 1997 relating to the joint venture transaction between
Planet Hospitality Holdings, Inc. and Times Square Partners LLC and others [relating to Planet
Hollywood Hotel venture]
21.1** Subsidiaries
23.1** Consent of Price Waterhouse LLP
24.1** Powers of Attorney (included in signature page)
27.1 Restated Financial Data Schedule for the fiscal year ended DEC-28-1997
27.2 Restated Financial Data Schedule for the thirty-nine weeks ended SEP-28-1997
27.3 Restated Financial Data Schedule for the twenty-six weeks ended JUN-29-1997
27.4 Restated Financial Data Schedule for the thirteen weeks ended MAR-30-1997
27.5 Restated Financial Data Schedule for the fiscal year ended DEC-29-1996
27.6 Restated Financial Data Schedule for the thirty-nine weeks ended SEP-29-1996
27.7 Restated Financial Data Schedule for the twenty-six weeks ended JUN-30-1996
</TABLE>
- ----------
* Incorporated by reference to the exhibits with the corresponding
exhibit numbers in the Registration Statement on Form S-1 previously
filed by the Registrant (file no. 333-1490)
** Previously filed as part of the Registrant's initial Annual Report
on Form 10-K filed with the Commission on March 23, 1998.
4
<PAGE> 5
SIGNATURES
Pursuant to the requirements of Section 13 or 15(d) 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 on the 30th day of
April, 1998.
PLANET HOLLYWOOD INTERNATIONAL, INC.
By: /s/ SCOTT E. JOHNSON**
-------------------------------------
Robert I. Earl
President and Chief Executive Officer
By: /s/ THOMAS AVALLONE
-------------------------------------
Thomas Avallone
Executive Vice President,
Chief Financial Officer and
Chief Accounting Officer
Pursuant to the requirements of the Securities Exchange Act of 1934,
this report has been signed below by the following persons on behalf of the
registrant and in the capacities indicated on the 30th day of April, 1998.
/s/ SCOTT E. JOHNSON** /s/ SCOTT E. JOHNSON**
- -------------------------- ------------------------------
Keith Barish Robert I. Earl
Chairman of the Board of Directors President, Chief Executive Officer
and Director and Director
/s/ SCOTT E. JOHNSON** /s/ SCOTT E. JOHNSON**
- -------------------------- ------------------------------
Thomas Avallone Isadore Sharp
Executive Vice President, Chief Director
Financial Officer and Director
/s/ SCOTT E. JOHNSON** /s/ SCOTT E. JOHNSON**
- -------------------------- ------------------------------
Robert Krasnow Ong Beng Seng
Director Director
/s/ SCOTT E. JOHNSON** /s/ SCOTT E. JOHNSON**
- -------------------------- ------------------------------
Claudio Gonzalez Mark McCormack
Director Director
/s/ SCOTT E. JOHNSON**
- --------------------------
Michael L. Tarnopol
Director
** The undersigned, by signing his name hereto, does hereby sign this Amendment
No. 1 on behalf of the above indicated directors and officers of Planet
Hollywood International, Inc. pursuant to that power of attorney previously
filed with the Commission.
/s/ SCOTT E. JOHNSON
--------------------------
Scott E. Johnson
Attorney-in-Fact
<TABLE> <S> <C>
<ARTICLE> 5
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
FINANCIAL STATEMENTS OF PLANET HOLLYWOOD INTERNATIONAL, INC. FOR THE FISCAL YEAR
ENDED DECEMBER 28, 1997, AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH
FINANCIAL STATEMENTS.
</LEGEND>
<RESTATED>
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-28-1997
<PERIOD-START> DEC-30-1996
<PERIOD-END> DEC-28-1997
<CASH> 9,089
<SECURITIES> 0
<RECEIVABLES> 26,584
<ALLOWANCES> (1,500)
<INVENTORY> 42,612
<CURRENT-ASSETS> 101,010
<PP&E> 360,616
<DEPRECIATION> (37,667)
<TOTAL-ASSETS> 505,559
<CURRENT-LIABILITIES> 70,579
<BONDS> 70,491
0
0
<COMMON> 1,090
<OTHER-SE> 337,451
<TOTAL-LIABILITY-AND-EQUITY> 505,559
<SALES> 447,310
<TOTAL-REVENUES> 475,125
<CGS> 124,808
<TOTAL-COSTS> 470,140
<OTHER-EXPENSES> 0
<LOSS-PROVISION> 0
<INTEREST-EXPENSE> 0
<INCOME-PRETAX> 13,212
<INCOME-TAX> 4,954
<INCOME-CONTINUING> 8,258
<DISCONTINUED> 0
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> 8,258
<EPS-PRIMARY> 0.08<F1>
<EPS-DILUTED> 0.08<F1>
<FN>
<F1>RESTATED PURSUANT TO SEC REGULATION S-K, ITEM 601,
TO CONFORM TO SFAS NO. 128. "EPS-PRIMARY" DENOTES BASIC EPS.
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 5
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
FINANCIAL STATEMENTS OF PLANET HOLLYWOOD INTERNATIONAL, INC. FOR THE THIRTY-NINE
WEEKS ENDED SEPTEMBER 28, 1997, AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO
SUCH FINANCIAL STATEMENTS.
</LEGEND>
<RESTATED>
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> 9-MOS
<FISCAL-YEAR-END> DEC-28-1997
<PERIOD-START> DEC-30-1996
<PERIOD-END> SEP-28-1997
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<SECURITIES> 0
<RECEIVABLES> 39,764
<ALLOWANCES> 0
<INVENTORY> 36,002
<CURRENT-ASSETS> 122,763
<PP&E> 363,754
<DEPRECIATION> (35,838)
<TOTAL-ASSETS> 518,591
<CURRENT-LIABILITIES> 55,704
<BONDS> 0
0
0
<COMMON> 1,086
<OTHER-SE> 385,104
<TOTAL-LIABILITY-AND-EQUITY> 518,591
<SALES> 356,971
<TOTAL-REVENUES> 373,137
<CGS> 97,556
<TOTAL-COSTS> 297,581
<OTHER-EXPENSES> (6,300)
<LOSS-PROVISION> 0
<INTEREST-EXPENSE> (1,227)
<INCOME-PRETAX> 83,083
<INCOME-TAX> 31,016
<INCOME-CONTINUING> 52,067
<DISCONTINUED> 0
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> 52,067
<EPS-PRIMARY> 0.48<F1>
<EPS-DILUTED> 0.47<F1>
<FN>
<F1>RESTATED PURSUANT TO SEC REGULATION S-K, ITEM 601, TO CONFORM
TO SFAS NO. 128. "EPS-PRIMARY" DENOTES BASIC EPS.
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 5
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
FINANCIAL STATEMENTS OF PLANET HOLLYWOOD INTERNATIONAL, INC. FOR THE TWENTY-SIX
WEEKS ENDED JUNE 29, 1997, AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH
FINANCIAL STATEMENTS.
</LEGEND>
<RESTATED>
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-28-1997
<PERIOD-START> DEC-30-1996
<PERIOD-END> JUN-29-1997
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<RECEIVABLES> 28,891
<ALLOWANCES> 0
<INVENTORY> 22,392
<CURRENT-ASSETS> 113,761
<PP&E> 326,036
<DEPRECIATION> 31,621
<TOTAL-ASSETS> 463,462
<CURRENT-LIABILITIES> 41,718
<BONDS> 0
0
0
<COMMON> 1,086
<OTHER-SE> 358,025
<TOTAL-LIABILITY-AND-EQUITY> 463,462
<SALES> 216,583
<TOTAL-REVENUES> 223,539
<CGS> 58,578
<TOTAL-COSTS> 187,094
<OTHER-EXPENSES> (5,450)
<LOSS-PROVISION> 0
<INTEREST-EXPENSE> (1,021)
<INCOME-PRETAX> 42,916
<INCOME-TAX> 16,094
<INCOME-CONTINUING> 0
<DISCONTINUED> 0
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> 26,822
<EPS-PRIMARY> 0.25<F1>
<EPS-DILUTED> 0.25<F1>
<FN>
<F1>RESTATED PURSUANT TO SEC REGULATION S-K, ITEM 601, TO CONFORM TO
SFAS NO. 128. "EPS-PRIMARY" DENOTES BASIC EPS.
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 5
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
FINANCIAL STATEMENTS OF PLANET HOLLYWOOD INTERNATIONAL, INC. FOR THE THIRTEEN
WEEKS ENDED MARCH 30, 1997, AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO
SUCH FINANCIAL STATEMENTS.
</LEGEND>
<RESTATED>
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> 3-MOS
<FISCAL-YEAR-END> DEC-28-1997
<PERIOD-START> DEC-30-1996
<PERIOD-END> MAR-30-1997
<CASH> 24,895
<SECURITIES> 0
<RECEIVABLES> 27,199
<ALLOWANCES> 0
<INVENTORY> 21,029
<CURRENT-ASSETS> 94,861
<PP&E> 291,520
<DEPRECIATION> 27,460
<TOTAL-ASSETS> 406,010
<CURRENT-LIABILITIES> 41,538
<BONDS> 0
0
0
<COMMON> 1,075
<OTHER-SE> 321,952
<TOTAL-LIABILITY-AND-EQUITY> 406,010
<SALES> 98,580
<TOTAL-REVENUES> 101,647
<CGS> 26,685
<TOTAL-COSTS> 88,351
<OTHER-EXPENSES> (3,100)
<LOSS-PROVISION> 0
<INTEREST-EXPENSE> (462)
<INCOME-PRETAX> 16,858
<INCOME-TAX> 6,322
<INCOME-CONTINUING> 0
<DISCONTINUED> 0
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> 10,536
<EPS-PRIMARY> 0.10<F1>
<EPS-DILUTED> 0.10<F1>
<FN>
<F1>RESTATED PURSUANT TO SEC REGULATION S-K, ITEM 601,
TO CONFORM TO SFAS NO. 128. "EPS-PRIMARY" DENOTES BASIC EPS.
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 5
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
FINANCIAL STATEMENTS OF PLANET HOLLYWOOD INTERNATIONAL, INC. FOR THE FISCAL YEAR
ENDED DECEMBER 29, 1996, AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH
FINANCIAL STATEMENTS.
</LEGEND>
<RESTATED>
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-29-1996
<PERIOD-START> JAN-01-1996
<PERIOD-END> DEC-29-1996
<CASH> 49,831
<SECURITIES> 0
<RECEIVABLES> 22,697
<ALLOWANCES> 0
<INVENTORY> 20,604
<CURRENT-ASSETS> 113,873
<PP&E> 273,960
<DEPRECIATION> 23,852
<TOTAL-ASSETS> 401,260
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<BONDS> 0
0
0
<COMMON> 1,075
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<DISCONTINUED> 0
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<CHANGES> 0
<NET-INCOME> 37,659
<EPS-PRIMARY> 0.37<F1>
<EPS-DILUTED> 0.37<F1>
<FN>
<F1>RESTATED PURSUANT TO SEC REGULATION S-K, ITEM 601,
TO CONFORM TO SFAS NO. 128. "EPS-PRIMARY" DENOTES BASIC EPS.
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 5
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
FINANCIAL STATEMENTS OF PLANET HOLLYWOOD INTERNATIONAL, INC. FOR THE THIRTY-NINE
WEEKS ENDED SEPTEMBER 29, 1996, AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO
SUCH FINANCIAL STATEMENTS.
</LEGEND>
<RESTATED>
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> 9-MOS
<FISCAL-YEAR-END> DEC-29-1996
<PERIOD-START> JAN-01-1996
<PERIOD-END> SEP-29-1996
<CASH> 63,342
<SECURITIES> 0
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<INVENTORY> 15,431
<CURRENT-ASSETS> 115,879
<PP&E> 243,981
<DEPRECIATION> 21,577
<TOTAL-ASSETS> 375,893
<CURRENT-LIABILITIES> 45,271
<BONDS> 0
0
0
<COMMON> 1,057
<OTHER-SE> 295,401
<TOTAL-LIABILITY-AND-EQUITY> 375,893
<SALES> 260,060
<TOTAL-REVENUES> 274,231
<CGS> 70,318
<TOTAL-COSTS> 216,266
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<LOSS-PROVISION> 0
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<INCOME-TAX> 19,498
<INCOME-CONTINUING> 0
<DISCONTINUED> 0
<EXTRAORDINARY> 10,421
<CHANGES> 0
<NET-INCOME> 23,501
<EPS-PRIMARY> 0.24<F1>
<EPS-DILUTED> 0.23<F1>
<FN>
<F1>RESTATED PURSUANT TO SEC REGULATION S-K, ITEM 601,
TO CONFORM TO SFAS NO. 128. "EPS-PRIMARY" DENOTES BASIC EPS.
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 5
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
FINANCIAL STATEMENTS OF PLANET HOLLYWOOD INTERNATIONAL, INC. FOR THE TWENTY-SIX
WEEKS ENDED JUNE 30, 1996, AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO
SUCH FINANCIAL STATEMENTS.
</LEGEND>
<RESTATED>
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-29-1996
<PERIOD-START> JAN-01-1996
<PERIOD-END> JUN-30-1996
<CASH> 62,890
<SECURITIES> 0
<RECEIVABLES> 8,606
<ALLOWANCES> 0
<INVENTORY> 12,870
<CURRENT-ASSETS> 106,234
<PP&E> 222,022
<DEPRECIATION> 18,410
<TOTAL-ASSETS> 346,684
<CURRENT-LIABILITIES> 39,886
<BONDS> 0
0
0
<COMMON> 1,057
<OTHER-SE> 275,334
<TOTAL-LIABILITY-AND-EQUITY> 346,684
<SALES> 157,276
<TOTAL-REVENUES> 162,391
<CGS> 42,613
<TOTAL-COSTS> 134,242
<OTHER-EXPENSES> 1,036
<LOSS-PROVISION> 0
<INTEREST-EXPENSE> 4,291
<INCOME-PRETAX> 22,822
<INCOME-TAX> 8,330
<INCOME-CONTINUING> 0
<DISCONTINUED> 0
<EXTRAORDINARY> 10,421
<CHANGES> 0
<NET-INCOME> 4,071
<EPS-PRIMARY> 0.04<F1>
<EPS-DILUTED> 0.04<F1>
<FN>
<F1>RESTATED PURSUANT TO SEC REGULATION S-K, ITEM 601,
TO CONFORM TO SFAS NO. 128. "EPS-PRIMARY" DENOTES BASIC EPS.
</FN>
</TABLE>
