UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-Q/A
AMENDMENT NO.1
(Mark One)
[X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
ACT OF 1934
FOR THE QUARTERLY PERIOD ENDED SEPTEMBER 24, 2000
OR
[ ] 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)
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 [ ]
As of October 31, 2000 there were 3,000,001 shares of the registrant's
Class A voting Common Stock outstanding and 7,000,023 shares of the registrant's
Class B voting Common Stock outstanding.
<PAGE>
EXPLANATORY NOTE
This form 10-Q/A amends the Form 10-Q filed by Planet Hollywood International,
Inc. on November 8, 2000 to correct the weighted average common shares
outstanding utilized in the presentation of earnings (loss) per share disclosed
in the Company's condensed consolidated statement of operations. In the
Company's earlier filing, earnings (loss) per share for the thirty-nine week
period ended September 24, 2000 was calculated using weighted average shares
outstanding of 103,813. The corrected weighted average shares outstanding for
the thirty-nine week period ended September 24, 2000 is 57,674 shares.
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<PAGE>
PLANET HOLLYWOOD INTERNATIONAL INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)
STATED IN THOUSANDS OF U.S. DOLLARS, EXCEPT PER SHARE AMOUNTS
<TABLE>
<CAPTION>
THIRTEEN WEEKS ENDED THIRTY-NINE WEEKS ENDED
--------------------------- ----------------------------
SEPTEMBER 24, SEPTEMBER 26, SEPTEMBER 24, SEPTEMBER 26,
2000 1999 2000 1999
------------ ------------ ------------ ------------
<S> <C> <C> <C> <C>
Revenue .................................... $ 47,659 $ 80,441 $ 136,578 $ 232,116
Cost and expenses:
Cost of sales .......................... 13,624 22,634 37,268 63,595
Operating expenses ..................... 35,902 56,731 105,934 169,799
General and administrative expenses .... 6,237 9,315 17,458 33,490
Preopening costs ....................... -- 1,320 -- 1,623
Depreciation and amortization .......... 2,578 5,528 8,741 15,511
Restructuring and reorganization charges -- 1,028 8,396 4,528
Impairment of long lived assets ........ -- 75,199 24,165 79,797
--------- --------- --------- ---------
58,341 171,755 201,962 368,343
Loss from operations ....................... (10,682) (91,314) (65,384) (136,227)
Non-operating expense (income):
Interest expense ....................... 1,848 8,245 3,476 25,499
Interest income ........................ (286) (207) (780) (981)
Equity in Loss of unconsolidated
affiliates .......................... 560 1,093 723 2,248
Net gain on sale of assets ............. (816) (3,672) (816) (3,672)
Minority interest and other ............ (10) (745) (3,794) (405)
--------- --------- --------- ---------
Loss before extraordinary item ............. (11,978) (96,028) (64,193) (158,916)
Extraordinary gain on debt forgiveness ..... -- -- (172,776) --
--------- --------- --------- ---------
Net Income (loss) .......................... $ (11,978) $ (96,028) $ 108,583 $(158,916)
========= ========= ========= =========
Income (loss) per share:
BASIC AND DILUTED
Loss before extraordinary item ......... $ (1.20) $ (0.88) $ (1.11) $ (1.46)
Extraordinary gain on debt forgiveness . -- -- 3.00 --
========= ========= ========= =========
Net Income (loss) .......................... $ (1.20) $ (0.88) $ 1.88 $ (1.46)
========= ========= ========= =========
BASIC AND DILUTED
Weighted Average Shares ................ 10,000 109,091 57,674 109,091
========= ========= ========= =========
</TABLE>
The accompanying notes are an integral part of these condensed consolidated
financial statements.
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<PAGE>
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, thereunto duly authorized.
PLANET HOLLYWOOD INTERNATIONAL, INC.
DATE: December 20, 2000 By: /s/ CHRISTOPHER R. THOMAS
-----------------------------------
Name: Christopher R. Thomas
Its: President, Chief Financial Officer
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