UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-Q/A
AMENDMENT NO. 2
(Mark One)
[X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934
FOR THE QUARTERLY PERIOD ENDED JUNE 25, 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 July 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.
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EXPLANATORY NOTE
This form 10-Q/A amends the Form 10-Q filed by Planet Hollywood International,
Inc. on August 14, 2000 and form 10-Q/A filed on September 20, 2000 to correct
the presentation of earnings (loss) per share. In the Company's earlier filing,
earnings (loss) per share was calculated using the weighted average shares
outstanding reflecting the new Class A and Class B shares issued in connection
with the Company's plan of reorganization assuming they were outstanding as of
December 27, 1999. The amended presentation of earnings (loss) per share now
reflects the new Class A and Class B shares outstanding as of the May 9, 2000
effective date of the Company's plan of reorganization. The per share
information for the thirteen weeks and the twenty-six weeks ended June 27, 1999
is also now included in the earnings (loss) per share presentation.
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<PAGE>
PLANET HOLLYWOOD INTERNATIONAL INC. AND SUBSIDIAIRES
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)
STATED IN THOUSANDS OF U.S. DOLLARS, EXCEPT PER SHARE AMOUNTS
<TABLE>
<CAPTION>
THIRTEEN WEEKS ENDED TWENTY-SIX WEEKS ENDED
----------------------- ------------------------
JUNE 25, JUNE 27, JUNE 25, JUNE 27,
2000 1999 2000 1999
--------- --------- --------- ---------
<S> <C> <C> <C> <C>
Revenues .................................... $ 45,418 $ 76,647 $ 88,919 $ 151,675
Cost and expenses:
Cost of sales ........................... 12,351 20,728 23,644 40,961
Operating expenses ...................... 35,104 57,259 70,032 113,068
General and administrative expenses ..... 4,987 12,380 11,221 24,175
Depreciation and amortization ........... 3,268 4,891 6,163 9,983
Restructuring and reorganization
charges ............................ 7,726 303 8,396 3,803
Impairment of long-lived assets ......... 24,165 -- 24,165 4,598
--------- --------- --------- ---------
87,601 95,561 143,621 196,588
Loss from operations ........................ (42,183) (18,914) (54,702) (44,913)
Non-operating expense (income):
Interest expense ........................ 1,231 9,136 1,628 17,254
Interest income ......................... (494) (282) (494) (774)
Equity in (income) loss of unconsolidated
affiliates ........................... (737) 58 163 1,155
Minority interest and other ............. (3,289) 340 (3,784) 340
--------- --------- --------- ---------
Loss before extraordinary item .............. (38,894) (28,166) (52,215) (62,888)
Extraordinary gain on debt forgiveness ...... (172,776) -- (172,776) --
--------- --------- --------- ---------
Net Income (loss) ........................... $ 133,882 $ (28,166) $ 120,561 $ (62,888)
========= ========= ========= =========
Income (loss) per share:
BASIC AND DILUTED
Loss before extraordinary item .............. $ (0.72) $ (0.26) $ (0.64) $ (0.58)
--------- --------- --------- ---------
Extraordinary gain on debt forgiveness ...... 3.20 -- 2.12 --
--------- --------- --------- ---------
Net Income (loss) ........................... $ 2.48 $ (0.26) $ 1.48 $ (0.58)
========= ========= ========= =========
BASIC AND DILUTED Weighted
Average Shares .......................... 53,930 109,091 81,511 109,091
========= ========= ========= =========
</TABLE>
The accompanying notes are an integral part of these condensed consolidated
financial statements.
3
<PAGE>
PLANET HOLLYWOOD INTERENATIONAL, INC. AND SUBSIDIARIES
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
(Dollars in Thousands Except Per Share Amounts)
(Unaudited)
6. EARNINGS (LOSS) PER SHARE
Basic earnings per share is computed by dividing income available to
common stockholders by the weighted average number of common shares outstanding
for the reporting period. Diluted earnings per share reflects the potential
dilution that could occur if securities or other contracts to issue common stock
were exercised or converted into common stock.
Options to purchase 1,000,000 shares of common stock and warrants to
purchase 400,000 shares of common stock were not included in the computation of
diluted earnings per common share in the thirteen and twenty-six weeks ended
June 25, 2000 since the effect would be antidilutive.
4
<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
