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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): March 10, 1999
Ralcorp Holdings, Inc.
(Exact name of registrant as specified in its charter)
Missouri 1-12619 43-1766315
(State or other (Commission (I.R.S. Employer
Jurisdiction of File Number) Identification No.)
Incorporation)
800 Market Street, Suite 2900
St. Louis, MO 63101
(Address of principal (Zip Code)
executive offices)
(314) 877-7000
(Registrant's telephone number, including area code)
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Item 5. Other Events.
In a press release dated March 10, 1999, a copy of which is attached hereto as
Exhibit 99.1 and the text of which is incorporated by reference herein, the
Registrant announced the calculation of equity earnings from its ownership
interest in Vail Resorts, Inc. The equity earnings announced will be reported
in the Registrant's second quarter ending March 31, 1999. For the Registrant's
second quarter it will record $4.1 million of non-cash, pre-tax earnings from
its equity investment in Vail.
Item 7. Financial Statements and Exhibits.
Exhibit 99.1 Press release dated March 10, 1999
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.
RALCORP HOLDINGS, INC.
(Registrant)
Date: March 11, 1999 By: /s/ T. G. Granneman
----------------------
Duly Authorized Signatory and
Chief Accounting Officer
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EXHIBIT INDEX
Exhibit
Number Description
- ------ -----------
Exhibit 99.1 Press release dated March 10, 1999
Immediate
Daniel P. Zoellner
314/877-7052
RALCORP HOLDINGS, INC. ANNOUNCES
EARNINGS FROM EQUITY INVESTMENT IN VAIL RESORTS, INC.
ST. LOUIS, MO, MARCH 10, 1999 With today's announcement by Vail Resorts, Inc. of
its six month and second fiscal quarter results ended January 31, 1999, Ralcorp
Holdings, Inc. is able to calculate the equity earnings that will be reflected
in its results for the six months and second fiscal quarter ending March 31,
1999. Ralcorp reports equity earnings from its Vail investment on a two-month
lag due to Vail Resorts' fiscal year ending on July 31st compared to a Ralcorp
fiscal year end of September 30th. Ralcorp holds 7.55 million shares of Vail
Resorts common stock, which equates to an approximate 21.9 percent equity
interest in Vail Resorts. In addition to the pure equity earnings calculation,
Ralcorp also includes amortization income of approximately $1.9 million,
annually. Such amortization income is a result of the January 1997 transaction
in which Ralcorp sold its ski resort holdings to Vail Resorts.
For its second fiscal quarter ending March 31, 1999, Ralcorp Holdings will
reflect $4.1 million of non-cash, pre-tax earnings from its equity investment in
Vail Resorts, Inc. In the comparable prior year quarter, Ralcorp recorded $6.2
million of equity earnings, or approximately $.12 in diluted earnings per share.
For the six months ended March 31, 1999, Ralcorp will reflect $.1 million of
non-cash, pre-tax equity earnings, compared to $4.2 million of equity earnings,
or approximately $.08 per diluted share for the six months ended March 31, 1998.
Ralcorp is a leading manufacturer of private label ready-to-eat and hot cereals,
crackers and cookies, and snack nuts. With its recently announced acquisition
of Martin Gillet & Co., Inc. (announced March 4, 1999), Ralcorp also holds a
leading position in the production of private label mayonnaise and shelf-stable
salad dressings.
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