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): September 16, 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 September 16, 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 its fiscal fourth quarter equity earnings from its
investment in Vail Resorts, Inc.
Item 7. Financial Statements and Exhibits.
Exhibit 99.1 Press Release dated September 16, 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: September 16, 1999 By: /s/ T. G. Granneman
----------------------
Duly Authorized Signatory and
Chief Accounting Officer
<PAGE>
EXHIBIT INDEX
Exhibit
Number Description
- ------ -----------
Exhibit 99.1 Press Release dated September 16, 1999
Immediate
Daniel P. Zoellner
314/877-7052
RALCORP HOLDINGS, INC. ANNOUNCES
EARNINGS FROM EQUITY INVESTMENT IN VAIL RESORTS, INC.
ST. LOUIS, MO, SEPTEMBER 16, 1999 With today's announcement by Vail Resorts,
Inc. of its full year and fourth fiscal quarter results ended July 31, 1999,
Ralcorp Holdings, Inc. was able to calculate the equity earnings that will be
reflected in its results for the year and fourth fiscal quarter ending September
30, 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 fourth fiscal quarter ending September 30, 1999, Ralcorp Holdings will
reflect a $2.5 million non-cash, pre-tax loss from its equity investment in Vail
Resorts, Inc. In the comparable prior year quarter, Ralcorp recorded a $3.3
million equity loss, or approximately $.06 in diluted loss per share. For the
year ended September 30, 1999, Ralcorp will reflect $4.7 million of non-cash,
pre-tax equity earnings, compared to $10.6 million, or approximately $.20 per
diluted share, for the year ended September 30, 1998.
The Company currently anticipates releasing its results for the fourth fiscal
quarter and full fiscal year ending September 30, 1999 on November 2, 1999.
Ralcorp Holdings, Inc. has established a leadership position in the world of
private label or store brand foods. Ralcorp produces a variety of store brand
foods that are sold under the individual labels of various grocery, mass
merchandise and drug store retailers. Ralcorp's diversified product mix includes
ready-to-eat and hot cereals, crackers and cookies, snack nuts, mayonnaise and
shelf-stable salad dressings. As noted above, Ralcorp holds a 21.9 percent
equity interest in Vail Resorts, Inc. (ticker: MTN), the premier mountain resort
operator in North America.
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