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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
-----------------------
FORM 8-K/A
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
MARCH 24, 1998
Date of Report (Date of earliest event reported)
THE COLEMAN COMPANY, INC.
(Exact name of Registrant as specified in its charter)
DELAWARE 1-988 13-3639257
(State of Incorporation (Commission File No.) (IRS Employer
Identification No.)
2111 E. 37TH STREET NORTH
WICHITA, KANSAS 67219
(Address of principal executive offices, including zip code)
(316) 832-2700
(Registrant's telephone number, including area code)
The Coleman Company, Inc. (the "Registrant") hereby amends its
Current Report on Form 8-K dated March 24, 1998, filed with the Securities
and Exchange Commission on April 3, 1998, to include the following pro
forma financial information regarding the sale of all of the outstanding
shares of capital stock of Coleman Safety & Security Products, Inc. by the
Registrant, as required by Item 7(b).
Item 7. Financial Statements, Pro Forma Financial Information and
Exhibits.
(b) Pro Forma Financial Information
The following pro forma financial statements are filed
as part of this report:
Pro Forma Balance Sheet as of December 31, 1997
(unaudited)
Pro Forma Statement of Operations for the year ended
December 31, 1997 (unaudited)
SIGNATURE
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 hereunto duly authorized.
THE COLEMAN COMPANY, INC.
By: /s/ David C. Fannin
____________________________
Name: David C. Fannin
Title: Executive Vice President,
General Counsel and
Secretary
Date: April 9, 1998
THE COLEMAN COMPANY, INC. AND SUBSIDIARIES
PRO FORMA BALANCE SHEET
AS OF DECEMBER 31, 1997
(In Thousands)
(unaudited)
<TABLE>
<CAPTION>
Pro Forma Adjustments
1997 --------------------- 1997
Reported $ Reference Pro Forma
-------- --- --------- ---------
<S> <C> <C> <C> <C>
ASSETS
Cash and cash equivalents $ 13,031 $ -- $ 13,031
Receivables, net 179,756 (16,335) (1) 163,421
Inventories 236,327 (17,624) (1) 218,703
Prepaid expenses and other current assets 62,582 (1,655) (1), (2) 60,927
---------- -------- --------
Total current assets 491,696 (35,614) 456,082
Property, plant and equipment, net 175,494 (10,746) (1) 164,748
Intangible assets related to businesses acquired, net 332,468 (37,874) (3) 294,594
Deferred tax assets and other 42,106 469 (2) 42,575
---------- -------- --------
$1,041,764 $(83,765) $957,999
========== ======== ========
LIABILITIES AND STOCKHOLDERS' EQUITY
Short-term debt and current portion of long-term debt $ 64,730 $ (80) (1) $ 64,650
Other current liabilities 188,467 (8,588) (1) 179,879
---------- -------- --------
Total current liabilities 253,197 (8,668) 244,529
Long-term debt 477,276 (89,037) (4) 388,239
Other liabilities 69,586 (422) (1) 69,164
Minority interest 1,236 -- 1,236
Stockholders' equity 240,469 14,362 (5) 254,831
---------- -------- --------
$1,041,764 $(83,765) $957,999
========== ======== ========
</TABLE>
(1) Coleman Safety & Security assets and liabilities sold.
(2) Write-off deferred tax assets related to assets and liabilities sold.
(3) Write-off of goodwill associated with Coleman Safety & Security.
(4) Apply net cash proceeds to pay down debt.
(5) After-tax gain from sale of Coleman Safety & Security.
THE COLEMAN COMPANY, INC. AND SUBSIDIARIES
PRO FORMA STATEMENT OF OPERATIONS
FOR THE YEAR ENDED DECEMBER 31, 1997
(In Thousands)
(unaudited)
<TABLE>
<CAPTION>
Pro Forma Adjustments
1997 --------------------- 1997
Reported $ Reference Pro Forma
-------- --- --------- ---------
<S> <C> <C> <C> <C>
Net revenues $1,154,294 $(88,413) (1) $1,065,881
Cost of sales 840,331 (59,886) (1) 780,445
---------- -------- ----------
Gross profit 313,963 (28,527) 285,436
Selling, general and administrative expenses 266,283 (19,608) (1) 246,675
Interest expense, net 40,852 (4,396) (2) 36,456
Amortization of goodwill and deferred charges 11,338 (992) (1) 10,346
Other expense, net 1,867 52 (1) 1,919
---------- -------- ----------
(Loss)/income before income taxes
and minority interest (6,377) (3,583) (9,960)
Income tax (benefit)/expense (5,227) (1,362) (3) (6,589)
Minority interest 1,386 -- 1,386
---------- -------- ----------
Net (loss)/earnings $ (2,536) $ (2,221) $ (4,757)
========== ======== ==========
Basic (loss)/earnings per share $(0.05) $(0.04) $(0.09)
Diluted (loss)/earnings per share $(0.05) $(0.04) $(0.09)
</TABLE>
(1) Adjustment to reflect removal of Coleman Safety & Security operating
results for 1997.
(2) Adjustment to reflect the pro forma effect of the application of
proceeds to reduce debt.
(3) Pro forma adjustment to income taxes based on the incremental tax
rate of 38%.
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