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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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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 17, 1998
Rock-Tenn Company
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(Exact name of registrant as specified in its charter)
Georgia 0-23340 62-0342590
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(State of incorporation) (Commission File Number) (IRS Employer
Identification No.)
504 Thrasher Street
Norcross, Georgia 30071
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (770) 448-2193
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(Former name or former address, if changed since last report)
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ITEM 5. OTHER EVENTS
In 1997, the Financial Accounting Standards Board issued Statement of
Financial Accounting Standards (SFAS) No. 128, "Earnings Per Share." SFAS No.
128 replaced the previously reported primary and fully diluted earnings per
share with basic and diluted earnings per share. Unlike primary earnings per
share, basic earnings per share excludes the potential dilutive effects of
common stock equivalents such as stock options, warrants and convertible
securities. Diluted earnings per share is very similar to the previously
reported fully diluted earnings per share. Rock-Tenn Company (the "Company")
adopted SFAS No. 128 effective October 1, 1997.
The Company has restated certain of its Selected Financial Data to
reflect the effect of SFAS No. 128 as follows:
(i) As a result of the filing of this Current Report on Form 8-K,
the information set forth below shall supersede the line item entitled
"Earnings per common share" in the table entitled "Five Year Selected
Financial and Operating Highlights" appearing on page 17 of the Company's
1997 Annual Report to Shareholders and incorporated by reference into the
Company's Annual Report on Form 10-K for the fiscal year ended September
30, 1997:
<TABLE>
<CAPTION>
1997 1996 1995 1994 1993
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<S> <C> <C> <C> <C> <C>
Basic earnings per share....................... $0.48 $1.54 $1.24 $1.14 $0.80
Diluted earnings per share..................... $0.47 $1.50 $1.21 $1.10 $0.77
</TABLE>
(ii) As a result of the filing of this Current Report on Form 8-K,
the information set forth below shall supersede the line item entitled
"Earnings (loss) per common and common equivalent share" for fiscal 1996
and 1997 in Note 11 "Financial Results by Quarter (Unaudited)" to the
Company's consolidated financial statements on page 46 of the Company's
1997 Annual Report to Shareholders and incorporated by reference into the
Company's Annual Report on Form 10-K for the fiscal year ended September
30, 1997:
<TABLE>
<CAPTION>
First Second Third Fourth
1997 Quarter Quarter Quarter Quarter
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<S> <C> <C> <C> <C>
Basic earnings per share....................... $0.22 $(0.22) $0.19 $0.28
Diluted earnings per share..................... $0.22 $(0.22) $0.18 $0.28
</TABLE>
<TABLE>
<CAPTION>
First Second Third Fourth
1996 Quarter Quarter Quarter Quarter
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<S> <C> <C> <C> <C>
Basic earnings per share....................... $0.36 $0.37 $0.41 $0.41
Diluted earnings per share..................... $0.35 $0.36 $0.40 $0.40
</TABLE>
(iii) Exhibit 11 hereto supersedes Exhibit 11 to the Company's
Annual Report on Form 10-K for the fiscal year ended September 30, 1997.
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ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
(c) Exhibits
11 Earnings Per Share Calculations Under SFAS 128 for the years
ended September 30, 1997, 1996 and 1995.
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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 hereunto duly authorized.
Date: March 17, 1998 ROCK-TENN COMPANY
By: /s/ David C. Nicholson
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David C. Nicholson
Senior Vice President, Chief
Financial Officer, Secretary
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INDEX TO EXHIBITS
<TABLE>
<CAPTION>
EXHIBIT NUMBER AND DESCRIPTION PAGE
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<S> <C> <C>
11 Earnings Per Share Calculations Under SFAS 128 for the years ended
September 30, 1997, 1996 and 1995..........................................
</TABLE>
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EXHIBIT 11
ROCK-TENN COMPANY
EARNINGS PER SHARE CALCULATIONS UNDER SFAS 128
FOR THE YEARS ENDED SEPTEMBER 30, 1997, 1996 AND 1995
(IN THOUSANDS, EXCEPT PER SHARE DATA)
<TABLE>
<CAPTION>
FOR THE YEAR ENDED SEPTEMBER 30,
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1997 1996 1995
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<S> <C> <C> <C>
Numerator:
Net income...................................... $16,101 $51,125 $41,432
Denominator:
Denominator for basic earnings per share -
weighted average shares.......................... 33,514 33,201 33,281
Effect of dilutive stock options................... 829 813 885
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Denominator for diluted earnings per share -
weighted average shares and assumed conversions.. 34,343 34,014 34,166
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Basic earnings per share........................... $ 0.48 $ 1.54 $ 1.24
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Diluted earnings per share......................... $ 0.47 $ 1.50 $ 1.21
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</TABLE>
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