TRIARC COMPANIES INC
NT 10-Q, 1999-08-19
BEVERAGES
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                                   UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                   FORM 12B-25

                                                  Commission File Number 1-2207

                        NOTIFICATION OF LATE FILING


(Check One):      [ ] Form 10-K  [ ] Form 20-F  [ ] Form 11-K [X] Form 10-Q
                  [ ] Form N-SAR
                  For Period Ended: July 4, 1999
                                    ------------
                  [ ] Transition  Report on Form 10-K
                  [ ] Transition  Report on Form 20-F
                  [ ] Transition  Report on Form 11-K
                  [ ]  Transition Report on Form 10-Q
                  [ ] Transition Report on Form N-SAR
                  For the Transition Period Ended: __________________________

If the notification  relates to a portion of the filing checked above,  identify
the item(s) to which the notification relates:
- ------------------------------------------------------------------------------
PART 1--REGISTRANT INFORMATION

TRIARC COMPANIES, INC.
- --------------------------
(Full Name of Registrant)


- ------------------------------
(Former Name if Applicable)

280 Park Avenue
- ----------------------------------------------------------
(Address of Principal Executive Office (Street and Number))

New York, New York 10017
- --------------------------
(City, State and Zip Code)

PART II--RULES 12B-25(B) AND (C)
If the subject report could not be filed without  unreasonable effort or expense
and the registrant seeks relief pursuant to Rule 12b-25(b), the following should
be completed. (Check box if appropriate)

           | (a) The reasons  described in reasonable detail in Part III of this
           | form  could  not  be eliminated  without  unreasonable  effort  or
           | expense;
           | (b)  The  subject  annual  report,  semi-annual  report,
           | transition  report on Form 10-K, Form 20-F,  11-K,  Form N-SAR,  or
[X]        | portion thereof, will be filed on or before the fifteenth  calendar
           | day following the  prescribed  due date; or the subject  quarterly
           | report or  transition  report on Form 10-Q,  or portion  thereof
           | will be filed on or | before the fifth  calendar day following  the
           | prescribed  due  date;  and
           | (c)  The  accountant's statement  or other  exhibit  required by
           | Rule  12b-25(c)  has been attached if applicable.


<PAGE>



PART III--NARRATIVE
State below in reasonable detail the reasons why the Form 10-K, 11-K, 10-Q,
N-SAR, or the transition report or portion thereof, could not be filed within
the prescribed time period. (Attach Extra Sheets if Needed)

         Triarc   Companies,   Inc.  (the  "Company")  could  not  complete  the
         electronic  filing of its Quarterly  Report on Form 10-Q for the fiscal
         quarter ended July 4, 1999 (the "Form 10- Q") by the prescribed  filing
         date of August 18,  1999  without  unreasonable  effort or expense as a
         result of the following:

         On  July  19,  1999  the   Company   sold  (the   "Partnership   Sale")
         substantially all of its interests in National Propane  Partners,  L.P.
         (The "Propane Partnership") and a subpartnership National Propane, L.P.
         (The "Operating  Partnership") to Columbia Propane, L.P.  ("Columbia").
         Prior to the  Partnership  Sale,  the  Company  owned a 42.7%  combined
         interest in the Propane Partnership and the Operating Partnership.  The
         Company  expects that the  Partnership  Sale will result in a gain, the
         amount of which  has not yet been  determined.  Under  the  Partnership
         Sale,  the Company  retained a 1% limited  partnership  interest in the
         Operating  Partnership,  which  continues  to  exist  as  a  subsidiary
         partnership of Columbia, and National Propane Corporation, a subsidiary
         of   the   Company,   provided   an   indemnification   (the   "Propane
         Indemnification")  of the purchaser for any payments the purchaser must
         make, after recourse to the Operating  Partnership's assets, related to
         the   purchaser's   obligations   under   certain   of  the   Operating
         Partnership's debt, aggregating  approximately  $138,000,000 as of July
         19, 1999, if the Operating  Partnership is unable to repay or refinance
         such debt. The required  accounting related to the Partnership Sale was
         not resolved until just prior to the  prescribed  filing date of August
         18,  1999.  Such  accounting  requires  that the  Company's  historical
         financial  statements be restated to present the Company's interests in
         the Propane  Partnership and the Operating  Partnership as discontinued
         operations.  Such required  restatements and the resulting revisions to
         the disclosures throughout the Form 10-Q could not be finalized in time
         to file the Form 10-Q by the prescribed filing date.


PART IV--OTHER INFORMATION

(1)Name and telephone number of person to contact in regard to this notification
    Fred Schaefer                 (212)                      451-3000
    -------------               -----------             ------------------
       (Name)                   (Area Code)             (Telephone Number)

(2) Have all other  periodic  reports  required under Section 13 or 15(d) of the
Securities  Exchange Act of 1934 or Section 30 of the Investment  Company Act of
1940  during  the  preceding  12  months  or for such  shorter  period  that the
registrant was required to file such report(s) been filed?
If answer is no, identify report(s).   [X] Yes    [  ] No

(3) Is it anticipated that any significant  change in results of operations from
the  corresponding  period for the last  fiscal  year will be  reflected  by the
earnings statement to be included in the subject report or portion thereof?
[X] Yes [ ] No

If so, attach an explanation of the  anticipated  change,  both  narratively and
quantitatively, and, if appropriate, state the reasons why a reasonable estimate
of the results cannot be made.

See Annex A hereto.


<PAGE>






                              TRIARC COMPANIES, INC.
                   ------------------------------------------
                  (Name of Registrant as Specified in Charter)

has caused this notification to be signed on its behalf by the undersigned
hereunto duly authorized.

Date: August 19, 1999              By:/s/ Fred H. Schaefer
                                   ------------------------
                                   Fred H. Schaefer
                                   Vice President and Chief Accounting Officer



<PAGE>


                                                                        Annex A


     For the  reasons  stated in Part III to this  Form  12b-25,  the  condensed
consolidated  financial statements of the Company for the quarterly period ended
July 4, 1999 have not been completed. The Company, however, expects to report in
its Form 10-Q,  with respect to the six months  ended July 4, 1999,  revenues of
$429.0 million,  operating  profit of $34.7 million and net loss of $9.1 million
compared with revenues of $404.9 million,  operating profit of $32.7 million and
net income of $12.3 million for the six months ended June 28, 1998. With respect
to the three months ended July 4, 1999, the Company  expects to report  revenues
of $250.8  million,  operating  profit of $25.6  million  and net income of $4.2
million  compared with  revenues of $232.9  million,  operating  profit of $22.8
million and net income of $8.1 million for the three months ended June 28, 1998.
The increase in revenues in the 1999 periods  compared  with the 1998 periods is
due to higher revenues of the Company's premium beverage segment reflecting both
higher  volume and higher  average  selling  prices.  The  increase in operating
profit in the 1999 periods is due to higher gross profit reflecting the increase
in revenues noted above and higher gross margin percentages, partially offset by
higher   operating  costs  and  expenses  in  the  1999  periods,   including  a
non-recurring capital structure  reorganization  related charge. The change to a
net loss for the  six-month  period  ended  July 4, 1999 from net income for the
six-month period ended June 28, 1998, despite the previously  discussed increase
in  operating  profit,   resulted  from  the  after-tax  effect  of  higher  net
non-operating expenses,  particularly interest expense, a loss from discontinued
operations in the 1999 period compared with income from discontinued  operations
in the 1998 period and an extraordinary charge in the 1999 period related to the
early  extinguishment  of debt.  The decrease in net income for the  three-month
period ended July 4, 1999  compared with the  three-month  period ended June 28,
1998,  despite the previously  discussed increase in operating profit, is due to
the after-tax effect of higher net non-operating expenses, particularly interest
expense, and a higher effective income tax rate in the 1999 quarter.



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