UNITED STATES
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
January 13, 1999 (January 12, 1999)
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Date of Report (Date of earliest event reported)
FORTUNE BRANDS, INC.
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(Exact name of registrant as specified in its charter)
Delaware 1-9076 13-3295276
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(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
l700 East Putnam Avenue, Old Greenwich, Connecticut 06870-0811
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (203) 698-5000
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INFORMATION TO BE INCLUDED IN THE REPORT
Item 5. Other Events.
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Registrant's press release dated January 12, 1999 is filed
herewith as Exhibit 20 and is incorporated herein by reference.
Item 7. Financial Statements and Exhibits.
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(c) Exhibits.
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20. Press release of Registrant dated January 12, 1999.
SIGNATURE
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Pursuant to the requirements of the Securities Exchange Act of 1934,
as amended, the Registrant has duly caused this Current Report to be signed on
its behalf by the undersigned thereunto duly authorized.
FORTUNE BRANDS, INC.
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(Registrant)
By /s/Mark A. Roche
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Mark A. Roche
Vice President and
General Counsel
Date: January 13, 1999
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EXHIBIT INDEX
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Exhibit Numbered Page
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20. Press release of Registrant dated
January 12, 1999.
Exhibit 20
NEWS RELEASE
NEWS RELEASE
Fortune Brands, Inc., 1700 East Putnam Avenue, Old Greenwich, CT 06870
NEWS RELEASE
Contact:
Media Relations: Investor Relations
Clarkson Hine Anthony J. Diaz
(203) 698-5148 (203) 698-5553
FORTUNE BRANDS EXPECTS DOUBLE-DIGIT E.P.S. GROWTH IN 1999;
PROJECTS HITTING TARGET WITH 13% INCREASE FOR 1998
Old Greenwich, CT, January 12, 1999 -- Fortune Brands, Inc. (NYSE-FO), the
consumer products company, announced this morning that it anticipates
double-digit E.P.S. growth in 1999, following a projected 13% increase for 1998
(compared with 1997's pro forma).
Speaking at a Goldman Sachs Consumer Products and Services Conference at
Turnberry Isle, Florida, Fortune Brands Chairman and Chief Executive Officer
Thomas C. Hays said: "Based on preliminary data for 1998, we're right on track.
In a year that was marked by widespread earnings disappointments at many
companies, we expect to come in right on the target we announced a year ago and
right on street consensus. Next week, we expect to report strong E.P.S. growth,
including a double-digit fourth quarter, 13% E.P.S. growth for full year 1998,
and record 1998 operating company contribution from every category.
"The excellent results reflect the strength and breadth of our brands along with
the success of our revenue growth, cost and asset management initiatives. For
the 1998 fourth quarter, we're projecting that a very strong performance by home
products along with another solid gain in spirits and wine will offset the
impact in office products of widespread trade inventory reduction programs as
well as pricing pressure related to mid-1998 trade consolidations. Even so, we
expect to report a solid, mid-single-digit office products contribution increase
for full-year 1998. While these trade conditions are likely to create
challenging comparisons for office products into the first half of 1999,
sell-through of our office products is quite positive, and the superstores
continue to announce expansion plans. So we believe the disruption is temporary,
and we expect full year 1999 contribution growth for office products to exceed
the 1998 pace.
"Overall, we expect another fine, double-digit E.P.S. growth year in 1999," Hays
added. "We believe the consensus outlook for 10-to-11% growth is realistic."
Fortune Brands expects to release 1998 results on Friday, January 22, 1999.
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(more)
www.fortunebrands.com
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Fortune Brands Expects Double-Digit E.P.S. Growth in 1999
Page 2
Fortune Brands, Inc. is a consumer products company with headquarters in Old
Greenwich, Connecticut. Its operating companies have premier brands and leading
market positions in home and office products, golf equipment and distilled
spirits. Home and office brands include Moen faucets, Master locks and
Aristokraft and Schrock cabinets sold by units of MasterBrand Industries and
Day-Timer, Swingline and Wilson Jones sold by units of ACCO World Corporation.
Acushnet Company's golf brands include Titleist, Cobra and FootJoy. Major spirit
and wine brands sold by units of Jim Beam Brands Worldwide, Inc. include Jim
Beam and Knob Creek Bourbon, DeKuyper cordials, Whyte & Mackay Scotch and Geyser
Peak and Canyon Road wines.
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This press release contains statements relating to future results, which are
forward-looking statements as that term is defined in the Private Securities
Litigation Reform Act of 1995. Readers are cautioned that these forward-looking
statements speak only as of the date hereof. Actual results may differ
materially from those projected as a result of certain risks and uncertainties,
including but not limited to changes in general economic conditions, foreign
exchange rate fluctuations, competitive product and pricing pressures, the
impact of excise tax increases with respect to distilled spirits, regulatory
developments, the uncertainties of litigation, changes in golf equipment
regulatory standards, the impact of weather, particularly on the home products
and golf brand groups, expenses and disruptions related to shifts in
manufacturing to different locations and sources, delays in the integration of
recent acquisitions, the timely resolution of the Year 2000 issue, as well as
other risks and uncertainties detailed from time to time in the Company's
Securities and Exchange Commission filings.
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