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Previous: SCHULT HOMES CORP, SC 13G, 1996-01-25 |
Next: INSURED MUNICIPALS INCOME TRUST SERIES 176, 485BPOS, 1996-01-25 |
<PAGE>
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): January 23, 1996
COCA-COLA ENTERPRISES INC.
(Exact name of registrant as specified in its charter)
Delaware 01-09300 58-0503352
(State of (Commission File No.) (IRS Employer
Incorporation) Identification No.)
2500 Windy Ridge Parkway, Atlanta, Georgia 30339
(Address of principal executive offices, including zip code)
(770) 989-3000
(Registrant's telephone number, including area code)
Page 1 of 7 pages
Exhibit Index page 4
PAGE
<PAGE>
Item 5. Other Events
- ------ ------------
Coca-Cola Enterprises Inc. (the "Company") files herewith its
Condensed Consolidated Statements of Operations, reporting the
Company's financial results for the fourth quarter and full-year
1995, including a summary of key financial information.
Item 7. Financial Statements and Exhibits
- ------ ---------------------------------
(c) Exhibits.
99 Condensed Consolidated Statements of Operations (unaudited)
of the Company, reporting financial results for the fourth
quarter and full-year 1995, including a summary
of key financial information.
PAGE
<PAGE>
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
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.
COCA-COLA ENTERPRISES INC.
(Registrant)
LOWRY F. KLINE
Date: January 23, 1996 By:------------------------------
Lowry F. Kline
General Counsel
PAGE
<PAGE>
COCA-COLA ENTERPRISES INC.
EXHIBIT INDEX
Exhibit No. Page
- ----------- ----
99 Condensed Consolidated Statements of Operations 5
(unaudited) of the Company, reporting financial
results for the fourth quarter and full-year
1995, including a summary of key financial
information.
PAGE
<PAGE>
<PAGE>
COCA-COLA ENTERPRISES INC Exhibit 99
Page 1 of 3
(Unaudited; In millions
except per share data)
Fourth Quarter
----------------------------
Percent
1995 (a) 1994 Change
------- ------- -------
Net Operating Revenues $ 1,643 $ 1,486 11%
Cost of Sales 1,030 923 12%
------- -------
Gross Profit 613 563 9%
Selling, General & Administrative Expenses (b) 533 468 14%
------- -------
Operating Income 80 95 (16)%
Interest Expense - Net 82 77 6%
Other Nonoperating Deductions - Net 3 1
------- -------
Income (Loss) Before Income Taxes (5) 17 (129)%
Income Tax Expense (Benefit) (2) 6
------- -------
Net Income (Loss) (3) 11 (127)%
Preferred Stock Dividend Requirements - -
------- -------
Net Income (Loss) Applicable to
Common Share Owners $ (3) $ 11 (127)%
======= =======
Average Common Shares Outstanding 129 130
======= =======
Net Income (Loss) Per Common Share (c) $ (0.03) $ 0.09 (133)%
======= =======
Cash Operating Profit Data:
Operating Income $ 80 $ 95 (16)%
Depreciation 83 73 14%
Amortization 71 45 58%
------- -------
Cash Operating Profit $ 234 $ 213 10%
======= =======
(a) Fourth-quarter 1995 performance includes the results of the
Wichita Coca-Cola Bottling Company.
(b) Selling, general and administrative expenses includes an additional
$25 million ($0.12 per common share after tax) of noncash expenses related
to acceleration of estimated vesting periods for executive stock
compensation plans tied to performance of the Company's common stock.
(c) Per share data calculated prior to rounding to millions.
PAGE
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COCA-COLA ENTERPRISES INC. Exhibit 99
Page 2 of 3
(Unaudited; In millions
except per share data)
Year-ended
----------------------------
Percent
1995 (a) 1994 Change
------- ------- -------
Net Operating Revenues $ 6,773 $ 6,011 13%
Cost of Sales 4,267 3,703 15%
------- -------
Gross Profit 2,506 2,308 9%
Selling, General & Administrative Expenses (b) 2,038 1,868 9%
------- -------
Operating Income 468 440 6%
Interest Expense - Net 326 310 5%
Other Nonoperating Deductions - Net 6 3
Gain From Sale of Bottling Operations (c) 9 -
------- -------
Income Before Income Taxes 145 127 14%
Income Tax Expense 63 58 9%
------- -------
Net Income 82 69 19%
Preferred Stock Dividend Requirements 2 2
------- -------
Net Income Applicable to Common Share Owners $ 80 $ 67 19%
======= =======
Average Common Shares Outstanding 129 130
======= =======
Net Income Per Common Share (d) $ 0.62 $ 0.52 19%
======= =======
Cash Operating Profit Data:
Operating Income $ 468 $ 440 6%
Depreciation 318 282 13%
Amortization 211 179 18%
------- -------
Cash Operating Profit $ 997 $ 901 11%
======= =======
(a) Full-year 1995 performance includes the results of the Wichita
Coca-Cola Bottling Company from January 1, 1995.
(b) Fourth-quarter 1995 selling, general and administrative expenses includes
an additional $25 million ($0.12 per common share after tax) of noncash
expenses related to acceleration of estimated vesting periods for
executive stock compensation plans tied to performance of the
Company's common stock.
(c) Gain on the sale of the Company's 50 percent ownership interest in
The Coca-Cola Bottling Company of the Mid South in the first quarter
of 1995 ($0.04 per common share after tax).
(d) Per share data calculated prior to rounding to millions.
PAGE
<PAGE>
COCA-COLA ENTERPRISES INC. Exhibit 99
Summary - Key Information Page 3 of 3
(Unaudited)
Fourth-Quarter Percent
1995 Change
------------------------------------ ---------
Cash Operating Profit
Reported 10%
Comparable* 9%
Volume
Bottle/Can
Reported 7 1/2%
Constant Territory 6%
Fountain
Reported 12 1/2%
Constant Territory 9%
Net Revenues Per Case - Bottle/Can 6 1/2%
Cost of Sales Per Case - Bottle/Can 10%
Full-Year Percent
1995 Change
------------------------------------ ---------
Cash Operating Profit
Reported 11%
Comparable* 9%
Volume
Bottle / Can
Reported 6%
Constant Territory 4 1/2%
Fountain
Reported 11 1/2%
Constant Territory 8%
Net Revenues Per Case - Bottle/Can 7%
Cost of Sales Per Case - Bottle/Can 10%
* Comparable change reflects adjustments for certain acquisitions,
as considered appropriate, to identify underlying business trends.
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