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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 October 5, 1999 (September 29, 1999)
event reported):
FLOWERS INDUSTRIES, INC.
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Georgia 1-9787 58-0244940
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(State or Other (Commission (I.R.S. Employer
Jurisdiction of File Number) Identification No.)
Incorporation)
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1919 Flowers Circle, P.O. Box 1338, Thomasville, GA 31799
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (912) 226-9110
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ITEM 5. OTHER EVENTS.
Enclosed is a copy of the press release dated September 29, 1999,
related to the Registrant's expectations regarding operating results for the
third quarter ending October 9, 1999.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.
(a) Financial Statements of Businesses Acquired: None.
(b) Pro Forma Financial Information: None
(c) Exhibits:
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Exhibit No. Exhibit
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99 Press Release, dated September 29, 1999
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, as
amended, the Registrant has duly caused this report to be signed on its behalf
by the undersigned hereunto duly authorized.
FLOWERS INDUSTRIES, INC.
By: /s/ Jimmy Woodward
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Jimmy Woodward
Chief Administrative Officer
Date: October 5, 1999
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INDEX TO EXHIBITS
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EXHIBIT
NUMBER EXHIBIT
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99 PRESS RELEASE DATED SEPTEMBER 29, 1999.
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EXHIBIT 99
CONTACT: MARTA JONES TURNER
VICE PRESIDENT OF PUBLIC AFFAIRS
(912) 227-2348
FLOWERS INDUSTRIES LOWERS THIRD QUARTER EARNINGS EXPECTATIONS
THOMASVILLE, GA; September 29, 1999--Flowers Industries, Inc. (NYSE: FLO)
announced today that operating results for its third quarter ending October 9,
1999 are expected to fall short of analysts' expectations. This is due to
continued costs incurred with the production realignment project at the
company's Mrs. Smith's Bakeries business unit and the resulting loss of sales
due to product shortages. Flowers Bakeries and Keebler Foods Company (NYSE:
KBL), Flowers Industries' other two business units, continue to perform well.
Flowers Industries expects Mrs. Smith's Bakeries' third quarter loss to
approximate the loss reported for the second quarter. Mrs. Smith's Bakeries'
anticipated third quarter loss indicates that its frozen dessert facilities are
not yet achieving the production levels necessary to fulfill sales demand.
During the quarter, damage from Hurricane Floyd required Mrs. Smith's to close
its Pembroke, N.C., bakery for two days. The company also had to shut down new
production lines twice at its Stilwell, Okla., bakery to modify equipment. As a
result, production performance at Stilwell has improved, but the lines are still
not operating as efficiently as planned.
"Mrs. Smith's Bakeries' seasonally heavy demand during the third and fourth
quarters, together with the production delays due to its realignment project,
make us unable to predict the bottom-line performance at Mrs. Smith's for the
short term," noted Amos R. McMullian, Flowers Industries' chairman of the board
and CEO. "When third quarter earnings are released on November 4, 1999, we will
have a clearer picture of Mrs. Smith's operational performance for the remainder
of the year. We expect Mrs. Smith's production problems to be corrected as we
move into next year."
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Flowers Industries, Inc. is a national branded baked foods company operating
three business units--Keebler Foods (NYSE: KBL), Mrs. Smith's Bakeries, and
Flowers Bakeries. In fiscal 1998, aggregate sales for the company were $3.8
billion. The company's products are sold under such well-known brands as
Keebler, Cheez-It, Famous Amos, Mrs. Smith's, Pet-Ritz, Nature's Own, and
Cobblestone Mill.
Statements contained in this press release that are not historical facts are
forward-looking statements as that term is defined in the Private Securities
Litigation Reform Act of 1995. All forward-looking statements are subject to
risks and uncertainties that could cause actual results to differ from those
projected. Other factors that may cause actual results to differ from the
forward-looking statements contained in this release and that may affect the
company's prospects in general include, but are not limited to, changes in
general economic and business conditions (including the baked foods markets),
the company's ability to start the manufacturing lines according to schedule and
train personnel to run the new production capacity, the availability of capital
on acceptable terms, actions of competitors and customers, the extent to which
the company is able to develop new products and markets for its products, Y2K
issues outside the company's control, and such other factors as are described in
the company's filings with the Securities and Exchange Commission.
