UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-K/A No.1
ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
For the fiscal year ended December 28, 1997
Commission File Number 1-10333
CENTRAL NEWSPAPERS, INC.
(Exact name of registrant as specified in its charter)
Indiana 35-0220660
(State or other jurisdiction (I.R.S. Employer Identification Number)
of incorporation or organization)
200 E. Van Buren Street, Phoenix, Arizona 85004
(Address of principal executive offices and zip code)
Registrant's telephone number, including area code: (602) 444-8000
Securities registered pursuant to Section 12(b) of the Act:
Name of each
Title of each class exchange on which registered
------------------- ----------------------------
Class A Common Stock, without par value New York Stock Exchange
Indicate by check mark whether the registrant (1) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the preceding 12 months (or for such shorter period that the registrant was
required to file such reports) and (2) has been subject to such filing
requirements for the past 90 days.
Yes X No
--- ---
Indicate by check mark if disclosure of delinquent filers pursuant to Item 405
of Regulation S-K is not contained herein, and will not be contained, to the
best of Registrant's knowledge, in definitive proxy or information statements
incorporated by reference in Part III of this Form 10-K or any amendment to this
Form 10-K. (X)
The aggregate market value of the voting stock held by non-affiliates on
February 27, 1998, based on the closing price for the Company's Class A Common
Stock on the New York Stock Exchange on such date and assuming the conversion
of all outstanding shares of Class B Common Stock into shares of Class A Common
Stock at a ratio of one-tenth (.10) of a share of Class A Common Stock for each
share of Class B Common Stock: approximately $1,030,000,000. For purposes of
the foregoing calculation only, required by Form 10-K, the Registrant has
included as shares owned by affiliates, the shares of Class A Common Stock and
Class B Common Stock beneficially owned by officers and directors of the
Registrant and by holders of 10% or more of either class. Such inclusion shall
not be construed as an admission that any such person is an affiliate for any
other purpose.
Shares outstanding at March 31, 1998:
Class A Common Stock -- 22,114,290 shares
Class B Common Stock -- 31,345,500 shares
<PAGE>
This Form 10-K/A No. 1 for Central Newspapers, Inc. (the "Company") is being
filed pursuant to Regulation S-K Item 601(c)(2)(iii) to amend the Financial Data
Schedules for the three fiscal years and the interim periods for the two fiscal
years ended December 27, 1997 due to the Company's adoption of Statement of
Financial Accounting Standards No. 128 "Earnings Per Share." The Company adopted
this new standard in the fourth quarter of 1997 and has restated EPS for all
prior periods. Accordingly, Exhibit 27 to the Form 10-K of the Company is being
replaced by Exhibits 27.1, 27.2 and 27.3 included in this Form 10-K/A No.1.
EXHIBIT INDEX
EX-27.1 Restated Financial Data Schedule as of and for the year ended December
31, 1995.
EX-27.2 Restated Financial Data Schedule as of and for the periods ended March
31, 1996, June 30, 1996, September 29, 1996 and December 29, 1996.
EX-27.3 Restated Financial Data Schedule as of and for the periods ended March
30, 1997, June 29, 1997, September 28, 1997 and December 28, 1997.
<PAGE>
SIGNATURES
Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange
Act of 1934, as amended, the Registrant has duly caused this amended report
to be signed on its behalf by the undersigned, thereunto duly authorized.
April 30, 1998 CENTRAL NEWSPAPERS, INC.
By:/s/ Louis A. Weil, III
----------------------
Louis A. Weil, III
President and Chief Executive Officer
By:/s/ Thomas K. MacGillivray
--------------------------
Vice President and Chief
Financial Officer
<TABLE> <S> <C>
<ARTICLE> 5
<LEGEND>
This schedule contains unaudited summary financial information extracted from
the consolidated financial statements of Central Newspapers, Inc. as of and for
the year ended December 31, 1995 and is qualified in its entirety by reference
to such statements.
</LEGEND>
<RESTATED>
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1995
<PERIOD-END> DEC-31-1995
<CASH> 26142
<SECURITIES> 103390
<RECEIVABLES> 62355
<ALLOWANCES> 1067
<INVENTORY> 10125
<CURRENT-ASSETS> 213018
<PP&E> 487751
<DEPRECIATION> 206946
<TOTAL-ASSETS> 547204
<CURRENT-LIABILITIES> 75200
<BONDS> 2678
0
0
<COMMON> 19030
<OTHER-SE> 339711
<TOTAL-LIABILITY-AND-EQUITY> 547204
<SALES> 579901
<TOTAL-REVENUES> 579901
<CGS> 0
<TOTAL-COSTS> 494010
<OTHER-EXPENSES> 0
<LOSS-PROVISION> 0
<INTEREST-EXPENSE> 238
<INCOME-PRETAX> 94045
<INCOME-TAX> 38048
<INCOME-CONTINUING> 53998
<DISCONTINUED> 0
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> 53998
<EPS-PRIMARY> 2.03
<EPS-DILUTED> 2.01
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 5
<LEGEND>
This schedule contains unaudited summary financial information extracted from
the consolidated financial statements of Central Newspapers, Inc. as of and for
the periods ended March 31, 1996, June 30, 1996, September 29, 1996 and
December 29, 1996 and is qualified in its entirety by reference to such
statements.
</LEGEND>
<RESTATED>
<MULTIPLIER> 1000
<S> <C> <C> <C> <C>
<PERIOD-TYPE> 3-MOS 6-MOS 9-MOS YEAR
<FISCAL-YEAR-END> DEC-29-1996 DEC-29-1996 DEC-29-1996 DEC-29-1996
<PERIOD-END> MAR-31-1996 JUN-30-1996 SEP-29-1996 DEC-29-1996
<CASH> 36205 28245 34088 36149
<SECURITIES> 48846 44724 34780 25612
<RECEIVABLES> 58224 59510 61326 91661
<ALLOWANCES> 792 1085 1300 1638
<INVENTORY> 10988 9038 8219 8912
<CURRENT-ASSETS> 166406 152942 149219 171462
<PP&E> 486375 500023 507124 512852
<DEPRECIATION> 195959 204442 211086 215872
<TOTAL-ASSETS> 567740 562996 561187 586972
<CURRENT-LIABILITIES> 78719 70053 68682 79139
<BONDS> 7178 7178 4178 2678
0 0 0 0
0 0 0 0
<COMMON> 20162 22742 21625 24322
<OTHER-SE> 344908 347639 350438 363228
<TOTAL-LIABILITY-AND-EQUITY> 567740 562996 561187 586972
<SALES> 147896 300613 449631 620315
<TOTAL-REVENUES> 147896 300613 449631 620315
<CGS> 0 0 0 0
<TOTAL-COSTS> 133597 265763 390486 520456
<OTHER-EXPENSES> 0 0 0 0
<LOSS-PROVISION> 0 0 0 0
<INTEREST-EXPENSE> 168 405 520 618
<INCOME-PRETAX> 15892 37641 62739 103868
<INCOME-TAX> 6592 15674 25903 42431
<INCOME-CONTINUING> 9809 22806 37871 61534
<DISCONTINUED> 0 0 0 0
<EXTRAORDINARY> 0 0 0 0
<CHANGES> 0 0 0 0
<NET-INCOME> 9809 22806 37871 61534
<EPS-PRIMARY> .37 .85 1.42 2.31
<EPS-DILUTED> .36 .84 1.40 2.28
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 5
<LEGEND>
This schedule contains unaudited summary financial information extracted from
the consolidated financial statements of Central Newspapers, Inc. as of and for
the periods ended March 30, 1997, June 29, 1997, September 28, 1997 and
December 28, 1997 and is qualified in its entirety by reference to such
statements.
</LEGEND>
<RESTATED>
<MULTIPLIER> 1000
<S> <C> <C> <C> <C>
<PERIOD-TYPE> 3-MOS 6-MOS 9-MOS YEAR
<FISCAL-YEAR-END> DEC-28-1997 DEC-28-1997 DEC-28-1997 DEC-28-1997
<PERIOD-END> MAR-30-1997 JUN-29-1997 SEP-28-1997 DEC-28-1997
<CASH> 59447 50065 55751 36924
<SECURITIES> 11952 10268 11794 11524
<RECEIVABLES> 79893 82913 81013 92666
<ALLOWANCES> 2546 3010 3092 2959
<INVENTORY> 8697 11605 11481 10320
<CURRENT-ASSETS> 170401 165833 175055 162106
<PP&E> 520254 525217 530163 537134
<DEPRECIATION> 224593 233796 243088 250451
<TOTAL-ASSETS> 622714 613547 620920 614311
<CURRENT-LIABILITIES> 91723 119219 114870 97367
<BONDS> 2678 2678 2678 0
18920 18920 18920 18920
0 0 0 0
<COMMON> 25826 26794 27973 29997
<OTHER-SE> 372148 332784 340840 352282
<TOTAL-LIABILITY-AND-EQUITY> 622714 613547 620920 614311
<SALES> 170968 350721 524628 716137
<TOTAL-REVENUES> 170968 350721 524628 716137
<CGS> 0 0 0 0
<TOTAL-COSTS> 139960 280877 424236 575100
<OTHER-EXPENSES> 174 990 1613 2166
<LOSS-PROVISION> 0 0 0 0
<INTEREST-EXPENSE> 25 437 748 1710
<INCOME-PRETAX> 32100 71405 102143 143189
<INCOME-TAX> 13534 29552 42304 58797
<INCOME-CONTINUING> 17738 40131 57609 81495
<DISCONTINUED> 0 0 0 0
<EXTRAORDINARY> 0 0 0 0
<CHANGES> 0 0 0 0
<NET-INCOME> 17738 40131 57609 81495
<EPS-PRIMARY> .67 1.53 2.22 3.17
<EPS-DILUTED> .66 1.49 2.16 3.08
</TABLE>
