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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) MARCH 30, 2000
BLYTH INDUSTRIES, INC.
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(Exact name of registrant as specified in its charter)
Delaware 1-13026 36-2984916
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(State or other (Commission (IRS Employer
jurisdiction of File Number) Identification No.)
incorporation)
100 FIELD POINT ROAD, GREENWICH, CONNECTICUT 06830
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (203) 661-1926
Not Applicable
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(Former name or former address, if changed since last report)
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Item 5. Other Events
See Exhibits 99.1 and 99.2 attached hereto.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits
(c) Exhibits
99.1 Press Release regarding dividend.
99.2 Press Release regarding share repurchase authorization.
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SIGNATURES
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.
BLYTH INDUSTRIES, INC.
Date: March 30, 2000 By: /s/ Bruce D. Kreiger
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Name: Bruce D. Kreiger
Title: Vice President & General Counsel
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Exhibit 99.1
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[LOGO]
CONTACT: FOR IMMEDIATE RELEASE
Richard T. Browning
Chief Financial Officer
(203) 661-1926 ext. 6628
Jane F. Casey
Vice President
(203) 661-1926, ext. 6619
BLYTH INDUSTRIES DECLARES FIRST SEMIANNUAL CASH DIVIDEND
GREENWICH, CT, USA, March 30, 2000: Blyth Industries, Inc. (NYSE:BTH) announced
that it has declared a cash dividend of $0.10 per share of the Company's common
stock for the six months ended January 31, 2000. The dividend reflects the
Company's intention to initiate the payment of semiannual dividends. The
dividend, authorized at the March 30, 2000 Blyth Board of Directors meeting,
will be payable to shareholders of record as of May 1, 2000, and will be paid on
May 15, 2000.
Robert B. Goergen, Chairman and Chief Executive Officer of Blyth said, "Blyth
consistently generates substantial cash flow from operations which we use to
invest in Blyth's growth, as well as to repay debt and repurchase shares. We
believe that, given Blyth's strong financial position and prospects for future
growth, the payment of a cash dividend represents another important element in
support of our goal to deliver long-term returns to our shareholders." Mr.
Goergen added, "We further believe the payment of a cash dividend will broaden
the base of potential investors since it will allow our stock to be considered
by those institutional investors that require dividend payments as part of their
investment criteria."
Blyth Industries, Inc., headquartered in Greenwich, CT, designs, manufactures,
and markets an extensive line of candles and home fragrance products including
scented candles, outdoor lighting products, potpourri and environmental
fragrance products, and markets a broad range of related candle accessories and
decorative seasonal products. Its products are sold in the United States under
various brand names, including Colonial Candle of Cape Cod -Registered
Trademark- , PartyLite Gifts -Registered Trademark- , Carolina Designs
- -Registered Trademark-, Ambria-TM-, Canterbury -Registered Trademark-,
Florasense -Registered Trademark-, Jeanmarie-Registered Trademark- and
FilterMate -Registered Trademark- and in Europe under Gies-TM-, Liljeholmens
- -Registered Trademark- and Colony. It is also a leading producer of portable
heating fuel products sold under the Sterno -Registered Trademark- and Handy
Fuel -Registered Trademark-
100 Field Point Road Greenwich, CT 06830 Tel (203) 661-1926 Fax (203) 661-1969
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brand names. Net Sales for the twelve months ended January 31, 2000 totaled
$1,097,450,000.
Blyth Industries, Inc. can be found on the Internet at
http://www.blythindustries.com.
This press release contains "forward-looking statements", within the meaning of
the Private Securities Litigation Reform Act of 1995. Forward-looking statements
include statements concerning plans, objectives, goals, strategies, future
events or performance and underlying assumptions and other statements which are
other than statements of historical facts. Actual results could differ
materially due to various factors, including the risk of maintaining the
Company's growth rate, the Company's ability to respond to increased product
demand, the risks associated with international sales and foreign products,
dependence on key management personnel, competition in terms of price and new
product introductions, and other factors described in this press release, in the
Company's Quarterly Report on Form 10-Q for the quarter ended October 31, 1999,
and in the Company's Annual Report on Form 10-K for the year ended January 31,
1999.
# # #
100 Field Point Road Greenwich, CT 06830 Tel (203) 661-1926 Fax (203) 661-1969
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Exhibit 99.2
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[LOGO]
CONTACT: FOR IMMEDIATE RELEASE
Richard T. Browning
Chief Financial Officer
(203) 661-1926 ext. 6628
Jane F. Casey
Vice President
(203) 661-1926 ext. 6619
BLYTH INDUSTRIES INCREASES SHARE REPURCHASE AUTHORIZATION
GREENWICH, CT, USA March 30, 2000: Blyth Industries, Inc. (NYSE:BTH) announced
today that its Board of Directors has authorized an increase of up to one
million shares in the Company's Common Stock repurchase program. As of February
29, 2000, the Company had approximately 48.0 million shares outstanding.
The Blyth stock repurchase program was initiated by the Board of Directors in
September, 1998. The initial authorization was increased in May, 1999. The
Company is currently authorized to repurchase up to two million shares of its
Common Stock in open market or negotiated transactions. Today's increase brings
the cumulative total authorization to three million shares.
As of today, the Company has repurchased approximately 1.3 million shares at a
cost of approximately $33.2 million since the program began in 1998. After
giving effect to those repurchases, and to the additional authorization approved
by the Board of Directors today, 1.7 million shares remain available for
repurchase under the total authorization.
Robert B. Goergen, Chairman & CEO said, "Extending our share repurchase program
indicates our belief that the fundamentals of our business are solid, the long
term growth prospects are strong and the use of funds to make the investment
represents enhanced value for our shareholders. We will continue to repurchase
shares over an extended period of time, with the specific timing dependent on
price, market conditions and other factors, such as shares issued under the
employee stock option plan." He continued to say, "we are pleased that our
strong cash position allows us to make these share repurchases while continuing
to invest in the growth of our business."
Blyth Industries, Inc., headquartered in Greenwich, CT, designs, manufactures,
markets and distributes an extensive line of candles and home fragrance products
including scented candles,
100 Field Point Road Greenwich, CT 06830 Tel (203) 661-1926 Fax (203) 661-1969
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outdoor lighting products, potpourri and environmental fragrance products, and
markets a broad range of related candle accessories and decorative gift bags and
tags. Its products are sold in the United States under various brand names,
including Colonial Candle of Cape Cod -Registered Trademark-, PartyLite Gifts
- -Registered Trademark-, Carolina Designs -Registered Trademark-, Ambria-TM-,
Canterbury -Registered Trademark-, Florasense -Registered Trademark-, Jeanmarie
- -Registered Trademark- and FilterMate -Registered Trademark- and in Europe under
Gies, Liljeholmens and Colony. It is also a leading producer of portable heating
fuel products sold under the Sterno -Registered Trademark- and Handy Fuel
- -Registered Trademark- brand names. Net Sales for the twelve months ended
January 31, 2000 totaled $1,097,450,000.
Blyth Industries can be found on the Internet at www.blythindustries.com.
This press release contains "forward-looking statements", within the meaning of
the Private Securities Litigation Reform Act of 1995. Forward-looking statements
include statements concerning plans, objectives, goals, strategies, future
events or performance and underlying assumptions and other statements which are
other than statements of historical facts. Actual results could differ
materially due to various factors, including the risk of maintaining the
Company's growth rate, the Company's ability to respond to increased product
demand, the risks associated with international sales and foreign products,
dependence on key management personnel, competition in terms of price and new
product introductions, and other factors described in this press release, in the
Company's Quarterly Report on Form 10-Q for the quarter ended October 31, 1999,
and in the Company's Annual Report on Form 10-K for the year ended January 31,
1999.
# # #
100 Field Point Road Greenwich, CT 06830 Tel (203) 661-1926 Fax (203) 661-1969
