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Previous: STONE CONTAINER CORP, 3, 1998-11-30 |
Next: MERIDIAN MEDICAL TECHNOLOGIES INC, DEF 14A, 1998-11-30 |
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
----------------
FORM 8-K
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported):
The Stride Rite Corporation
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(Exact name of registrant as specified in its charter)
Massachusetts
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(State or other jurisdiction of incorporation)
1-4404 04-1399290
- ------------------------- ------------------------------
Commission File Number (IRS Employer Identification No.)
191 Spring Street, P.O. Box 9191, Lexington, Massachusetts 02420
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(Address of principal executive offices) (Zip Code)
(617) 824-6000
--------------------------------
Registrant's Telephone Number
<PAGE>
Item 5. Other Events
In the first quarter of fiscal 1998, the Company restated Earnings per
Share information to conform to SFAS No. 128, "Earnings per Share". In this Form
8-K, the Company is filing amended "Financial Data Schedules" (Exhibit 27) for
its 1996 and 1997 fiscal years and for each of the quarterly periods in such
fiscal years as required by Item 601(c)(2)(iii) of Regulation S-K.
Item 7. Financial Statements, Pro Forma Financial Information
and Exhibits
(a) Financial statements of business acquired.
Not applicable.
(b) Pro forma financial information.
Not applicable.
(c) Exhibits.
Exhibit 27.1 1997 Exhibit 27.
Exhibit 27.2 Third Quarter 1997 Exhibit 27.
Exhibit 27.3 Second Quarter 1997 Exhibit 27.
Exhibit 27.4 First Quarter 1997 Exhibit 27.
Exhibit 27.5 1996 Exhibit 27.
Exhibit 27.6 Third Quarter 1996 Exhibit 27.
Exhibit 27.7 Second Quarter 1996 Exhibit 27.
Exhibit 27.8 First Quarter 1997 Exhibit 27.
<PAGE>
SIGNATURE
Pursuant to the requirements of Section 12 of the Securities Exchange
Act of 1934, the registrant has duly caused this report to be signed on its
behalf by the undersigned, thereunto duly authorized.
Dated: November 25, 1998
THE STRIDE RITE CORPORATION
By: /s/ John M. Kelliher
John M. Kelliher
Chief Financial Officer
<TABLE> <S> <C>
<ARTICLE> 5
<LEGEND>
The notes to the condensed consolidated financial statements are an integral
part of such statements and the condensed consolidated financial information in
this schedule. Figures below are in thousands, except per-share data.
</LEGEND>
<S> <C> <C>
<PERIOD-TYPE> 3-MOS 12-MOS
<FISCAL-YEAR-END> NOV-28-1997 NOV-28-1997
<PERIOD-END> NOV-28-1997 NOV-28-1997
<CASH> 41,663 41,663
<SECURITIES> 9,417 9,417
<RECEIVABLES> 60,714 60,714
<ALLOWANCES> 9,006 9,006
<INVENTORY> 134,728 134,728
<CURRENT-ASSETS> 271,651 271,651
<PP&E> 89,738 89,738
<DEPRECIATION> 34,343 34,343
<TOTAL-ASSETS> 343,918 343,918
<CURRENT-LIABILITIES> 95,388 95,388
<BONDS> 0 0
0 0
0 0
<COMMON> 14,237 14,237
<OTHER-SE> 348,581 348,581
<TOTAL-LIABILITY-AND-EQUITY> 343,918 343,918
<SALES> 97,856 515,728
<TOTAL-REVENUES> 97,856 515,728
<CGS> 61,617 328,172
<TOTAL-COSTS> 61,617 328,172
<OTHER-EXPENSES> 0 0
<LOSS-PROVISION> (415) 1,140
<INTEREST-EXPENSE> 37 188
<INCOME-PRETAX> 1,546 31,928
<INCOME-TAX> 1,149 12,148
<INCOME-CONTINUING> 397 19,780
<DISCONTINUED> 0 0
<EXTRAORDINARY> 0 0
<CHANGES> 0 0
<NET-INCOME> 397 19,780
<EPS-PRIMARY> .01 .41
<EPS-DILUTED> .01 .40
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 5
<LEGEND>
The notes to the condensed consolidated financial statements are an integral
part of such statements and the condensed consolidated financial information in
this schedule. Figures below are in thousands, except per-share data.
</LEGEND>
<S> <C> <C>
<PERIOD-TYPE> 3-MOS 9-MOS
<FISCAL-YEAR-END> NOV-28-1997 NOV-28-1997
<PERIOD-END> AUG-29-1997 AUG-29-1997
<CASH> 7,606 7,606
<SECURITIES> 44,504 44,504
<RECEIVABLES> 95,326 95,326
<ALLOWANCES> 9,433 9,433
<INVENTORY> 116,012 116,012
<CURRENT-ASSETS> 289,648 289,648
<PP&E> 82,980 82,980
<DEPRECIATION> 28,964 28,964
<TOTAL-ASSETS> 362,455 362,455
<CURRENT-LIABILITIES> 104,530 104,530
<BONDS> 0 0
0 0
0 0
<COMMON> 14,237 14,237
<OTHER-SE> 234,892 234,892
<TOTAL-LIABILITY-AND-EQUITY> 362,455 362,455
<SALES> 144,463 417,872
<TOTAL-REVENUES> 144,463 417,872
<CGS> 90,419 266,555
<TOTAL-COSTS> 90,419 266,555
<OTHER-EXPENSES> 0 0
<LOSS-PROVISION> 285 1,555
<INTEREST-EXPENSE> 70 151
<INCOME-PRETAX> 12,892 30,382
<INCOME-TAX> 4,706 10,999
<INCOME-CONTINUING> 8,186 19,383
<DISCONTINUED> 0 0
<EXTRAORDINARY> 0 0
<CHANGES> 0 0
<NET-INCOME> 8,186 19,383
<EPS-PRIMARY> .17 .40
<EPS-DILUTED> .17 .39
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 5
<LEGEND>
The notes to the condensed consolidated financial statements are an integral
part of such statements and the condensed consolidated financial information in
this schedule. Figures below are in thousands, except per-share data.
</LEGEND>
<S> <C> <C>
<PERIOD-TYPE> 3-MOS 6-MOS
<FISCAL-YEAR-END> NOV-28-1997 NOV-28-1997
<PERIOD-END> MAY-30-1997 MAY-30-1997
<CASH> 14,728 14,728
<SECURITIES> 46,387 46,387
<RECEIVABLES> 86,911 86,911
<ALLOWANCES> 8,771 8,771
<INVENTORY> 96,169 96,169
<CURRENT-ASSETS> 271,392 271,392
<PP&E> 82,836 82,836
<DEPRECIATION> 29,273 29,273
<TOTAL-ASSETS> 344,482 344,482
<CURRENT-LIABILITIES> 84,006 84,006
<BONDS> 0 0
0 0
0 0
<COMMON> 14,237 14,237
<OTHER-SE> 237,963 237,963
<TOTAL-LIABILITY-AND-EQUITY> 344,482 344,482
<SALES> 141,604 273,409
<TOTAL-REVENUES> 141,604 273,409
<CGS> 90,341 176,136
<TOTAL-COSTS> 90,341 176,136
<OTHER-EXPENSES> 0 0
<LOSS-PROVISION> 433 1,270
<INTEREST-EXPENSE> 50 81
<INCOME-PRETAX> 11,055 17,490
<INCOME-TAX> 3,978 6,293
<INCOME-CONTINUING> 7,077 11,197
<DISCONTINUED> 0 0
<EXTRAORDINARY> 0 0
<CHANGES> 0 0
<NET-INCOME> 7,077 11,197
<EPS-PRIMARY> .15 .23
<EPS-DILUTED> .14 .22
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 5
<LEGEND>
The notes to the condensed consolidated financial statements are an integral
part of such statements and the condensed consolidated financial information in
this schedule. Figures below are in thousands, except per-share data.
</LEGEND>
<S> <C>
<PERIOD-TYPE> 3-MOS
<FISCAL-YEAR-END> NOV-28-1997
<PERIOD-END> FEB-28-1997
<CASH> 11,552
<SECURITIES> 36,270
<RECEIVABLES> 100,838
<ALLOWANCES> 8,034
<INVENTORY> 107,383
<CURRENT-ASSETS> 284,947
<PP&E> 81,205
<DEPRECIATION> 27,983
<TOTAL-ASSETS> 357,284
<CURRENT-LIABILITIES> 91,412
<BONDS> 0
0
0
<COMMON> 14,237
<OTHER-SE> 243,360
<TOTAL-LIABILITY-AND-EQUITY> 357,284
<SALES> 131,805
<TOTAL-REVENUES> 131,805
<CGS> 85,795
<TOTAL-COSTS> 85,795
<OTHER-EXPENSES> 0
<LOSS-PROVISION> 837
<INTEREST-EXPENSE> 31
<INCOME-PRETAX> 6,435
<INCOME-TAX> 2,315
<INCOME-CONTINUING> 4,120
<DISCONTINUED> 0
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> 4,120
<EPS-PRIMARY> .08
<EPS-DILUTED> .08
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 5
<LEGEND>
The notes to the condensed consolidated financial statements are an integral
part of such statements and the condensed consolidated financial information in
this schedule. Figures below are in thousands, except per-share data.
</LEGEND>
<S> <C> <C>
<PERIOD-TYPE> 3-MOS 12-MOS
<FISCAL-YEAR-END> NOV-29-1996 NOV-29-1996
<PERIOD-END> NOV-29-1996 NOV-29-1996
<CASH> 57,269 57,269
<SECURITIES> 34,611 34,611
<RECEIVABLES> 52,038 52,038
<ALLOWANCES> 7,172 7,172
<INVENTORY> 119,087 119,087
<CURRENT-ASSETS> 296,128 296,128
<PP&E> 78,678 78,678
<DEPRECIATION> 25,784 25,784
<TOTAL-ASSETS> 364,330 364,330
<CURRENT-LIABILITIES> 94,531 94,531
<BONDS> 0 0
0 0
0 0
<COMMON> 14,237 14,237
<OTHER-SE> 247,287 247,287
<TOTAL-LIABILITY-AND-EQUITY> 364,330 364,330
<SALES> 81,673 448,297
<TOTAL-REVENUES> 81,673 448,297
<CGS> 54,823 295,292
<TOTAL-COSTS> 54,823 295,292
<OTHER-EXPENSES> 0 0
<LOSS-PROVISION> 130 1,214
<INTEREST-EXPENSE> 35 701
<INCOME-PRETAX> (7,088) 3,027
<INCOME-TAX> (2,004) 528
<INCOME-CONTINUING> (5,084) 2,499
<DISCONTINUED> 0 0
<EXTRAORDINARY> 0 0
<CHANGES> 0 0
<NET-INCOME> (5,084) 2,499
<EPS-PRIMARY> (.10) .05
<EPS-DILUTED> (.10) .05
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 5
<LEGEND>
The notes to the condensed consolidated financial statements are an integral
part of such statements and the condensed consolidated financial information in
this schedule. Figures below are in thousands, except per-share data.
</LEGEND>
<S> <C> <C>
<PERIOD-TYPE> 3-MOS 9-MOS
<FISCAL-YEAR-END> NOV-29-1996 NOV-29-1996
<PERIOD-END> AUG-30-1996 AUG-30-1996
<CASH> 41,080 41,080
<SECURITIES> 30,016 30,016
<RECEIVABLES> 81,996 81,996
<ALLOWANCES> 7,037 7,037
<INVENTORY> 97,328 97,328
<CURRENT-ASSETS> 287,264 287,264
<PP&E> 80,012 80,012
<DEPRECIATION> 25,737 25,737
<TOTAL-ASSETS> 358,141 358,141
<CURRENT-LIABILITIES> 79,470 79,470
<BONDS> 0 0
0 0
0 0
<COMMON> 14,237 14,237
<OTHER-SE> 254,157 254,157
<TOTAL-LIABILITY-AND-EQUITY> 358,141 358,141
<SALES> 123,450 366,624
<TOTAL-REVENUES> 123,450 366,624
<CGS> 80,067 240,469
<TOTAL-COSTS> 80,067 240,469
<OTHER-EXPENSES> 0 0
<LOSS-PROVISION> 226 1,084
<INTEREST-EXPENSE> 38 666
<INCOME-PRETAX> 3,906 10,115
<INCOME-TAX> 713 2,532
<INCOME-CONTINUING> 3,193 7,583
<DISCONTINUED> 0 0
<EXTRAORDINARY> 0 0
<CHANGES> 0 0
<NET-INCOME> 3,193 7,583
<EPS-PRIMARY> .06 .15
<EPS-DILUTED> .06 .15
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 5
<LEGEND>
The notes to the condensed consolidated financial statements are an integral
part of such statements and the condensed consolidated financial information in
this schedule. Figures below are in thousands, except per-share data.
</LEGEND>
<S> <C> <C>
<PERIOD-TYPE> 3-MOS 6-MOS
<FISCAL-YEAR-END> NOV-29-1996 NOV-29-1996
<PERIOD-END> MAY-31-1996 MAY-31-1996
<CASH> 31,834 31,834
<SECURITIES> 25,615 25,615
<RECEIVABLES> 79,722 79,722
<ALLOWANCES> 6,757 6,757
<INVENTORY> 107,903 107,903
<CURRENT-ASSETS> 282,966 282,966
<PP&E> 86,357 86,357
<DEPRECIATION> 26,959 26,959
<TOTAL-ASSETS> 353,765 353,765
<CURRENT-LIABILITIES> 74,592 74,592
<BONDS> 0 0
0 0
0 0
<COMMON> 14,237 14,237
<OTHER-SE> 253,354 253,354
<TOTAL-LIABILITY-AND-EQUITY> 353,765 353,765
<SALES> 124,185 243,084
<TOTAL-REVENUES> 124,185 243,084
<CGS> 81,256 160,402
<TOTAL-COSTS> 81,256 160,402
<OTHER-EXPENSES> 0 0
<LOSS-PROVISION> 214 858
<INTEREST-EXPENSE> 313 628
<INCOME-PRETAX> 4,188 6,209
<INCOME-TAX> 1,176 1,819
<INCOME-CONTINUING> 3,012 4,390
<DISCONTINUED> 0 0
<EXTRAORDINARY> 0 0
<CHANGES> 0 0
<NET-INCOME> 3,012 4,390
<EPS-PRIMARY> .06 .09
<EPS-DILUTED> .06 .09
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 5
<LEGEND>
The notes to the condensed consolidated financial statements are an integral
part of such statements and the condensed consolidated financial information in
this schedule. Figures below are in thousands, except per-share data.
</LEGEND>
<S> <C>
<PERIOD-TYPE> 3-MOS
<FISCAL-YEAR-END> NOV-29-1996
<PERIOD-END> MAR-01-1996
<CASH> 13,081
<SECURITIES> 37,765
<RECEIVABLES> 92,921
<ALLOWANCES> 6,949
<INVENTORY> 126,142
<CURRENT-ASSETS> 313,660
<PP&E> 85,839
<DEPRECIATION> 26,553
<TOTAL-ASSETS> 385,725
<CURRENT-LIABILITIES> 107,787
<BONDS> 0
0
0
<COMMON> 14,237
<OTHER-SE> 252,119
<TOTAL-LIABILITY-AND-EQUITY> 385,725
<SALES> 118,899
<TOTAL-REVENUES> 118,899
<CGS> 79,146
<TOTAL-COSTS> 79,146
<OTHER-EXPENSES> 0
<LOSS-PROVISION> 644
<INTEREST-EXPENSE> 315
<INCOME-PRETAX> 2,021
<INCOME-TAX> 643
<INCOME-CONTINUING> 1,378
<DISCONTINUED> 0
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> 1,378
<EPS-PRIMARY> .03
<EPS-DILUTED> .03
</TABLE>
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