SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 10-Q
(X) QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
ACT OF 1934
For the quarterly period ended July 1, 2000
------------
OR
( ) TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934
For the transition period from ___________to___________
Commission File Number 0-6187
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BANTA CORPORATION
--------------------------------------------------------------------------------
(Exact name of registrant as specified on its charter)
Wisconsin 39-0148550
--------- ----------
(State or other jurisdiction (IRS Employer
of incorporation or organization) I.D. Number)
225 Main Street, Menasha, Wisconsin 54952
--------------------------------------- -----
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (920) 751-7777
--------------
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 / /
The registrant had outstanding on July 1, 2000, 24,953,903 shares of $.10
par value common stock.
<PAGE>
BANTA CORPORATION AND SUBSIDIARIES
Quarterly Report on Form 10-Q
For the Quarter Ended July 1, 2000
INDEX
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Page Number
-----------
PART I FINANCIAL INFORMATION:
Item 1 - Financial Statements
Unaudited Consolidated Condensed Balance Sheets
July 1, 2000 and January 1, 2000............................ 3
Unaudited Consolidated Condensed Statements of
Earnings for the Three Months and Six Months
Ended July 1, 2000 and July 3, 1999......................... 4
Unaudited Consolidated Condensed Statements of Cash
Flows for the Three Months and Six Months Ended
July 1, 2000 and July 3, 1999............................... 5
Notes to Unaudited Consolidated Condensed
Financial Statements........................................6-9
Item 2 - Management's Discussion and Analysis of Financial
Condition and Results of Operations........................10-12
Item 3 - Quantitative and Qualitative Disclosures about
Market Risk................................................. 12
PART II OTHER INFORMATION
Item 4 - Submission of Matters to a Vote of Security Holders.......... 13
Item 6 - Exhibits and Reports on Form 8-K............................. 14
Exhibit Index ............................................................. 15
<PAGE>
PART I Item 1. Financial Statements
<TABLE>
BANTA CORPORATION AND SUBSIDIARIES
UNAUDITED CONSOLIDATED CONDENSED BALANCE SHEETS
<CAPTION>
(Dollars in thousands)
July 1, 2000 January 1, 2000
------------ ---------------
ASSETS
------
Current Assets
<S> <C> <C>
Cash and cash equivalents $ 18,392 $ 27,651
Receivables 222,999 218,047
Inventories 117,602 86,094
Other current assets 22,138 24,069
------------ ---------------
Total Current Assets 381,131 355,861
------------ ---------------
Plant and Equipment 852,753 811,800
Less: Accumulated Depreciation (508,699) (484,450)
------------ ---------------
Plant and Equipment, net 344,054 327,350
Other Assets and Investments 41,542 31,111
Cost in Excess of Net Assets of Subsidiaries Acquired 63,681 59,022
------------ ---------------
$ 830,408 $ 773,344
============ ===============
LIABILITIES AND SHAREHOLDERS' INVESTMENT
Current Liabilities
Short-term debt $ 60,003 $ 88,499
Accounts payable 107,311 96,456
Accrued salaries and wages 35,352 31,848
Other accrued liabilities 24,903 21,435
Current maturities of long-term debt 8,433 7,115
------------ ---------------
Total Current Liabilities 236,002 245,353
------------ ---------------
Long-term Debt 183,597 113,520
Deferred Income Taxes 20,344 20,382
Other Non-Current Liabilities 40,506 40,314
------------ ---------------
Total Liabilities 480,449 419,569
------------ ---------------
Shareholders' Investment
Preferred stock-$10 par value;
authorized 300,000 shares; none issued 0 0
Common stock-$.10 par value;
Authorized 75,000,000 shares;
27,709,103 shares issued 2,771 2,771
Accumulated other comprehensive loss (8,368) (6,389)
Treasury stock, at cost (59,526) (42,790)
Retained earnings 415,082 400,183
------------ ---------------
Total Shareholders' Investment 349,959 353,775
------------ ---------------
$ 830,408 $ 773,344
============ ===============
</TABLE>
See accompanying notes to consolidated financial statements
3
<PAGE>
<TABLE>
BANTA CORPORATION AND SUBSIDIARIES
UNAUDITED CONSOLIDATED CONDENSED STATEMENT OF EARNINGS
<CAPTION>
(Dollars in thousands, except per share amounts)
Three Months Ended Six Months Ended
July 1, 2000 July 3, 1999 July 1, 2000 July 3, 1999
------------ ------------ ------------ ------------
<S> <C> <C> <C> <C>
Net Sales $ 345,842 $ 299,080 $ 674,626 $ 608,366
Cost of goods sold 271,351 237,395 533,628 484,986
------------ ------------ ------------ ------------
Gross earnings 74,491 61,685 140,998 123,380
Selling and administrative expenses 49,319 39,039 95,189 81,343
Restructuring Charge - 55,000 - 55,000
------------ ------------ ------------ ------------
Earnings (loss) from operations 25,172 (32,354) 45,809 (12,963)
Interest expense (3,738) (2,852) (7,628) (5,799)
Other expense, net (590) (321) (943) (753)
------------ ------------ ------------ ------------
Earnings (loss) before income taxes 20,844 (35,527) 37,238 (19,515)
Provision (benefit) for income taxes 8,200 (8,800) 14,700 (2,500)
------------ ------------ ------------ ------------
Net earnings (loss) $ 12,644 $ (26,727) $ 22,538 $ (17,015)
============ ============ ============ ============
Basic earnings (loss) per share of common stock $ 0.50 $ (0.97) $ 0.89 $ (0.61)
============ ============ ============ ============
Diluted earnings (loss) per share of common stock $ 0.50 $ (0.97) $ 0.89 $ (0.61)
============ ============ ============ ============
Cash dividends per common share $ 0.15 $ 0.14 $ 0.30 $ 0.28
============ ============ ============ ============
See accompanying notes to consolidated financial statements.
</TABLE>
4
<PAGE>
<TABLE>
BANTA CORPORATION AND SUBSIDIARIES
UNAUDITED CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS
<CAPTION>
(Dollars in thousands)
Six Months Ended
July 1, 2000 July 3, 1999
------------ ------------
Cash Flows From Operating Activities
<S> <C> <C>
Net earnings (loss) $ 22,538 $ (17,015)
Depreciation and amortization 36,681 33,718
Deferred income taxes 789 (597)
Restructuring charge - 55,000
Cash paid for restructuring (3,139) (6,490)
Gain on sale of assets 76 -
Change in assets and liabilities, net of acquisition:
Decrease in receivables 669 26,216
(Increase) decrease in inventories (28,684) 354
Decrease (increase) in other current assets 658 (945)
Increase (decrease) in accounts payable
and accrued liabilities 19,895 (22,153)
Other, net (3,068) (398)
------------ ------------
Cash provided from operating activities 46,415 67,690
------------ ------------
Cash Flows From Investing Activities
Capital expenditures, net (44,239) (33,974)
Cash used for acquisitions, net of cash acquired (11,547) -
Additions to long-term investments (10,416) (8,095)
------------ ------------
Cash provided by (used for) investing activities (66,202) (42,069)
------------ ------------
Cash Flows From Financing Activities
(Repayments of) proceeds from short-term debt, net (32,496) 1,461
Proceeds from (repayment of) long-term debt, net 67,399 (1,993)
Dividends paid (7,639) (7,809)
Proceeds from exercise of stock options - 608
Repurchase of common stock (16,736) (25,208)
------------ ------------
Cash provided by (used for) financing activities 10,528 (32,941)
------------ ------------
Net decrease in cash (9,259) (7,320)
Cash and cash equivalents at beginning of period 27,651 26,584
------------ ------------
Cash and cash equivalents at end of period $ 18,392 $ 19,264
============ ============
Cash payments for:
Interest, net of amount capitalized $ 6,396 $ 4,901
Income taxes 17,595 8,803
</TABLE>
See accompanying notes to consolidated statements
5
<PAGE>
BANTA CORPORATION AND SUBSIDIARIES
NOTES TO UNAUDITED CONSOLIDATED CONDENSED FINANCIAL STATEMENTS
1) Basis of Presentation
The condensed financial statements included herein have been prepared by
the Corporation, without audit, pursuant to the rules and regulations of
the Securities and Exchange Commission. Certain information and footnote
disclosures normally included in financial statements prepared in
accordance with generally accepted accounting principles have been
condensed or omitted pursuant to such rules and regulations, although the
Corporation believes that the disclosures are adequate to make the
information presented not misleading. It is suggested that these condensed
financial statements be read in conjunction with the financial statements
and the notes thereto included in the Corporation's latest Annual Report on
Form 10-K.
In the opinion of management, the aforementioned statements reflect all
adjustments (consisting only of normal recurring adjustments) necessary for
a fair presentation of the results for the interim periods. Results for the
three and six months ended July 1, 2000 are not necessarily indicative of
results that may be expected for the year ending December 30, 2000.
2) Inventories
The Corporation's inventories are stated at the lower of cost or market
using the first-in, first-out (FIFO) method. Inventories include material,
labor and manufacturing overhead. Inventory amounts at July 1, 2000 and
January 1, 2000 were as follows:
(Dollars in thousands)
July 1, 2000 January 1, 2000
------------ ---------------
Raw Materials and Supplies $ 61,542 $ 51,425
Work-In-Process and Finished Goods 56,060 34,669
------------ ---------------
FIFO value (current cost of $ 117,602 $ 86,094
all inventories) ============ ===============
3) Earnings Per Share of Common Stock
Basic earnings per share of common stock is computed by dividing net
earnings by the weighted average number of common shares outstanding during
the period. Diluted earnings per share of common stock is computed by
dividing net earnings by the weighted average number of common shares and
common equivalent shares outstanding. The common equivalent shares relate
entirely to the assumed exercise of stock options.
6
<PAGE>
The weighted average shares used in the computation of earnings per share
were as follows (in millions of shares):
Three Months Ended Six Months Ended
----------------------------- ---------------------------
July 1, 2000 July 3, 1999 July 1, 2000 July 3, 1999
------------ ------------ ------------ ------------
Basic 25.1 27.4 25.3 27.7
Diluted 25.1 27.4 25.3 27.7
4) Comprehensive Income (Loss)
Total comprehensive income (loss), comprised of net earnings (loss) and
other comprehensive income (loss), was $12,131,000 and $(28,073,000) for
the second quarter of 2000 and 1999, respectively. For the first half of
2000 and 1999, comprehensive income (loss) was $20,559,000 and
$(20,752,000), respectively. Other comprehensive income (loss) was
comprised solely of foreign currency translation adjustments. The
Corporation does not provide U.S. income taxes on foreign currency
translation adjustments because it does not provide for such taxes on
undistributed earnings of foreign subsidiaries.
5) Segment Information
The Corporation operates in one primary business segment, print, with other
business operations in turnkey services and healthcare products. Summarized
segment data for the three months ended July 1, 2000 and July 3, 1999 are
as follows:
Turnkey
Dollars in thousands Printing Services Healthcare Total
--------------------------------------------------------------------------
2000
Net sales $251,760 $69,218 $24,864 $345,842
Intersegment sales 534 - - 534
Earnings from operations 24,685 3,507 1,986 30,178
1999
Net sales $226,780 $45,942 $26,358 $299,080
Intersegment sales 834 - - 834
Earnings before restructuring 22,317 207 3,462 25,986
7
<PAGE>
Summarized segment data for the six months ended July 1, 2000 and July 3,
1999 are as follows:
Turnkey
Dollars in thousands Printing Services Healthcare Total
--------------------------------------------------------------------------
2000
Net sales $496,776 $129,227 $48,623 $674,626
Intersegment sales 1,411 - - 1,411
Earnings from operations 45,417 4,730 4,601 54,748
1999
Net sales $463,200 $93,011 $52,155 $608,366
Intersegment sales 2,135 4 - 2,139
Earnings before restructuring 41,638 472 7,370 49,480
The following table presents a reconciliation of segment earnings from
operations to the totals contained in the condensed financial statements
for the three and six months ended July 1, 2000 and July 3, 1999:
<TABLE>
<CAPTION>
Three Months Ended Six Months Ended
Dollars in thousands July 1, 2000 July 3, 1999 July 1, 2000 July 3, 1999
------------ ------------ ------------ ------------
<S> <C> <C> <C> <C>
Reportable segment earnings $30,178 $25,986 $54,748 $49,480
Restructuring charge - (55,000) (55,000)
Unallocated corporate expenses (5,006) (3,340) (8,939) (7,443)
Interest expense (3,738) (2,852) (7,628) (5,799)
Other expense (590) (321) (943) (753)
------- -------- ------- --------
Earnings (loss) before income taxes $20,844 $(35,527) $37,238 $(19,515)
======= ======== ======= ========
</TABLE>
6) Restructuring Charge
In the second quarter of 1999, the Corporation recorded a restructuring
charge, including related asset writedowns, of $55.0 million ($38.5 million
or $1.40 per diluted share, after tax). The restructuring primarily
involved the Corporation's print segment and resulted in three facility
closings and the elimination of certain underperforming business assets.
The restructuring also resulted in workforce reductions of approximately
650 employees (350 employees at the three facilities closed) and the
writedown of certain long-lived assets, including goodwill. It is expected
that the restructuring activities will be substantially completed in 2000.
8
<PAGE>
Details of the remaining restructuring activity are as follows (in
thousands):
<TABLE>
<CAPTION>
Used in
January 1, 2000 2000 July 1, 2000
--------------- ---------- ------------
<S> <C> <C> <C>
Lease termination payments $ 8,736 $ (1,182) $ 7,554
Employee severance and termination benefit 1,712 (868) 844
Other facility exit costs 1,501 (1,089) 412
-------- -------- -------
$ 11,949 $ (3,139) $ 8,810
======== ======== =======
</TABLE>
7) Treasury Stock
At July 1, 2000, the Corporation held 2,755,200 shares of its common stock
in treasury. These shares were acquired during 1999 and the first six
months of 2000 through the common stock repurchase program and may be
reissued pursuant to the stock option plan or for other purposes.
8) Acquisition of Business
In May 2000, the Corporation acquired Southeastern Color Graphics
("Southeastern") for approximately $11.5 million in cash plus the
assumption of approximately $8.0 million in debt. Southeastern focuses on
product niches that address the non-textbook print component requirements
of elementary and high school markets. Southeastern reported sales for 1999
in excess of $20 million. The purchase price plus the liabilities assumed
exceeded the fair value of the tangible and intangible assets acquired by a
preliminary estimate of $6.3 million. The acquisition was accounted for as
a purchase and accordingly, the accompanying financial statements of the
Corporation include the results of Southeastern beginning with the
acquisition date.
9
<PAGE>
Item 2.
MANAGEMENT'S DISCUSSION AND ANALYSIS
OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
RESULTS OF OPERATIONS
Net Sales
Net sales for the second quarter of 2000 increased to $345.8 million, 15.6%
higher than the $299.1 million in the prior year quarter.
Second quarter sales for the print segment reached $251.8 million, an 11.0%
increase from the prior year's $226.8 million. This increase in print segment
sales was primarily attributed to a high degree of utilization within most print
facilities and an increase in paper prices of approximately 13% compared to the
prior year quarter. The acquisition of Southeastern Color Graphics in the
current year second quarter ($5.2 million of sales) along with the strong demand
for educational and trade books resulted in an increase in the book market
sales. Higher magazine advertising page counts and expanded market share
contributed to an increase in the publications market sales. Catalog market
sales, adjusted for paper price increases, were lower due to reduced volumes
related to lost business from a customer ceasing catalog production and late
quarter cancellations.
Supply-chain management sales of $69.2 million for the current quarter were 51%
higher than the prior period's $45.9 million. This increase was primarily due to
sales from the late-1999 facility start-up in Houston to service Compaq Computer
in North America and will continue to significantly impact the supply-chain
management segment sales in 2000.
Healthcare sales of $24.9 million for the current year second quarter were 5.7%
lower than the prior period sales of $26.4 million. This decrease is partially
attributed to lower unit sales prices for imported gauze products and the
continued consolidation within the customer base, which has eliminated redundant
warehouse requirements.
Net sales for the first half of 2000 increased to $674.6 million, 10.9% higher
than the $608.4 million in the first half of last year. Trends in operating
activity levels for the first two quarters were similar to those described above
for the second quarter.
Earnings from operations
------------------------
Second quarter earnings from operations rose to $25.2 million, 11.2% higher than
the prior year's $22.6 million, before consideration of the 1999 second quarter
restructuring charge. Operating margins of 7.3% were slightly lower than the
prior year operating margins of 7.6%, primarily due to product mix and reduced
operating results from the catalog market.
Print segment earnings from operations for the second quarter increased 10.6%
from the prior year primarily due to aforementioned sales increase and improved
utilization within most print facilities. These gains were offset slightly by an
increase in selling and administrative expenses. Operating margins for the
second quarter compared to the prior year quarter remained consistent at 9.8%.
Earnings from operations for the supply-chain management segment increased $3.3
million from the prior year period primarily from normal operation at the
Houston facility for Compaq assembly and strong volume increases at the Fort
Worth facility. Operating margins increased from 0.5% for the second quarter of
1999 to 5.1% for the current year quarter.
10
<PAGE>
Healthcare segment earnings from operations were approximately $1.5 million
lower than the prior year period and operating margins were 8.0% compared to
13.1% in the prior year. The reduction in earnings and operating margins was
attributed to lower sales volume from industry consolidations, start up costs
associated with foreign sourcing of selected products and higher raw material
prices, which could not be passed onto customers due to competitive pricing and
contractual arrangements.
Earnings from operations for the first half of 2000 increased to $45.8 million,
9.0% higher than the prior year's $42.0 million, before consideration of the
1999 second quarter restructuring charge. Operating margins of 6.8% were
comparable to the prior year period. The improvement in earnings from operations
resulted from the same factors that impacted the second quarter.
Restructuring Charge
--------------------
Earnings from operations for the second quarter of 1999 included a restructuring
charge of $55.0 million. The restructuring initiatives primarily involved the
Corporation's print segment and included three facility closings and the
elimination of certain underperforming business assets. These initiatives
resulted in workforce reductions of approximately 650 employees and the
writedown of certain long-lived assets, including goodwill. At July 1, 2000 the
remaining restructuring reserve was $8.8 million. It is expected that the
restructuring activities will be substantially completed in 2000.
Interest Expense
----------------
Interest expense for the second quarter and first six months of 2000 was $.9
million and $1.8 million higher than the comparable periods in the prior year.
This increase was primarily due to higher rates on short-term commercial paper
and increased debt levels to support the common stock repurchase program,
capital expenditures and additions to long-term investments.
Income Taxes
------------
As indicated below, the Corporation's 2000 second quarter and first half
effective income tax rates were comparable to the prior year periods before
consideration of the 1999 second quarter restructuring charge.
Effective Tax Rate
2000 1999
------------- --------------
Second Quarter 39.3% 39.5%
First Half 39.5% 39.5%
FINANCIAL CONDITION
Liquidity and Capital Resources
-------------------------------
The Corporation's net working capital increased by approximately $34.6 million
during the first half of 2000. The increase was primarily in receivables and
inventories and related to the ramp-up of the Houston facility to support
Compaq, the acquisition of Southeastern Color Graphics ("Southeastern") and
increased sales volumes within the print segment. Also, short-term debt was
reduced by $28.5 million due to the conversion of short-term debt into long-term
debt.
11
<PAGE>
During the first half of 2000, the Corporation repurchased approximately .9
million shares of common stock at an aggregate purchase price of $16.7 million
pursuant to its common stock repurchase program. Cash provided from operations
funded these repurchases. At July 1, 2000 the share repurchase program had in
excess of $80 million in authority remaining for future share repurchases.
Future stock repurchases, if any would be funded by a combination of cash
provided from operations and short-term borrowings.
Long-term debt as a percentage of total capitalization increased to 34.4%
compared with 24.3% at January 1, 2000. This increase was a result of the
Corporation converting $20 million of its short-term floating debt into
long-term debt in March 2000 and issuing $50 million of 8.05% long-term debt in
June 2000.
In May 2000, the Corporation acquired Southeastern for approximately $11.5
million in cash plus the assumption of approximately $8.0 million in debt.
Southeastern focuses on product niches that address the non-textbook print
component requirements of elementary and high school markets. Southeastern
reported sales for 1999 in excess of $20 million. The purchase price plus the
liabilities assumed exceeded the fair value of the tangible and intangible
assets acquired by a preliminary estimate of $6.3 million. The acquisition was
accounted for as a purchase and accordingly, the accompanying financial
statements of the Corporation include the results of Southeastern beginning with
the acquisition date.
In 2000, the Corporation acquired a 13 percent interest in Xyan.com, Inc. for
approximately $6.0 million in cash and the contribution of $1.6 million of
assets. Xyan.com, Inc. is a leading Internet-enabled digital document solutions
provider with document service centers throughout the United States. The cost
method of accounting will be used to account for this investment.
Capital expenditures were $44.0 million during the first half of 2000, an
increase of $10.3 million from the amount expended during the prior year first
half. Significant expenditures included additional equipment to support the
Compaq contract, initial payments for four new presses and continued investment
in new printing and digital imaging technologies. Capital requirements for the
full year are expected to be approximately $115 million and will be funded by a
combination of cash provided from operations and short-term borrowings.
Item 3.
QUALITATIVE AND QUANTITATIVE DISCLOSURE ABOUT MARKET RISK
The Corporation is exposed to market risk from changes in interest rates and
foreign exchange rates. At July 1, 2000, the Corporation had notes payable
outstanding aggregating $60.0 million against lines of credit with banks. These
notes consist entirely of commercial paper and bear interest at floating rates.
Each 1% fluctuation in the interest rate will increase or decrease interest
expense for the Corporation by approximately $600,000 annually. Since
essentially all long-term debt is at fixed interest rates, exposure to interest
rate fluctuations is minimal. Exposure to adverse changes in foreign exchange
rates is considered minimal.
12
<PAGE>
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION
This document includes forward-looking statements. Statements that describe
future expectations, plans, results or strategies are considered
forward-looking. Such statements are subject to certain risks and
uncertainties which could cause actual results to differ materially from
those currently anticipated. Factors that could affect actual results
include, among others, changes in customers' order patterns or demand for
the Corporation's products, the timing and magnitude of orders placed by
Compaq, unanticipated changes in the level of capital expenditures, changes
in interest rates, changes in raw material costs and availability
(especially paper), success with operational start-ups, and general changes
in economic conditions. These factors should be considered in evaluating
the forward-looking statements, and undue reliance should not be placed on
such statements. The forward-looking statements included herein are made as
of the date hereof, and the Corporation undertakes no obligation to update
publicly such statements to reflect subsequent events or circumstances.
PART II: OTHER INFORMATION
Item 4. Submission of Matters to a Vote of Security Holders
At the annual meeting of shareholders held on April 25, 2000, all of the
persons nominated as directors were elected for terms expiring at the 2001
annual meeting. The following table sets forth certain information with
respect to such election:
Shares
Shares Withholding
Name Voted For Authority
---- --------- ---------
Jameson A. Baxter 20,209,691 97,320
Donald D. Belcher 17,418,910 2,888,101
John F. Bergstrom 20,181,022 125,989
Henry T. DeNero 20,211,630 95,381
Richard L. Gunderson 20,176,049 130,962
Gerald A. Henseler 20,219,908 87,103
Bernard S. Kubale 19,971,322 335,689
Raymond C. Richelsen 19,855,649 451,362
Michael J. Winkler 19,855,204 451,807
13
<PAGE>
Item 6. Exhibits and Reports on Form 8-K
(a) Exhibits -
4.1 - Amendment to Note Purchase and Private Shelf Agreement
dated as of May 12, 1994
10.1 - Economic Profit Incentive Compensation Plan, as amended
and restated
10.2 - Economic Profit Long-Term Incentive Compensation Plan, as
amended and restated
27 - Financial Data Schedule (EDGAR version only)
(b) No reports on Form 8-K were filed during the quarter for which
this report is filed
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 thereunto duly authorized.
BANTA CORPORATION
/S/GERALD A. HENSELER
---------------------
Gerald A. Henseler
Executive Vice President, Chief Financial Officer and Treasurer
Date August 15, 2000
---------------
14
<PAGE>
BANTA CORPORATION
EXHIBIT INDEX TO FORM 10-Q
For The Quarter Ended July 1, 2000
Exhibit Number
4.1 - Amendment to Note Purchase and Private Shelf Agreement dated as of
May 12, 1994
10.1 - Economic Profit Incentive Compensation Plan, as amended and restated
10.2 - Economic Profit Long-Term Incentive Compensation Plan, as amended
and restated
27 - Financial Data Schedule (EDGAR version only)
15
