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): October 24, 2001
(October 24, 2001)
Furniture Brands International, Inc.
(Exact name of Registrant as specified in charter)
Delaware I-91 43-0337683
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(State of Incorporation) (Commission (IRS Employer
File Number) Identification Number)
101 South Hanley Road, St. Louis, Missouri 63105
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(Address of principal executive offices)
(314) 863-1100
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(Registrant's telephone number)
Item 5. Other Matters
On October 24, 2001, the Company announced operating results for the third
quarter and first nine months of 2001.
Net sales for the third quarter were $448.7 million, off 10.2% from the
third quarter in 2000. For the nine months, net sales were $1,414.5 million, a
decrease of 11.4% from the same period in 2000.
Net earnings for the third quarter were $13.9 million or $0.27 per diluted
common share. Restructuring charges related to the realignment of selected
domestic manufacturing operations totaled $1.2 million (net of an income tax
benefit of $0.6 million) or $0.02 per common share. Excluding these
restructuring charges, the company's net earnings would have been $15.1 million,
or $0.29 per common share. Net earnings for the nine months were $35.2 million,
or $0.69 per common share. Excluding all asset impairment and other
restructuring charges, net earnings for the nine-month period would have been
$49.4 million, or $0.96 per common share.
Excluding noncash charges for depreciation and amortization related to a
1992 asset revaluation (most of which will no longer be required beginning next
year due to a recent change in accounting rules) and the asset impairment and
other restructuring charges, the Company would have reported diluted net
earnings per common share of $0.34 for the third quarter and $1.11 for the nine
months.
The Company also announced that its current projection for earnings per
share in the fourth quarter is 34 to 39 cents and for full-year 2001 is in the
$1.30 to $1.35 range.
Item 7. Financial Statements and Exhibits
(c) Exhibits
99 Press Release, dated October 24, 2001
SIGNATURE
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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.
Furniture Brands International, Inc.
By: /s/ Steven W. Alstadt
Steven W. Alstadt
Controller and Chief Accounting Officer
Dated: October 24, 2001