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): June 10, 2002 (June 10, 2002)
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 June 10, 2002, the Company announced that it expects earnings for the
current quarter to be in line with previous estimates of $0.53 to $0.57 per
share on a diluted basis. The Company is maintaining its expectation range of
$2.35 to $2.42 per share on a diluted basis for the full year.
Item 7. Financial Statements and Exhibits
(c) Exhibits
99 Press Release, dated June 10, 2002.
SIGNATURE
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: June 10, 2002
<page>
INFORMATION
101 South Hanley Road
St. Louis, Missouri 63105
314-863-1100
FOR IMMEDIATE RELEASE
FURNITURE BRANDS INTERNATIONAL COMMENTS ON
OUTLOOK FOR SECOND QUARTER AND FULL YEAR 2002
St. Louis, Missouri, June 10, 2002 - Furniture Brands International (NYSE: FBN),
announced today it expects earnings for the current quarter to be in line with
previous estimates of $0.53 to $0.57 per share on a diluted basis.
W.G. (Mickey) Holliman, Chairman, President and Chief Executive Officer, said,
"Since the beginning of the year we have seen order strength in the middle- and
upper-middle price categories, particularly at Lane and more recently at
Broyhill. These trends continue and both are having a strong quarter. We
continue to believe business at the high end will improve throughout the second
half but have yet to see meaningful year over year favorable comparisons at
Thomasville, Henredon and Drexel Heritage."
Mr. Holliman concluded, "We remain encouraged by the solid performance of the
Company's middle- and upper-middle segments and remain optimistic of a second
half rebound for the high end. We are currently projecting diluted earnings per
share in the $0.53 to $0.57 range for the second quarter and we are maintaining
our full-year expectation range of $2.35 to $2.42. We will provide further
guidance upon the issuance of our second quarter results on July 24, 2002."
Furniture Brands International is America's largest home furnishings
manufacturer, manufacturing and sourcing its products under six of the
best-known brand names in the industry - Broyhill, Lane, Thomasville, Henredon,
Drexel Heritage and Maitland-Smith. The Company markets its products across a
broad spectrum of price categories and distributes its products through an
extensive system of independently owned national, regional and local retailers.
This release contains forward-looking statements within the meaning of the "safe
harbor" provisions of the Private Securities Litigation Reform Act of 1995.
These forward-looking statements include the company's expected earnings per
share, the prospects for the overall business environment, and other statements
containing the words "expects," "anticipates," "estimates," "believes," and
words of similar import. The company cautions investors that any such
forward-looking statements are not guarantees of future performance and that
certain factors may cause actual results to differ materially from those in the
forward-looking statements. Such factors may include: overall business and
economic conditions and growth in the furniture industry; changes in customer
spending patterns and demand for home furnishings; competitive factors, such as
design and marketing efforts by other furniture manufacturers; pricing
pressures; success of the marketing efforts of retailers and the prospects for
further customer failures; the company's success in furniture design and
manufacture; the effects of manufacturing realignments and cost savings
programs; and other risk factors listed from time to time in the company's
public releases and SEC reports, including but not limited to the most recent
reports on Forms 10-Q and 10-K. The company also cautions investors that our
forecast for the second quarter and the year 2002 represent our outlook only as
of this date, and we undertake no obligation to update or revise any
forward-looking statements, whether as a result of new developments or
otherwise.