UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 10-Q
XX QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended March 28, 1999
OR
___ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from _________ to _________
Alltrista Corporation
Indiana 0-21052 35-1828377
State of Incorporation Commission File Number IRS Identification Number
5875 Castle Creek Parkway, North Drive, Suite 440
Indianapolis, Indiana 46250-4330
Registrant's telephone number, including area code: (317) 577-5000
--------------------------------------------------------------------------
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
Indicate the number of shares outstanding of each of the issuer's classes of
common stock, as of the latest practicable date.
Class Outstanding at April 25, 1999
------------------------------- -----------------------------
Common Stock, without par value 6,718,133 shares
ALLTRISTA CORPORATION AND SUBSIDIARIES
Quarterly Report on Form 10-Q
For the period ended March 28, 1999
INDEX
Page Number
PART I. FINANCIAL INFORMATION:
Item 1. Financial Statements
Unaudited Condensed Consolidated Statements of Income
for the three month periods ended
March 28, 1999 and March 29, 1998 3
Unaudited Condensed Consolidated Balance Sheets at
March 28, 1999 and December 31, 1998 4
Unaudited Condensed Consolidated Statements of Cash
Flows for the three month periods ended
March 28, 1999 and March 29, 1998 5
Unaudited Statement of Comprehensive Income for the
three month periods ended March 28, 1999 and
March 29, 1998 5
Notes to Unaudited Condensed Consolidated Financial
Statements 6
Item 2. Management's Discussion and Analysis of Financial
Condition and Results of Operations 9 - 11
PART II. OTHER INFORMATION 12
2
PART I. FINANCIAL INFORMATION
Item 1. Financial Statements
ALLTRISTA CORPORATION AND SUBSIDIARIES
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF INCOME
(in thousands except per share amounts)
Three month period ended
------------------------
March 28, March 29,
1999 1998
-------- --------
Net sales $ 51,634 $ 43,126
-------- --------
Costs and expenses
Cost of sales 39,341 32,973
Selling, general and administrative expenses 8,556 7,193
-------- --------
Operating earnings 3,737 2,960
Interest expense, net (568) (401)
-------- --------
Income from continuing operations before taxes 3,169 2,559
Provision for income taxes (1,206) (972)
-------- --------
Income from continuing operations 1,963 1,587
Discontinued operations:
Gain from discontinued operations - 69
Net gain on disposal of discontinued operations 136 -
-------- --------
Net income $ 2,099 $ 1,656
======== ========
Basic earnings per share:
Income from continuing operations $ .29 $ .22
Discontinued operations .02 .01
-------- --------
Net income $ .31 $ .23
======== ========
Diluted earnings per share:
Income from continuing operations $ .29 $ .21
Discontinued operations .02 .01
-------- --------
Net income $ .31 $ .22
======== ========
Weighted average shares outstanding:
Basic 6,749 7,360
Diluted 6,844 7,500
See accompanying notes to unaudited condensed consolidated financial statements.
3
ALLTRISTA CORPORATION AND SUBSIDIARIES
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS
(thousands of dollars)
March 28, December 31,
1999 1999
--------- ------------
ASSETS
Current assets
Cash and cash equivalents $ 2,264 $ 21,454
Accounts receivable, net 31,329 20,907
Inventories
Raw materials and supplies 7,352 8,589
Work in process and finished goods 45,980 29,692
Deferred taxes on income 4,512 4,512
Prepaid expenses 1,857 1,414
--------- ---------
Total current assets 93,294 86,568
--------- ---------
Property, plant and equipment, at cost 151,067 152,706
Accumulated depreciation (103,565) (105,850)
--------- ---------
47,502 46,856
Goodwill, net 24,199 24,548
Other assets 8,291 7,859
--------- ---------
Total assets $ 173,286 $ 165,831
========= =========
LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities
Current portion of long-term debt $ 4,286 $ 4,286
Notes payable 2,900 -
Accounts payable 25,281 20,579
Other current liabilities 13,018 14,780
--------- ---------
Total current liabilities 45,485 39,645
--------- ---------
Noncurrent liabilities
Long-term debt 21,429 21,429
Other noncurrent liabilities 9,920 9,864
--------- ---------
Total noncurrent liabilities 31,349 31,293
--------- ---------
Contingencies
Shareholders' equity:
Common stock (7,967,966 common shares issued and
6,737,254 shares outstanding at March 29, 1998) 40,446 40,494
Retained earnings 86,138 84,039
Accumulated other comprehensive income - cumulative
translation adjustment (509) (619)
--------- ---------
126,075 123,914
Less treasury stock (1,230,712 shares, at cost) (29,623) (29,021)
--------- ---------
Total shareholders' equity 96,452 94,893
--------- ---------
Total liabilities and shareholders' equity $ 173,286 $ 165,831
========= =========
See accompanying notes to unaudited condensed consolidated financial statements.
4
ALLTRISTA CORPORATION AND SUBSIDIARIES
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(thousands of dollars)
Three month period ended
------------------------
March 28, March 29,
1999 1998
---------- ----------
Cash flows from operating activities
Net income $ 2,099 $ 1,656
Reconciliation of net income to net cash used in
operating activities:
Depreciation and amortization 2,634 2,564
Other 18 87
Changes in working capital components (22,745) (16,502)
-------- --------
Net cash used in operating activities (17,994) (12,195)
-------- --------
Cash flows from financing activities
Proceeds from revolving credit borrowings 2,900 2,788
Proceeds from issuance of common stock 258 262
Purchase of treasury stock (910) (4,229)
-------- --------
Net cash provided by (used in) financing activities 2,248 (1,179)
-------- --------
Cash flows from investing activities
Proceeds from sale of property, plant and equipment 866 13
Additions to property, plant and equipment (4,226) (1,830)
Proceeds from divestitures of businesses and product lines 362 -
Investment in insurance contracts (274) (685)
Other (172) (35)
-------- --------
Net cash used in investing activities (3,444) (2,537)
-------- --------
Net decrease in cash (19,190) (15,911)
Cash and cash equivalents, beginning of period 21,454 26,641
-------- --------
Cash and cash equivalents, end of period $ 2,264 $ 10,730
======== ========
ALLTRISTA CORPORATION AND SUBSIDIARIES
UNAUDITED STATEMENTS OF COMPREHENSIVE INCOME
(thousands of dollars)
Three month period ended
------------------------
March 28, March 29,
1999 1998
---------- ----------
Net income $ 2,099 $ 1,656
Foreign currency translation 110 48
-------- --------
Comprehensive income $ 2,209 $ 1,704
======== ========
See accompanying notes to unaudited condensed consolidated financial statements.
5
ALLTRISTA CORPORATION AND SUBSIDIARIES
NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
1. Presentation of Condensed Consolidated Financial Statements
Certain information and footnote disclosures, including significant accounting
policies normally included in financial statements prepared in accordance with
generally accepted accounting principles, have been condensed or omitted. In the
opinion of management, the accompanying condensed financial statements include
all adjustments necessary for a fair presentation of the results for the interim
periods presented. Results of operations for the periods shown are not
necessarily indicative of results for the year, particularly in view of some
seasonality for the home food preservation products. The accompanying unaudited
condensed financial statements should be read in conjunction with the
Consolidated Financial Statements and Notes to Consolidated Financial Statements
of Alltrista Corporation and Subsidiaries included in the Company's latest
annual report.
2. EPS Calculation
Basic earnings per share are computed by dividing net income by the weighted
average number of common shares outstanding for the period. Diluted earnings per
share are calculated based on the weighted average number of outstanding common
shares plus the dilutive effect of stock options as if they were exercised.
A computation of earnings per share is as follows (in thousands except per share
data):
Three month period ended
------------------------
March 28, March 29,
1999 1998
---------- ---------
Income from continuing operations $ 1,963 $ 1,587
Discontinued operations 136 69
-------- --------
Net income $ 2,099 $ 1,656
======== ========
Weighted average shares outstanding 6,749 7,360
Additional shares assuming conversion of stock options 95 140
-------- --------
Weighted average shares outstanding assuming conversion 6,844 7,500
======== ========
Basic earnings per share
Income from continuing operations $ .29 $ .22
Discontinued operations .02 .01
-------- --------
Net income $ .31 $ .23
======== ========
Diluted earnings per share - assuming conversion
Income from continuing operations $ .29 $ .21
Discontinued operations .02 .01
-------- --------
Net income $ .31 $ .22
======== ========
3. Segment Information
The Company is organized into two distinct segments: metal and plastic products.
The metal products segment includes sales of zinc and consumer products. This
segment provides cast zinc strip and fabricated zinc products, primarily zinc
battery cans and coinage. This segment also markets a line of home food
preservation products including home canning jars, jar closures and related food
products, which are distributed through a wide variety of retail outlets. The
plastic products segment produces injection molded plastic products used in
medical, pharmaceutical and consumer products, industrial thermoformed plastic
parts for appliances, manufactured housing and recreational vehicles and
multi-layer plastic sheet and formed containers used in food packaging.
6
ALLTRISTA CORPORATION AND SUBSIDIARIES
NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
Net sales, operating earnings and assets employed in operations by segment are
summarized as follows (thousands of dollars):
Three month period ended
--------------------------
March 28, March 29,
1999 1998
---------- ----------
Net Sales:
Metal products
Consumer products $ 12,380 $ 7,175
Zinc products 13,572 10,984
--------- ---------
Total metal products 25,952 18,159
Plastic products:
Industrial thermoformed parts 9,264 9,169
Injection molded products 9,044 8,553
Plastic packaging 7,727 7,245
--------- ---------
Total plastic products 26,035 24,967
Intercompany (353) -
--------- ---------
Total net sales $ 51,634 $ 43,126
========= =========
Operating earnings:
Metal products $ 1,799 $ 1,170
Plastic products 2,495 2,163
Intercompany (56) -
Unallocated corporate expenses (501) (373)
--------- ---------
Total operating earnings 3,737 2,960
Interest expense, net (568) (401)
--------- ---------
Income from continuing operations before taxes $ 3,169 $ 2,559
========= =========
March 28, December 31,
1999 1998
---------- ------------
Assets employed in operations:
Metal products $ 101,558 $ 76,249
Plastic products 55,697 55,171
--------- ---------
Total assets employed in operations 157,255 131,420
Corporate (1) 16,031 34,411
--------- ---------
Total assets $ 173,286 $ 165,831
========= =========
<FN>
(1) Corporate assets primarily include cash and cash equivalents, amounts
relating to benefit plans, deferred tax assets and corporate facilities and
equipment.
</FN>
4. Contingencies
The Company is subject to and involved in claims arising out of the conduct of
its business including those relating to product liability, environmental and
safety and health matters. The Company's information at this time does not
indicate that the resolution of the aforementioned claims will have a material,
adverse effect upon financial condition, results of operations, cash flows or
competitive position of the Company.
7
ALLTRISTA CORPORATION AND SUBSIDIARIES
NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
5. Subsequent Events
On April 25, 1999, the Company acquired the net assets of Triangle Plastics,
Inc. and its TriEnda subsidiary ("Triangle Plastics") for $148.0 million in cash
plus acquisition costs. The transaction will be accounted for as a purchase.
Triangle Plastics manufactures heavy gauge industrial thermoformed parts for
original equipment manufacturers in a variety of industries, including the heavy
trucking, agricultural, portable toilet, recreational and construction markets.
TriEnda produces plastic thermoformed products for material handling
applications. Triangle Plastics employs approximately 1,100 people and has a
technical center and five production facilities located in Florida, Iowa,
Tennessee and Wisconsin. Triangle Plastics had net sales of $114.1 million in
1998.
The Company financed the acquisition with a new $250 million credit facility
consisting of a six year $150 million term loan and a revolving credit facility
whereby the Company can borrow up to $100 million through March 31, 2005, when
all borrowings mature. The term loan requires quarterly payments of principal
escalating from an annual aggregate amount of $15.0 million in the first year to
$30.0 million in the fifth and sixth year. Interest on the borrowings is based
upon fixed increments over the adjusted London Interbank Offered Rate or the
agent bank's alternate borrowing rate as defined in the agreement. As part of
the transaction, the Company paid off existing debt and incurred a $1.6 million
prepayment charge.
On May 4, 1999, the Company entered into a definitive agreement to sell its
plastic packaging product line, which includes coextrude high-barrier plastic
sheet and containers for the food packaging industry, for $30.0 million in cash,
subject to a net working capital adjustment. Proceeds from the sale will be used
for debt repayment. The transaction is expected to close no later than the end
of May or early June 1999. The sales agreement is subject to a number of closing
conditions. The Company had 1998 plastic packaging sales of $28.1 million.
8
Item 2.
MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF
OPERATIONS
Results of Continuing Operations
The Company reported net sales of $51.6 million for the first quarter of 1999 an
increase of 19.7% from sales of $43.1 million for the same period of 1998.
Operating earnings of $3.7 for the quarter increased 26.3% from $3.0 million in
the first quarter of 1998. Both the metal and plastic products segments reported
increased sales and operating earnings.
Net sales within the metal products segment increased from $18.2 million in the
first quarter of 1998 to $26.0 million in 1999. The introduction of the Golden
Harvest housewares product line added $3.6 million in consumer product sales.
Increased sales volume for home canning products and specialty glassware also
attributed to the increase in sales. The Company anticipates the housewares
product line to contribute approximately $12.0 million in sales for the year. In
April 1999, the Company began selling home canning products in Hungary. It is
still too early to determine the acceptance of the Company's products in this
test market. Sales of copper-plated zinc coins to both the U.S Mint and the
Royal Canadian Mint increased over 1998 adding $3.4 million in sales compared to
the previous year. A reduction in zinc battery can and industrial strip sales
offset, in part, the increase in coinage sales. Although profits were not
impacted, reported sales were also $0.4 million lower as a result of a 4%
decrease in zinc ingot prices. Based upon recent discussions with the U.S. Mint,
the Company anticipates demand for coinage to be higher for the remainder of
1999.
Net sales within the plastic products segment increased from $25.0 million in
the first quarter of 1998 to $26.0 million in 1999 with sales of both plastic
packaging and injection molded products increasing by $0.5 million. Demand for
the Company's retort and rollstock packaging products increased and the
Company's growth strategy for injection molding, launched in 1997, continues to
foster sales growth. Sales of industrial thermoformed parts were essentially the
same as the previous period. Increased sales of refrigerator parts were offset
by lower sales of bath and other products to the manufactured housing and
recreational vehicle industries.
Gross margin percentages increased slightly from 23.5% in the first quarter of
1998 to 23.8% in the first quarter of 1999. The increase in coinage and plastic
packaging sales volume as well as reduced scrap in the plastic packaging
operation attributed to the margin improvement.
Selling, general and administrative expenses increased 18.9% from $7.2 million
in the first quarter of 1998 to $8.6 million in the first quarter of 1999.
Warehousing costs for the new housewares product line and staff additions,
training costs and other expenses in the consumer products operations accounted
for substantially all of the increase.
Interest expense, net in the first quarter of 1999 was $0.6 million compared to
$0.4 million for the same period last year. The increase in net expense was
primarily due to less interest earned on lower short-term investments. The
Company's effective tax rate increased slightly from 38.0% in the first quarter
of 1998 to 38.1% in the first quarter of 1999.
Income from continuing operations of $2.0 million increased 23.7% from $1.6
million in the first quarter of 1998. Diluted earnings per share from continuing
operations was $0.29, a 38.1% increase from the $0.21 reported in the first
quarter of 1998. Diluted weighted average shares outstanding decreased from
7,500,000 in the first quarter of 1998 to 6,844,000 in 1999 due to the Company
purchasing its common stock in the open market. The reduction in shares
outstanding added $0.03 to diluted earnings per share.
9
Financial Condition, Liquidity and Capital Resources
Working capital (excluding the current portion of long-term debt and notes
payable) increased $3.8 million from $51.2 million at year-end 1998 to $55.0
million at March 28, 1999. Accounts receivable increased $10.4 million on strong
sales across most product lines. Inventory and accounts payable increased $15.1
million and $4.7 million, respectively, primarily due to the addition of the
housewares product line and the customary seasonal home canning activity.
Short-term borrowings increased $2.9 million to fund seasonal working capital
requirements.
Capital expenditures were $4.2 million in the first quarter of 1999 compared to
$1.8 million in for the same period in 1998 and are largely related to
maintaining facilities and improving manufacturing efficiencies. First quarter
1998 investments included new injection molding machines, upgrading an existing
plating line and an investment in a new high precision slitting line for zinc
products and improvements made to consumer product assembly lines and
information systems.
In January 1999, the Company exited its plastic plant in Arecibo, Puerto Rico.
The plant was shut down on schedule with costs in line with the amount reserved
in 1998. Taking into account the cash proceeds from the sale of certain
equipment, tax benefits and costs paid, the Company expects the transaction to
provide approximately $1.3 million in cash.
On March 23, 1999, the Company's board of directors approved the repurchase of
up to 500,000 shares of the Company's common stock. Although the Company is
undertaking an aggressive growth strategy, Company management believes a share
repurchase program is a good use of funds at current price levels. In addition
to this program, the Company has a policy to annually repurchase shares to
offset the dilutive effect of shares issued under employee benefit plans.
On April 25, 1999, the Company acquired the net assets of Triangle Plastics,
Inc. and its TriEnda subsidiary ("Triangle Plastics") for $148.0 million in cash
plus acquisition costs. The transaction will be accounted for as a purchase.
Triangle Plastics manufactures heavy gauge industrial thermoformed parts for
original equipment manufacturers in a variety of industries, including the heavy
trucking, agricultural, portable toilet, recreational and construction markets.
TriEnda produces plastic thermoformed products for material handling
applications. Triangle Plastics employs approximately 1,100 people and has a
technical center and five production facilities located in Florida, Iowa,
Tennessee and Wisconsin. Triangle Plastics had net sales of $114.1 million in
1998.
The Company financed the acquisition with a new $250 million credit facility
consisting of a six year $150 million term loan and a revolving credit facility
whereby the Company can borrow up to $100 million through March 31, 2005, when
all borrowings mature. The term loan requires quarterly payments of principal
escalating from an annual aggregate amount of $15.0 million in the first year to
$30.0 million in the fifth and sixth year. Interest on the borrowings is based
upon fixed increments over the adjusted London Interbank Offered Rate or the
agent bank's alternate borrowing rate as defined in the agreement. As part of
the transaction, the Company paid off existing debt and incurred a $1.6 million
prepayment charge. The Company believes that existing funds, cash generated from
operations and the new debt facility are adequate to satisfy its working capital
and capital expenditure requirements for the foreseeable future. However the
Company may raise additional capital from time to time to take advantage of
favorable conditions in the capital markets or in connection with the Company's
corporate development activities.
On May 4, 1999, the Company entered into a definitive agreement to sell its
plastic packaging product line, which includes coextrude high-barrier plastic
sheet and containers for the food packaging industry, for $30.0 million in cash,
subject to a net working capital adjustment. Proceeds from the sale will be used
for debt repayment. The transaction is expected to close no later than the end
of May or early June 1999. The sales agreement is subject to a number of closing
conditions. The Company had 1998 plastic packaging sales of $28.1 million.
The Company is subject to and involved in claims arising out of the conduct of
its business including those relating to product liability, environmental and
safety and health matters. The Company's information at this time does not
indicate that the resolution of these claims will have a material adverse effect
upon financial condition, results of operations, capital expenditures or
competitive position of the Company.
10
The Company continues to assess its exposure to potential Year 2000 issues
within its businesses. The assessment includes information technology (IT),
non-information technology (non-IT), and customer and vendor readiness. Non-IT
systems include computer-controlled devices with embedded technology such as
microcontrollers. Phases within the process include assessment, remediation,
testing and implementation. With respect to each of the divisions, the Company's
assessment phase for both IT and non-IT has been completed. Through the
assessment process, the Company has identified certain financial and
manufacturing systems that are not Year 2000 ready. The Company has plans to
replace or upgrade these systems with remediation, testing and implementation to
be completed no later than October 1999. The largest undertaking is an
enterprise-wide system implementation in the Company's consumer product
operation. As a contingency plan to the new enterprise-wide system, steps are
being taken to modify the existing code for the current manufacturing, inventory
and financial systems. The failure of the Company to properly assess and
remediate Year 2000 problems and test or implement solutions could result in
disruptions of normal business operations. Such failures could have a material
adverse effect upon the financial condition, results of operations, cash flows
or competitive position of the Company.
The Company has incurred less than $300,000 in costs to date directly associated
with the remediation of its own systems. Management believes future Year 2000
assessment and remediation costs will be less than $300,000. The Company intends
to fund any necessary Year 2000 assessment and remediation costs from internal
financial resources. These costs do not include the cost of upgrading or
replacing systems for other business reasons. Such measures usually provide the
additional benefit of making the systems Year 2000 compliant.
The assessment of customers and suppliers for Year 2000 readiness ranges from
50% to 100% complete across the Company's businesses as of April 1999. The
assessment of third parties is scheduled to be complete no later than June 1999.
The assessments include third party electronic interfaces. Several suppliers
have not yet responded to the Company's inquiries. Follow-up correspondence is
being conducted. Other suppliers have disclosed varying degrees of compliance
issues but indicate they have plans and procedures in place to become compliant.
In all cases, alternate supply sources exist and are available should any of
these suppliers not be Year 2000 ready. The Company currently is not aware of
any significant customer or supplier with a Year 2000 issue that will materially
impact the Company's financial condition, results of operations, cash flows or
competitive position. However, the Company has no means of ensuring that
customers or suppliers will be Year 2000 ready. The inability of other entities
to be prepared could have a material adverse effect on the Company.
While the Company has not fully completed its assessment process, it is not
expected that Year 2000 issues will have a material adverse effect on the
Company. However, it is possible that, for example, disruptions in the economy
generally or interruptions in the Company's manufacturing processes because of
Year 2000 problems could adversely affect the Company's results of operations,
liquidity and financial condition.
This Quarterly Report on Form 10-Q includes certain "forward-looking statements"
within the meaning of Section 27A of the Securities Act of 1933 and Section 21E
of the Securities Exchange Act of 1934. Those statements include, but may not be
limited to, discussions regarding expectations of future sales and
profitability, anticipated demand for the Company's products and expectations
regarding operating and other expenses. Reliance on forward-looking statements
involves risks and uncertainties. Although the Company believes that the
assumptions upon which the forward-looking statements contained herein are based
are reasonable, any of those assumptions could prove to be inaccurate. As the
result, the forward-looking statements based on those assumptions could also be
incorrect. Please see the Company's Report on Form 8-K, dated June 10, 1997, for
a list of factors which could cause the Company's actual results to differ
materially from those projected in the Company's forward-looking statements.
11
PART II. OTHER INFORMATION
Item 6. Exhibits and Reports on Form 8-K
a. Exhibits
3.1 Form of Bylaws of Alltrista Corporation
4.1 Form of Rights Agreement Dated March 22, 1993 and as Amended
and Restated as of May 7, 1999
27 Financial Data Schedule [EDGAR filing only]
b. Reports on Form 8-K
The Company announced it had entered into a definitive agreement to acquire the
assets of Triangle Plastics, Inc. and of its subsidiary, TriEnda Corporation in
a Form 8-K (Commission File Number 0-21052) dated March 16, 1999.
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.
Alltrista Corporation
-------------------------
(Registrant)
Date: May 11, 1999 By: /s/ Kevin D. Bower
------------- -------------------------
Kevin D. Bower
Senior Vice President and
Chief Financial Officer
12
ALLTRISTA CORPORATION AND SUBSIDIARIES
QUARTERLY REPORT ON FORM 10-Q
March 28, 1999
EXHIBIT INDEX
Exhibit Description Page
- ------- ----------------------------------------- --------------
3.1 Form of Bylaws of Alltrista Corporation 14
4.1 Form of Rights Agreement Dated as of March 22, 1993
and as Amended and Restated as of May 7, 1999 23
27 Financial Data Schedule [EDGAR filing only]
13