1
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):
February 15, 2001
- --------------------------------------------------------------------------------
Brown-Forman Corporation
- --------------------------------------------------------------------------------
(Exact name of registrant as specified in its charter)
Delaware 1-123 61-0243150
- --------------------------------------------------------------------------------
(State or other (Commission (I.R.S. Employer
jurisdiction File Number) Identification No.)
of incorporation)
850 Dixie Highway, Louisville, Kentucky 40210
- --------------------------------------------------------------------------------
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (502) 582-1601
---------------------------
2
Item 9.
By press release dated February 15, 2001, Brown-Forman announced
earnings for the quarter ended January 31, 2001, as well as a conference call to
discuss the earnings release. An audio broadcast of the conference call is
available via Brown-Forman's Internet web site (http://www.brown-forman.com).
A copy of the press release issued publicizing these earnings and the
related conference call is filed herewith as Exhibit 99.
Factors Affecting Forward-Looking Statements:
The earnings release and the conference call described in this filing may make
forward-looking statements related to our anticipated financial performance,
business prospects, new products, and similar matters. We make several such
statements in the discussion and analysis which follows, but we do not guarantee
that the results indicated will actually be achieved. The Private Securities
Litigation Reform Act of 1995 provides a safe harbor for forward-looking
statements. To comply with the terms of the safe harbor, we note that the
following non-exclusive list of important risk factors could cause our actual
results and experience to differ materially from the anticipated results or
other expectations expressed in those forward-looking statements:
Generally: We operate in highly competitive markets. Our business is subject to
changes in general economic conditions, changes in consumer preferences, the
degree of acceptance of new products, and the uncertainties of litigation. As
our business continues to expand outside the United States, our financial
results are more exposed to foreign exchange rate fluctuations and the health of
foreign economies.
Beverage Risk Factors: The U.S. beverage alcohol business is highly sensitive to
tax increases; an increase in the federal excise tax (which we do not anticipate
at this time) would depress our domestic beverage business. Our current outlook
for our domestic beverage business anticipates continued success of Jack
Daniel's Tennessee Whiskey, Southern Comfort, and our other core wine and
spirits brands. Current expectations for our foreign beverage business could
prove to be optimistic if the U.S. dollar strengthens against other currencies
or if economic conditions deteriorate in the principal countries to which we
export our beverage products, including the United Kingdom, Germany, Japan, and
Australia. The wine and spirits business, both in the United States and abroad,
is also sensitive to political and social trends. Legal or regulatory measures
against beverage alcohol (including its advertising and promotion) could
adversely affect sales. Product liability litigation against the alcohol
industry, while not currently a major risk factor, could become significant if
new lawsuits were filed against alcohol manufacturers. Current expectations
for our global beverage business may not be met if consumption trends do not
continue to increase. Profits could also be affected if grain or grape prices
increase.
Consumer Durables Risk Factors: Earnings projections for our consumer durables
segment anticipate a continued strengthening of our Lenox and Hartmann
businesses. These projections could be offset by factors such as poor consumer
response to direct mail, a soft retail environment at outlet malls,
3
further department store consolidation, or weakened demand for tableware,
giftware and/or leather goods.
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 hereunto duly authorized.
Brown-Forman Corporation
-------------------------------------------
(Registrant)
February 15, 2001 /s/ Roger Shannon
- ---------------------------- -------------------------------------------
(Date) Roger Shannon, Assistant Treasurer