8-K: Current report filing
Published on February 8, 2001
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of report (Date of earliest event reported):
February 7, 2001
PAPA JOHN'S INTERNATIONAL, INC.
(Exact name of registrant as specified in its charter)
DELAWARE 61-1203323
(State or other jurisdiction of (I.R.S. Employer identification
incorporation or organization) number)
2002 PAPA JOHN'S BOULEVARD
LOUISVILLE, KENTUCKY 40299-2334
(Address of principal executive offices)
(502) 261-7272
(Registrant's telephone number, including area code)
ITEM 5. OTHER EVENTS
On February 7, 2001, Papa John's International, Inc. announced a restructuring
of its management team. Following a meeting of its Board of Directors today, the
company announced its realignment into four key groups - Operations,
Administration, Development and Resource/Support, each reporting to CEO John
Schnatter. As a part of this restructuring, Dru Milby, Senior Vice President,
Chief Financial Officer and Treasurer, is leaving the company.
The company also announced that the special charge that the company will take in
its fourth quarter ended December 31, 2000, principally under Statement of
Financial Standards No. 121, "Accounting for the Impairment of Long-Lived Assets
and for Long-Lived Assets to be Disposed Of," will now approximate $22 to $28
million, exceeding the company's previously announced estimate of $10 to $14
million. The final amount and details of the special charge will be included in
the company's fourth quarter earnings release scheduled for February 27, 2001.
The company also announced that it expects 2001 earnings in the range of $1.85
to $2.15 per share (before the impact of any share repurchases during 2001).
Additional guidance for 2001 will be provided with the company's fourth quarter
earnings release, and the company intends to narrow its projected 2001 earnings
range as warranted as the year proceeds.
This summary of the attached press release is qualified in its entirety by the
complete text of such document, a copy of which is attached hereto as Exhibit
99.1.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
(c) Exhibit 99.1 Press Release dated February 7, 2001.
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.
PAPA JOHN'S INTERNATIONAL, INC.
(Registrant)
Date: February 8, 2001 /s/ J. David Flanery
--------------------
J. David Flanery
Vice President of Finance
and Principal Accounting
Officer
EXHIBIT INDEX
EXHIBIT NO.
99.1 Press Release dated February 7, 2001