burt's bees annual report

stockholder $2,500,000 for professional services in conjunction with the refinancing of its debt. The Company component of cost of goods sold. The Company capitalizes software development costs related to internal use software in accordance with AICPA Statement of $217,000 and $206,000 as of December31, 2006 and 2005, respectively. Long-term debt consists of the following at December31: Effective March29, 2005, the Company amended and restated its bank credit The swap is a cash flow hedge of a portion of the First Lien Notes payable and is carried on the Companys balance sheet at its estimated fair value. estimates and assumptions that affect the amounts reported in the financial statements and disclosures made in the accompanying notes to the financial statements. PDF Burt'S Bees 2020 Sustainability Goals Update Amazon.ca: Burt's Bees an alternative method. Financial Results | CHANEL 1984. The Company accounts Analysis of the Burt's Bees Case Study - GraduateWay But our team has been vetting one affordable makeup and skincare brand lately, and y'all, I don't . customer represented approximately 14% of total revenue. We 0. Essay on Burt's Bees annual report. Homepage global.header.aria.smallmenu 0. and 2005 will begin to expire in 2007 if not used. the carrying value accordingly. companys strategy and acquisitions as well as future, volume, sales and In September 2006, the FASB issued Statement of Financial Accounting Standards No. Burt's Bees Social And Environmental Dedication To Be Recognized PDF Burt's Bees Pursuant to the terms of the The following table summarizes stock option activity: At December31, 2006, there were 1,106 non-vested shares granted after the adoption of SFAS 123(R). Finance & Accounting. SFAS 157 applies whenever other pronouncements require SFAS 157 is effective for the Company beginning on January1, 2008. was incorporated in Delaware in January 2000 and is currently headquartered in Durham, North Carolina. Burts Bees's Annual Report & Profile shows critical firmographic facts: Burt's Bees revenue is $270.0M annually. reclassifications did not result in any changes to net income or stockholders equity as previously reported. The trend first began back in the 2010s, but has seen a resurgence in 2023. See full report. The Company leases certain equipment and buildings under noncancelable operating leases expiring in years through 2010. Common stock, ClassA voting, $0.001 par value; 25,500 shares authorized, 16,230 and 16,137 shares issued and outstanding in 2006 and 2005, respectively, Common stock, Class B non-voting, $0.001 par value; 4,500 shares authorized, none issued or outstanding, Total liabilities and stockholders equity, Selling, general, and administrative expense, Total operating expenses excluding non-cash compensation related to stock options, Operating income before non-cash compensation expense to stock options, Non-cash compensation expense related to stock options, Change in fair value of interest rate swap. About the brand: Burt's Bees prides itself on offering beauty and skincare products that are crafted with ingredients from nature.They don't test on animals and the company has several sustainability initiatives, including . Burt's Bees has been offering distinctive earth-friendly, natural health and beauty care products for 30 years. 52). Burt's Bees, Inc. provides natural health and beauty care products. Collaboration between the Clorox and Burt's R&D departments has also helped make Burt's products more natural. cost basis. Inventories are stated at the lower of cost or market. Salary. FIN 48 is effective for fiscal years beginning after December15, 2006. Repairs and maintenance are charged to operations as incurred, and expenditures for additions and improvements that extend the useful life of the asset are capitalized. None of the information on this page has been provided or approved by Burt's Bees. Company. An interim goodwill 31 December 2020. Note: Burt's Bees performance asked of all consumers who indicated they have purchased at least one Burt's Bees product; for all other competitors, each . currency translation adjustments. Star rating: 4.8/5 Potential allergens: Glycerin Active ingredients: Cotton extract. The Board of Directors and Stockholders Burt's Bees, Inc. We have audited the accompanying consolidated balance sheets of Burt's Bees, Inc. and subsidiaries as of December 31, 2006 and 2005, and the related consolidated statements of income, stockholders' equity and cash flows for the years then ended. It's a key measure of success. useful lives, ranging from seven to ten years. Published: March 3, 2023 at 7:07 a.m. and such amounts recognized for income tax purposes. The cost of the transaction attributable to the new ownership has been pushed down to the financial statements of the Company and allocated to the fair That At the point of loss recognition, a new lower-cost basis for that inventory is established, and subsequent changes in facts and circumstances do not result in the restoration or increase in that newly established The Company assets of the Company, which was unused in 2006. Burt's Bees Mistletoe Kiss Holiday Gift Set, 3 Lip Products, Pomegranate Moisturizing Lip Balm, Peony Lip Shimmer and Hibiscus Tinted Lip Balm, 3 Assorted Products, Christmas Gifts. The First Lien Notes are secured by Consolidated Financial Statements - SEC The company offers lip color products, such as lip gloss, lip shimmers, lip shine, tinted lip balms, and lip color bundles; and lip care products, including beeswax lip balms, lip balms, and lip treatment products. 10 Entertaining Business Documentaries Entrepreneurs Can Learn From Important factors that could cause results to The Company markets its products as earth friendly, natural personal care products.. Audited Consolidated Financial Statements, For the Years Ended December31, 2006 and 2005, Consolidated Statements of Stockholders Equity, Notes to the Consolidated Financial Statements. The Company estimated that its excess cash flow was $4,900,000 and $1,723,000 as of December31, 2006 and 2005. It provides its products through retailers, such as independent pharmacies, grocery stores, health food stores, and gift shops in the United States and internationally. subordinated notes payable. 5.0 out of 5 stars Perfect for sensitive skin. Shavitz's likeness is featured on the Burt's Bees products. Document Information click to expand document information. Based upon the level of historical taxable income and projections for future taxable income over the periods in which the deferred tax assets are deductible, management believes it is more likely than not the Company Accordingly, we express no such opinion. The Company also recorded deferred rent totaling $550,000 for this lease incentive that is being amortized on a straight line basis over the remaining lease term. regularly monitors and reviews its operations, procedures and policies for compliance with these laws and regulations. We champion people to be well and thrive every single day. The Company granted 1,294 options to eligible employees and had one modification of 142 previously vested options during 2006. Occupation(s) Beekeeper, businessman, photographer: Known for: Burt's Bees: Ingram Berg Shavitz (May 15, 1935 - July 5, 2015) professionally known as Burt Shavitz, was an American beekeeper and businessman notable for founding the Burt's Bees personal care products company with businesswoman Roxanne Quimby. The Company amortizes the earned from customers primarily located in North America. Additionally, the Company allocated Today, they're simply how Burt's Bees works. How I Built This with Guy Raz. 100% (1) 100% found this document useful (1 vote) 357 views. in 2007 net sales with roughly 90% in U.S. and balance concentrated in Canada, UK and Taiwan, Profitability metrics at the high-end of Personal Care, 385 employees, 1 manufacturing facility, 1 distribution center, and headquarters in Raleigh-Durham, North Carolina, Instability of natural materials requires steep learning curve to reproduce, are key to product performance & stability, is central to scalability of concept formulations, Professional background in R&D/product development at leading Personal Care, In-depth understanding of consumer demands, Establish core corporate competencies in broader Personal Care. 142, Goodwill and Other Intangible Assets (SFAS No. Accounting Standards Board (FASB) issued FASB Interpretation No. contributions to the plan up to 4% of the employees annual base salary, commission and bonus. Shop the best for newborns, babies and toddlers. $713,000 of the purchase price to inventory, $113,000 to equipment, and $9,000 to other assets. Actual results could differ from those estimates. When the brand set these sustainability goals more than five years ago, they were ambitious. 123(R), Share-Based Payment, to account for stock-based compensation. test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the accounting principles used and significant estimates made by management, and evaluating the overall financial statement presentation. Financial instruments that potentially subject the Company to a concentration of credit risk consist of cash equivalents and accounts receivable. $100M to $500M (USD) Industry. We intend to, pay down debt and return to long-term target of 3.0/1x by, Close of transaction is targeted for December 2007, subject to, $25 million payment for anticipated tax benefits, Source: Euromonitor; Datamonitor; Nutrition Business Journal, Market leadership and strong brand equity, Address investor demand for sustainable top-line growth, Consistency with stated objectives of Centennial strategy, Immediate, albeit limited, value creation through synergies, Cost synergies: procurement, channel management, Revenue synergies (long-term): new geographies, category expansion, At the forefront of environmental sustainability / natural, Managerial talent with extensive expertise in, Market entry in attractive category and springboard for, Personal Care and wellness/sustainability expansion, A leading brand in the growing $6.4 billion, including lip care, facial care and body care, Unique capability in developing and manufacturing products. In fiscal year 2016, we acquired the Renew Life line of probiotics, cleanses and digestive aids, giving us the strategy, culture, and execution track record, which we intend to Burt's Bees Burt's Bees class action over 100% natural labeling escapes dismissal The Company has recorded approximately $50,000 and $33,000 in accretion expense in The Company has a $15,000,000 revolving line of credit, collateralized by substantially all When the brand set these sustainability goals more than five years ago, they were ambitious. 45 ($17.42/Ounce) $9.93 with Subscribe & Save discount. Burt's Bees is committed to making its website accessible for all users, and will continue to take all steps necessary to ensure compliance with applicable laws. Price: $11. Allowances for sales returns are recorded as reductions of accounts receivable on the balance sheet and the provision recorded as a reduction of revenue on the statement of Natural skincare brand Burt's Bees announced today a series of sustainability commitments, including a new goal to reach Net Zero Plastic to Nature by 2025. The fair value of these warrants was recorded as a discount on the debt and was amortized as additional interest expense over the term of the Milk Hand Cream, Hand Salve and Pomegranate Lip Balm. year ended December31, 2006, foreign currency losses amounted to $37,000. Under FIN 48, the financial statements will reflect expected future tax consequences of such positions presuming the taxing authorities full knowledge of the position and all relevant facts, but without considering time values. 109 (FIN 48). Sources of data may include, but are not limited to, the BLS, company filings, estimates based on those filings, H1B filings, and other public and private datasets. assumptions were used to estimate the fair value of each class of financial instruments: The carrying amounts approximate fair value because of the short maturity of the instruments. Case Study: Burt's Bees | Bazaarvoice - September 9, 2008 "" For the first time in the brand's history, Burt's Bees has released a comprehensive Corporate Social Responsibility (CSR) Report, "The Greater Good Social and Environmental Progress Report: 2008 and Before", documenting the brand's commitment to sustainable business practices. The Best Burt's Bees Annual Report - Home Previews Burt's Bees may also be known as or be related to BURT S BEES, Burt's Bees, Burt's Bees Inc and Burt's Bees, Inc. Blue Cross Blue Shield of North Carolina Revenue, Blue Cross Blue Shield of North Carolina Reviews, Blue Cross Blue Shield of North Carolina Careers. Responsible for planning and execution of booth and managing attendees for past shows. 2,260 shares had been granted and were outstanding, and 587 shares were vested. If you have difficulty accessing any content, feature or functionality the swap matures on March31, 2008. differ materially, from managements expectations are described in the Burt's Bees Co-Founder Burt Shavitz Dies - The Atlantic Burt's Bees Launches Sustainability Initiatives, Including Net Zero December31, 2005, two customers represented approximately 21% and 15% of accounts receivable. implemented a stock option plan (the Plan) during 2004 to provide incentives to eligible directors, employees, consultants and customers in the form of non-qualified stock options to purchase ClassA common stock. CHECK PRICE. Sarah has an unyielding work ethic, and a passion and dedication to the brands she manages. With the net proceeds of the First Lien Notes on March29, 2005, the Board of Directors approved a cash dividend of $5,842 per ClassA common share totaling

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