with foreign operations as the applicable local currency. including the, ability to increase distribution; the companys success It was interesting to notice how Roxanne . year ended December31, 2006 and 2005 totaled $0 and $72,000, respectively. 52). Amortization for the year ended December31, 2005 totaled $72,000. Burts Bees's Annual Report & Profile shows critical firmographic facts: The Company accounts The Company estimated that its excess cash flow was $4,900,000 and $1,723,000 as of December31, 2006 and 2005. attached document, including, statements about the success of the An interim goodwill consolidated financial statements from the date of acquisition. 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 . Consumers who have purchased natural personal care in the last 12 months: Please rate each of the following brands on a scale of 1 to 7, where 1 is not at all, Burts Bees Has Superior Attribute Ratings, Source: Clorox Commissioned US Consumer Survey (n=1022), care products, on a scale of 1 to 7, where 1 is not at all important and 7 is extremely, Note: Burts Bees performance asked of all consumers who indicated they have purchased at The company was founded in 1991 and is based in Morrisville, North Carolina. 4.6 4.6 out of 5 stars (485) $9.99 $ 9. Depreciation is calculated using the straight-line method over the estimated useful lives of the related assets, which range from three to seven years. In addition, the Company reimburses an affiliate of a stockholder for certain administrative costs which totaled approximately $50,000 and $89,000 in 2006 and 2005, respectively, Description of Business and Summary of Significant Accounting Policies, Burts Bees, Inc. (the Company) is a manufacturer of natural personal care products. compete is as follows for the years ended December31 (in thousands): On November7, 2003, the Company entered into a management agreement with an affiliate of a stockholder of the Company. become deductible. 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). Burt's Bees peak revenue was $270.0M in 2021. 2003. For purposes of performing the goodwill Burt's Bees has long recognized the importance of authentic consumer-generated content, using it as a crucial component of its marketing strategy since partnering with Bazaarvoice in 2009. fair value, net of estimated forfeitures, over the remaining vesting term on a straight-line basis. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences 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. Burt's Bees Natural Vitality CALM Neocell Rainbow Light RenewLife. Interest payments on the notes were due quarterly and principal was payable on November7, 2010. Our commitment to corporate responsibility guides the business decisions we make. The notes are secured by an alternative method. The accompanying consolidated financial statements include the accounts of Burts Bees, Inc., and its wholly owned subsidiaries including Burts Bees International Holdings Inc., the wholly owned parent company of Burts Bees issued by the Burt's Bees Foundation to protect biodiversity and reconnect people to nature. The Fig shade has a dark coral hue with just the right amount of natural looking color and shimmer. Our commitments to social and environmental sustainability. to frontline workers and vulnerable populations at the onset of COVID-19. differ materially, from managements expectations are described in the Initially, I had some trepidation about painting bees on the side of Burt's Bees Global Headquarters - the historic Hill Building at the American Tobacco Campus in downtown Durham, NC. We believe Sarah has an unyielding work ethic, and a passion and dedication to the brands she manages. If you have difficulty accessing any content, feature or functionality on our website or on our other electronic platforms, please call us at 1-800-849-7112 and select option #2 so . The notes bore interest at a series of LIBOR-based In a single month, Burt's Bees normally makes close to $22.5M in revenue. SKIN CARE PRODUCTS: Pamper from head to toe with this giftable set including Lemon Butter Cuticle Cream, Hand Salve, Original Beeswax Lip Balm, Res-Q Ointment, Shea Butter Hand Repair Cream and Coconut Foot Cream, FEET: Pamper and soothe dry, rough, cracked skin with moisturizing hand salve, cuticle cream, hand cream and rich foot cream, LIP MOISTURIZER: Made with Beeswax, Vitamin E and a hint of peppermint oil, hydrate and nourish dry lips with the original favorite lip balm, MULTIPURPOSE OITNMENT: This gentle Res-Q Ointment is made with a blend of herbal ingredients to create an everyday salve that soothes and comfort dry skin and minor cuts, BURTS BEES GIFT SET: These natural, moisturizing skin care products gifted in a Burts Bees tin nourish skin throughout the winter months and make the perfect holiday stocking stuffer, SKIN CARE PRODUCTS: Pamper from head to toe with this giftable set including 5 travel size Burts Bees favorites: Soap Bark and Chamomile Deep Cleansing Cream, Hand Salve, Milk &, Honey Body Lotion, Coconut Foot Cream and Beeswax Lip Balm, FEET: Coconut Foot Cream and Beeswax Hand Salve restore, dry skin to moisturize and soften hands and feet, FACE: Soap Bark and Chamomile Deep Cleansing Cream, Milk and Honey Body Lotion and Beeswax Lip Balm moisturize lips, face and body, ALL NATURAL: Made with natural ingredients, these Burts Bees skin care trial products are formulated to condition and hydrate skin all day long. 99 ($3.33/count) buy 5 to get 5% off. The Company sells and grants credit to its customers without requiring collateral or third party guarantees. Adjustments resulting from the translation of the Companys subsidiaries financial statements from its functional currency to the United States dollar are not included in As of December31, 2006, additional cash consideration of $200,000 was accrued based on the achievement of established 2006 financial Collaboration between the Clorox and Burt's R&D departments has also helped make Burt's products more natural. The Burt's Bees was the leading lip balm/treatment brand in the United States in 2019, generating sales of over 140 million U.S. dollars in that year. ET. payments of up to $600,000 to Forever Natural based on the achievement of certain annual financial performance measures of the acquired business through December31, 2008. The Company is currently evaluating the impact SFAS 157 will have on its consolidated financial 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. years from the date of grant. companys ability to achieve the projected, strategic and financial But our team has been vetting one affordable makeup and skincare brand lately, and y'all, I don't . Manufacturing. recognition and attribution provisions of SFAS 123(R). tax. assets of the Company, which was unused in 2006. 2023 The Clorox Company. Price: $11. In 2005, the Company amended the plan whereby the Company will match 100% of the first 3% and 50% of the next 2% of the employee A tropical-smelling lip balm for daily use: Supergoop Play Lip Balm SPF 30 with Acai. FIN 48 is effective for fiscal years beginning after December15, 2006. The assumptions for the Black-Scholes-Merton model used in determining the fair value of options granted to employees for the year ended December31, 2006 were: The option-pricing model uses a forecast of the volatility of the Companys common stock during the expected Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material sheets of Burts Bees, Inc. and subsidiaries as of December31, 2006 and 2005, and the related consolidated statements of income, stockholders equity and cash flows for the years then ended. The plan is available to employees the first of the following month after three months of service. A luscious but pricey tinted lip balm in a dozen colors: Fresh Sugar Lip Treatment Sunscreen SPF 15. Prior to adoption, the Company used the It includes the overall revenue of the company, considering not only the sales of finished goods, but all of the sources of the company income. These options have an exercise price of $8,360 per share, generally a graded vesting period of five years or 20% vested per year, and generally an expiration date ten Thats a lesson the folks at Burts Bees took to heart from the brands most recent goal period, as its 2020 Impact Report makes clear. 52, Foreign Currency Translation (SFAS No. While we have made attempts to ensure that the information displayed are correct, Zippia is not responsible for any errors or omissions or for the results obtained from the use of this information. 31 December 2020. of its leases. beverage option than sugary drinks; and the Burt's Bees brand, which offers high-quality natural personal care products to nourish the face and body. The Company has presented the tax benefit for deductions relating Substantially all cash deposits were in excess of Federal Deposit Insurance Corporation insured limits during 2006. Both volume and net sales increased, primarily driven by growth in Burt's Bees Natural Personal Care, mainly due to continued strength in lip care and face care largely driven by product innovation and distribution gains, and higher shipments of Brita water-filtration systems due to product innovation. 123(R), Share-Based Payments (SFAS 123(R)), and related guidance. Formulated without parabens, phthalates . Shop our selection of Burt's Bees natural personal care products, including skin care products, lip balms, lip colour products, soaps, lotions, natural baby products, and more. Believe in Better 30-Day Price Match Guarantee Customer Service: 1-888-991-2299. BURTS BEES GIFT SET: These natural, moisturizing, trial size skin care products gifted in a Burt's Bees tin nourish skin throughout the winter months and make the perfect holiday stocking stuffer . The bad debt allowance is recorded as a reduction of accounts receivable on the balance sheet and the provision recorded for an accounting period is recognized as an increase in selling, general
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