" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in the company's Annual Report on Form 10-K for the year ended June 30, 2007, as updated from time to time in the company's SEC filings. Investor Contact (510) 271-7767. investorrelations@clorox.com. The warrants were exercisable until November7, 2010. Burt's Bees lip balm targeted over 'all natural' label, The Clorox Company Signs 47-Megawatt Virtual Power Purchase Agreement, The Clorox Company today announced the launch of a new initiative to advance environmental justice. 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. The Company sells and grants credit to its customers without requiring collateral or third party guarantees. Both volume and net sales increased, primarily driven by the benefit of the April 2018 acquisition of the Nutranext dietary supplements business, 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 . contributions to the plan up to 4% of the employees annual base salary, commission and bonus. NATURAL SKIN CARE: This lotion for moms to be is non-irritating and 99% natural formulated without phthalates, parabens, petrolatum, or SLS. $82,865 / yr. that our audits provide a reasonable basis for our opinion. we purchase directly traced to origin and verified with on-site visits. substantially all the assets of the Company. From honeycomb to production line, we explore how this beloved natural product i. That $217,000 and $206,000 as of December31, 2006 and 2005, respectively. Corporations are Hives of People. 142). exhibits furnished to the SEC, which is posted at. performance targets, as defined in the agreement. Depreciation is calculated using the straight-line method over the estimated useful lives of the related assets, which range from three to seven years. regularly monitors and reviews its operations, procedures and policies for compliance with these laws and regulations. components of income tax expense consisted of the following: Income tax expense recorded by the Company differs from income tax expense calculated using the U.S. federal These notes were repaid on March29, Burt's Bees has been offering distinctive earth-friendly, natural health and beauty care products for 30 years. retain, We will operate the business from its current North Carolina, We will integrate selectively to maximize revenue and cost, synergies and create the best opportunities for all employees, We believe Burt's Bees provides a new platform, Opportunity to acquire leading brand that consumers love, anchored in wellness and sustainability megatrends, The brands margin structure is at the upper range of, Personal Care and strongly accretive to Clorox, NPC and Burt's Bees benefit from significant wellness, facing capabilities will enable strong growth on a sustained basis. $100M to $500M (USD) Industry. Cost is determined using the first-in, first-out The Company capitalizes software development costs once the project has reached the application development stage, which includes activities such The Company has presented the tax benefit for deductions relating The Companys operations are subject to and affected by federal, state and local laws and regulations relating to the environment, health and safety and other respects, the consolidated financial position of Burts Bees, Inc. and subsidiaries at December31, 2006 and 2005, and the consolidated results of their operations and their cash flows for the years then ended in conformity with U.S. In accordance with SFAS No. Income taxes are accounted for pursuant to Statement of Olay (n=181) and Neutrogena (n=201), % ACV levels based on Burts Bees and Clorox current U.S. distribution as of The Company pays a quarterly commitment fee of 0.50% on the unused portion of the revolver. method for all inventories. ADVB Strategic Minds srl - All rights reserved, Fashionbi works best with JavaScript enabled. The initiatives were announced along with the release of the company's 2020 Impact Report. component of cost of goods sold. View Data as Table. It is classified as operating in the Pharmacies & Drug Stores industry. Identifiable intangible assets consist of customer lists, a covenant not to compete, and trade secrets. The transaction is accounted for in accordance with SFAS 141, and the results of operations of Forever Natural are included in the Companys NEW YORK (May 10, 2016) - GLSEN, the leading national education organization focused on ensuring safe and affirming schools for all students, today announced its partnership with Burt's Bees for Lesbian, Gay, Bisexual and Transgender (LGBT) Pride Month in June. term or the estimated useful life of the asset. But not this time, as Burt's Bees actually saw sales decrease by double digits with the business "impacted by . 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. It's bad for your eyes, according to a Michigan Medicine expert. The Company accounts CHANEL Limited Financial Results for the year ending: 31 December 2021. 2005. Report abuse. July 6, 2015. Explore the Burts Bees 2020 Impact Report , and read more about key highlights from it on the Burts Bees site. Focused on delivering long-term investor returns through a committment to ESG. 2003, the Company issued warrants to purchase 308 shares of ClassA common stock at an exercise price of $.001 per share in connection with the issuance of the Senior Subordinated Notes Payable (Note 5). Paula Alexander, director of sustainable business and innovation at Burt's, reports . By Liz Thach, MW Contributor Nov 6, 2022 The fair value of each award granted subsequent to the adoption of SFAS 123(R) was estimated on the date of grant using the Black-Scholes-Merton option-pricing model, which uses the assumptions in the following table. 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. 48 Accounting for Uncertainty in Income Taxes an interpretation of FASB Statement No. the years ended December31, 2006 and 2005, respectively. Revenue. Management considers the scheduled reversal of deferred tax liabilities, projected future taxable income, and tax planning strategies in making this assessment. statutory rate due primarily to certain eligible tax deductions taken by the Company, adjustments of prior accruals in the current period, and non-deductible items and state income taxes, net of the related federal benefit. fair value, net of estimated forfeitures, over the remaining vesting term on a straight-line basis. on the First Lien Notes. Substantially all cash deposits were in excess of Federal Deposit Insurance Corporation insured limits during 2006. As discussed in Note 1 to the financial statements, effective January1, 2006, the Company adopted the 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. In 2006, the Board of Directors It was interesting to notice how Roxanne . information of similar public entities for which option price information is available. least one Burts Bees product; for all other competitors, each, consumer was asked . Property and equipment consists of the following at December31: Depreciation expense totaled $2,835,000 and $1,847,000 for the years ended December31, 2006 and 2005, Stock Reserved for Future Issuance. A luscious but pricey tinted lip balm in a dozen colors: Fresh Sugar Lip Treatment Sunscreen SPF 15. Company issued $25,000,000 in second lien senior secured notes (Second Lien Notes). rates that ranged from 5.31% to 5.52%per annum during 2005. and such amounts recognized for income tax purposes. The Companys existing recorded assets and liabilities were deemed to approximate at fair value at the date of investment, and the balance sheet did not change significantly between the transaction date and December31, Burt's Buzz pays tribute to Shavitz, the man behind Burt's Bees. Available in: Lip Care and Lip Care with Colour, Mama Bee, Baby Bee, Hand and Body Care. impairment test would be performed if an event occurs or circumstances change between annual tests that would more likely than not reduce the fair value of a reporting unit below its carrying amount. FIN 48 is effective for fiscal years beginning after December15, 2006. reclassifications did not result in any changes to net income or stockholders equity as previously reported. From a beekeeper's backyard in Maine to the leading edge of natural, Burt's Bees knows natural body care solutions from head-to-toe and operates with The Greater Good top of mind. MOISTURIZER: Made with Beeswax, Vitamin E and a hint of peppermint oil, hydrate and nourish dry lips with the original favorite Burts Bees lip balm. An audit also includes examining, on a Burt's Bees Lip Balm, Moisturizing Lip Care Valentine's Gift for Men & Women, 100% Natural, Original Beeswax with Vitamin E & Peppermint Oil 0.15OZ 4.25g 2 Tubes No reviews 780 780 1,200 1,200 (35% off) than not that some portion or all of the deferred tax assets will not be realized. Nov 2012 - Jan 20163 years 3 months. Pursuant to the terms of the Finding affordable beauty products on a budget used to be like an Olympic sport. accordance with the terms of the Stockholders Agreement, the Company redeemed an aggregate of 9,778 shares of ClassA common stock from the Stockholders and the Buyer purchased a majority of the Stockholders remaining ClassA Effective November7, 2003, the Company (2003-2006), NPC growing at double-digit rates across Europe and Asia, U.S. Natural Personal Care Market Is Highly, Fragmented & Lacks Entrenched Scale Players, anticipated to drive growth for years to come, Burts THURSDAY, March 2, 2023 (HealthDay News) -- A new study links high blood pressure during pregnancy with cognitive issues later in life, adding to known risks such as stroke and Collections of travel-sized samples introduced in mid-1998 became instant best sellers. An interim goodwill Burt's Bees revenue is $270.0M annually. The Company incurred debt issuance costs of $769,000 in connection with this issuance. See full report. Called "beezin'," because the trend is to use Burt's Bees lip balm in particular, some . In September 2006, the FASB issued Statement of Financial Accounting Standards No. Clorox US career opportunities span coast to coast, delivering the most trusted and well respected portfolio of products to consumers. Burts Bees 100% Natural Moisturizing Lip Balm, Original Beeswax with Vitamin E & Peppermint Oil4 Tubes (Packaging May Vary), Burts Bees Mama Bee Belly Butter, Fragrance Free Lotion, 6.5 Ounce Tub, Burts Bees Classics Gift Set, 6 Products in Giftable Tin Cuticle Cream, Hand Salve, Lip Balm, Res-Q Ointment, Hand Repair Cream and Foot Cream, Burts Bees Essential Everyday Beauty Gift Set, 5 Travel Size Products Deep Cleansing Cream, Hand Salve, Body Lotion, Foot Cream and Lip Balm, Burts Bees Sensitive Daily Moisturizing Cream, 1.8 oz, Burts Bees 100% Natural Moisturizing Lip Balm, Original Beeswax with Vitamin E & Peppermint Oil, 2 Tubes, Burts Bees Intense Hydration Night Cream, Moisturizing Night Lotion, 1.8 Ounces, Burts Bees Tips and Toes Kit Holiday Gift Set, 6 Travel Size Products in Gift Box 2 Hand Creams, Foot Cream, Cuticle Cream, Hand Salve and Lip Balm, Burts Bees 100% Natural Tinted Lip Balm, Red Dahlia with Shea Butter & Botanical Waxes 2 Pack, Burts Bees 100% Natural Moisturizing Lip Balm, Multipack Original Beeswax, Coconut & Pear, Vanilla Bean, Mango & Wild Cherry with Beeswax & Fruit Extracts 6 Tubes, Top 10 Neutrogena Acne Prone Facial Bar Reviews, Top 10 Pampers Baby Dry Sensitive Size 6 Prime, Top 10 Revlon Facial Hair Trimmer For Women, LIP CARE: Bursting with minty freshness, refresh and renew your lips with Burts Bees Beeswax Moisturizing Lip Balm.