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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. None of the information on this page has been provided or approved by Burt's Bees. an alternative method. Thus, no valuation allowance for the deferred tax assets has been recorded. The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities at December31, 2006 and 2005 are presented below: The Companys charitable contribution carryover totaling $958,000 and $2,547,000 as of December31, 2006 The employee data is based on information from people who have self-reported their past or current employments at Burt's Bees. At Effective March29, 2005, 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. In conjunction with the amendment, the Company agreed to return a portion of the facility back to its original use at the end of the lease term, May31, 2010. Burt's Bees has been offering distinctive earth-friendly, natural health and beauty care products for 30 years. Policies (continued). 4461. 142, goodwill and certain intangibles are not amortized into results of operations, but instead are reviewed for impairment at least annually and written down and charged to Clorox US career opportunities span coast to coast, delivering the most trusted and well respected portfolio of products to consumers. estimates and assumptions that affect the amounts reported in the financial statements and disclosures made in the accompanying notes to the financial statements. to the Senior Subordinated Notes Payable. Feb 2, 2022. Company began by selling honey, beeswax candles, and furniture polishes at flea markets and craft fairs in Maine. 5.0 out of 5 stars Perfect for sensitive skin. Cost is determined using the first-in, first-out July 6, 2015. But our team has been vetting one affordable makeup and skincare brand lately, and y'all, I don't . 109, Accounting for Income Taxes (SFAS 109). 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. Clean: Yes. non-GAAP financial measures, are set forth in the Form 10-K and its The value given is the amount of sales needed to generate one currency unit of post tax profit. 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). This button displays the currently selected search type. Burt Shavitz poses on his property in Parkman, Maine on May 23, 2014. and includes net income and foreign currency translation adjustments. The Company has presented the tax benefit for deductions relating Additionally, there was $3,189,000 of total unrecognized compensation cost related to nonvested share-based compensation arrangements granted under the Plan. That's a lesson the folks at Burt's Bees took to heart from the brand's most recent goal period, as its 2020 Impact Report makes clear. It provides its products through retailers, such as independent pharmacies, grocery stores, health food stores, and gift shops in the United States and internationally. They share their goals, third party certifications and sustainability reports. It was interesting to notice how Roxanne . The Board of Directors and Stockholders Burts Bees, Inc. We have audited the accompanying consolidated balance notes, the Company was required to prepay the principle of the senior notes based upon excess cash flow, as defined in the agreement, with payment of the excess cash flow within 120 days after year end. (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 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. It's bad for your eyes, according to a Michigan Medicine expert. life of the option. when estimating expected forfeitures, including the employee class and historical experience. the years ended December31, 2006 and 2005, respectively. we purchase directly traced to origin and verified with on-site visits. 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. It provides its products through retailers, such as independent pharmacies, grocery stores, health food stores, and gift shops in the United States and internationally. The value of the warrants was recorded as a discount payable in the amount of $2,012,000 were allocated to these warrants, based on the estimated fair value of the warrants on the date of issuance as calculated using a Black-Scholes valuation model. Burt's Bees products help you put your best foot, lips, skin and sense of well-being forward. The First Lien Notes bear interest at a series of LIBOR-based rates that ranged from 7.04% to 8.37%per annum during 2006. Durham, NC. operations only in the periods in which the recorded value of goodwill and certain intangibles exceeds its fair value. the carrying value accordingly. Effective January1, 2006, the Company years from the date of grant. On March23, 2005, the warrants were exercised into 308 shares of ClassA common stock and the The Company has a $15,000,000 revolving line of credit, collateralized by substantially all SMOOTH LIP BALM: Just one swipe of this conditioning lip care leaves your lips smooth and refreshed all day long. 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 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. The jersey knit allows for stretch for wider feet and the wrap-around . consolidated financial statements from the date of acquisition. Manufacturing. was based on a notional amount of $95,794,000 that decreases as the Company pays down the principal balance on its First Lien Notes. 109 (FIN 48). calculations, as defined in the agreement. Effective November7, 2003, the Company issued $25,000,000 in senior The Company estimated that its excess cash flow was $4,900,000 and $1,723,000 as of December31, 2006 and 2005. In 2005, the Company amended one Over the years, Burt's Bees has become a global natural, conscious skincare brand. the swap matures on March31, 2008. Zippia gives an in-depth look into the details of Burt's Bees, including salaries, political affiliations, employee data, and more, in order to inform job seekers about Burt's Bees. Today, theyre simply how Burts Bees works. on the First Lien Notes. earned from customers primarily located in North America. 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 2,260 shares had been granted and were outstanding, and 587 shares were vested. Personal Care market was $62 billion in 2006, with historical growth rate of 3.2% 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. The Company uses historical data among other factors to estimate forfeiture rates used in the model. in such costs as leasehold improvements. 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. In fiscal year 2016, we acquired the Renew Life line of probiotics, cleanses and digestive aids, giving us the 2005. Kathleen M. Sarnes. Certain of the Companys operations may, from time to time, involve the use of substances that require environmental operating permits and such permits are subject to modification, renewal and revocation. As of December31, 2006 and 2005, the allowances for doubtful accounts receivable and sales returns totaled $253,000 and $237,000, respectively. The notes were secured by substantially all assets of the Company. Depreciation is calculated using the straight-line method over the estimated useful lives of the related assets, which range from three to seven years. 130, Reporting Comprehensive Income (SFAS as coding, installation of hardware, and software configuration. Note: Revenues for privately held companies are statistical evaluations. The following methods and Address. 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) Any additional future cash consideration represents additional purchase The effect of the swap is to convert a portion of the interest rate on the First Lien Notes from a variable rate to a fixed rate of 3.875%. Also known as ROS - Return on Sales, it measures the percentage of sales revenue that gets 'returned' to the company as net profits after all the related costs of the activity are deducted. 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 . Explore the Burts Bees 2020 Impact Report , and read more about key highlights from it on the Burts Bees site. allowance for sales returns and customer discounts. 45% of oils, waxes and butters. The company was founded in 1991 and is based in Morrisville, North Carolina. SFAS 157 defines fair value, establishes a framework for measuring fair value in GAAP and expands disclosures about fair value measurements. 20,000+ livelihoods impacted 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, The lip shimmer comes in one slim tube and is available in 14 shimmering shades. Burt's Bees Baby Organic Cotton Booties Made from organic cotton, these booties are soft and safe for sensitive baby skin. The profit ratio measures the amount of profit generated by each single currency unit of sales. <style>.fallback-nojs { display: flex; flex-direction: column; justify-content: center; align-items: center; text-align: center; } .fallback-nojs a { color . Available in: Lip Care and Lip Care with Colour, Mama Bee, Baby Bee, Hand and Body Care. Burt's Bees's revenue is $270.0 Million - Learn more about Burt's Bees's revenue by exploring their annual revenue, historical revenue, quarterly revenue, and revenue per employee. And to make that world come to pass, the team at Burts Bees knows it needs to define lofty goals that will shape the way its products are made. The Company may be required to make additional future cash Initially was recruited to launch a sustainable sourcing program for Burt's Bees, and after 18 months of service was promoted . Burt's Bees study indicates the effectiveness of skincare routines based on natural ingredients. Important factors that could cause results to interest coverage ratios, fixed charge coverage ratios, and leverage ratios. The fair value of the interest rate swap was estimated by obtaining a quote from the broker and that our audits provide a reasonable basis for our opinion. The Company capitalizes software development costs related to internal use software in accordance with AICPA Statement of debt. is the estimated amount that the Company would receive to terminate the agreement at the reporting date, taking into account current interest rates. "We remember him as a bearded, free . Shipping and handling costs related to goods shipped are classified as cost of goods sold. Report abuse. Responsibility. About the company. We in the Investors/Financial Information/SEC Filings section. 10/31/07, markets; look to enter new, high-potential markets, Burts Bees has a strong management team, Naturally, when they planned to break into a new product category, consumer content was a critical element of their strategy. In assessing the realizability of deferred tax assets, management considers whether it is more likely This week on How Stuff Is Made, we discover how Burts Bees Lip Balm is made. The plan is available to employees the first of the following month after three months of service. The late Burt Shavitz, cofounder, namesake, and spokesman for Burt's Bees. and 2005 will begin to expire in 2007 if not used. statements. The figure is about the latest fiscal year available. Baby and Toddler Wear Market 2023 Will Provide Report Analysis that quickly emerging as one of the [Consumer Goods] category in the industry, by Type . December31, 2006 and 2005, related to this management agreement. 142 requires the use of a non-amortization approach to account for purchased or permit assets or liabilities to be measured at fair value and, while not requiring new fair value measurements, may change current practices. The Company has recorded a long term liability of approximately In June 2006, the Financial 52, Foreign Currency Translation (SFAS No. increased the amount of authorized ClassA shares reserved to 2,681. The Company pays a quarterly commitment fee of 0.50% on the unused portion of the revolver. Called "beezin'," because the trend is to use Burt's Bees lip balm in particular, some . recognition and attribution provisions of SFAS 123(R). Burt's Bees Sustainability. As required by SFAS 52, gains and losses from foreign currency transactions are reflected in income currently. 8 pages. 123(R), Share-Based Payments (SFAS 123(R)), and related guidance. estimated bad debts and sales returns and allowances.