UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of report (Date of earliest event reported): January 8, 2004
Rayovac Corporation
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(Exact Name of Registrant as Specified in its Charter)
Wisconsin 001-13615 22-2423556
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(State or Other Jurisdiction (Commission (IRS Employer
of Incorporation) File Number) Identification No.)
601 Rayovac Drive Madison, WI 53711
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(Address of Principal Executive Offices) (Zip Code)
(608) 275-3340
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Registrant's telephone number,
including area code
Not Applicable
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(Former Name or Former Address, if Changed Since Last Report)
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits.
(c) Exhibits.
99.1 Press Release dated January 8, 2004 issued by Rayovac Corporation.
Item 12. Results of Operations and Financial Condition.
The following information, including the Exhibit attached hereto, is being
furnished pursuant to this Item 12 and shall not be deemed "filed" for purposes
of Section 18 of the Securities Exchange Act of 1934, as amended, nor shall it
be deemed incorporated by reference in any filing under the Securities Act of
1933, as amended, except as shall be expressly set forth by specific reference
in such filing.
On January 8, 2004, Rayovac Corporation issued a press release discussing its
estimated financial results for its first fiscal quarter ended December 29,
2003. A copy of the press release is furnished as Exhibit 99.1 to this report.
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SIGNATURE
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 hereunto duly authorized.
RAYOVAC CORPORATION
Date: January 8, 2004 By: /s/ Randall J. Steward
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Name: Randall J. Steward
Title: Executive Vice President and
Chief Financial Officer
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EXHIBIT INDEX
Exhibit Description
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99.1 Press Release dated January 8, 2004 issued by Rayovac Corporation.
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Exhibit 99.1
Rayovac Raises Quarterly Projections
MADISON, Wis., Jan. 8 /PRNewswire-FirstCall/ -- Rayovac Corporation
(NYSE: ROV) today announced financial results for its fiscal 2004 first
quarter ended December 29, 2003 will be stronger than initially anticipated.
Current company estimates expect diluted earnings per share of between
62 cents and 65 cents for the quarter versus a previous estimate of between
58 cents and 62 cents. The company now expects sales of approximately
$454 million for the first fiscal quarter, an 11 percent year-over-year growth
compared to pro forma sales for F'03 including Remington.
This improved performance is based on stronger than expected sales growth
in all three geographic regions, along with favorable sales of Remington
Products, which was acquired in September 2003.
The sales improvement was driven by improving alkaline sales in the U.S.,
foreign currency strength in Europe and some improvement in Latin American
business conditions. Remington also realized favorable year over year sales
growth due in part to the rollout of its new men's and women's shaving
products.
The company will be hosting its first quarter fiscal 2004 conference call
on Thursday, January 22, 2004 at 9:30 a.m. (EST).
Rayovac Corporation is a global consumer products company with a diverse
portfolio of world-class brands, including Rayovac, VARTA and Remington. The
Company holds many leading market positions including: the world's leader in
hearing aid batteries; the top selling rechargeable battery brand in North
America and Europe; and the number one selling brand of men's and women's foil
electric razors in North America. Rayovac markets its products in more than
100 countries and trades on the New York Stock Exchange under the ROV symbol.
Certain matters discussed in this news release, with the exception of
historical matters, are forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995. These statements are subject
to a number of risks, uncertainties and other factors that could cause results
to differ materially from those anticipated as of the date of this release.
Actual results may differ materially from these statements as a result of (1)
changes in external competitive market factors, such as introduction of new
product features or technological developments, development of new competitors
or competitive brands or competitive promotional activity or spending, (2)
changes in consumer demand for the various types of products offered by
Rayovac or Remington, (3) changes in the general economic conditions where we
do business, such as stock market prices, interest rates, currency exchange
rates, inflation and raw material costs, (4) our ability to successfully
implement manufacturing, distribution and other cost efficiencies and (5)
various other factors, including those discussed herein and those set forth in
Rayovac's and Remington's most recent Form 10-Q, Annual Report on Form 10-K
and the Registration Statement on Form S-4/A for Rayovac's most recent
offering of its senior subordinated notes.
SOURCE Rayovac Corporation
-0- 01/08/2004
/CONTACT: John Daggett of Rayovac Corporation, +1-608-275-4912/
/Photo: http://www.newscom.com/cgi-bin/prnh/20020716/ROVLOGO
AP Archive: http://photoarchive.ap.org
PRN Photo Desk, +1-888-776-6555 or +1-212-782-2840/
/Web site: http://www.rayovac.com /
(ROV)
CO: Rayovac Corporation
ST: Wisconsin
IN: CHM ECP HOU
SU: ERP CCA