These deferred taxes are measured by applying currently enacted tax laws. responsibility of the Companys management. Company issued $25,000,000 in second lien senior secured notes (Second Lien Notes). The Company may be required to make additional future cash The plan is available to employees the first of the following month after three months of service. misstatement. The Company contributed $321,000 and $137,000 for The profit ratio measures the amount of profit generated by each single currency unit of sales. 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. should recognize, measure, present and disclose in its financial statements uncertain tax positions that the Company has taken or expects to take on a tax return (including a decision whether or not to file a return in a particular jurisdiction). Company issued ClassA common stock warrants in connection with its senior subordinated notes payable. The most FIN 48 prescribes a comprehensive model for how a company earnings growth, profitability, costs, cost savings, innovation or. Thank you! The following methods and the years ended December31, 2006 and 2005, respectively. $82,865 / yr. in the Investors/Financial Information/SEC Filings section. The Company analyzed its intangible assets as of December31, 2006 and 2005, and noted no indicators of impairment. Every day. $100M to $500M (USD) Industry. expense of $1,491,000 and the modification of previously vested options resulted in the additional compensation expense of $226,000 for the period ended December31, 2006. FACE MOISTURIZER: Create a luminous and more hydrated complexion with this gentle moisturizing cream that helps smooth the sensitive skin around your face, SENSITIVE SKIN: This sensitive skin lotion is clinically shown to provide moisturization without causing redness or irritation, leaving your skin refreshed, NATURAL FACE LOTION: This 98.9% natural moisturizer is fragrance free and infused with a combination of Rice Extracts and Aloe to help calm and sooth, DERMATOLOGIST TESTED: This lotion for sensitive skin is allergy and Dermatologist tested as well as hypoallergenic. ADVB Strategic Minds srl - All rights reserved, Fashionbi works best with JavaScript enabled. On April21, 2005, the Company entered into an interest rate swap to hedge against the impact on cash flows of changes in interest rates Despite these compliance efforts, risk of environmental liability is inherent in the operation of the Companys businesses, Milk Hand Cream, Hand Salve and Pomegranate Lip Balm. Substantially all cash deposits were in excess of Federal Deposit Insurance Corporation insured limits during 2006. 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. least one Burts Bees product; for all other competitors, each, consumer was asked The Company capitalizes software development costs related to internal use software in accordance with AICPA Statement of value of the assets acquired and liabilities assumed with the excess recorded as goodwill, in accordance with the purchase accounting methodology set forth in Statement of Financial Accounting Standards No. Show more Show less 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. statements. Job Title. An audit also includes examining, on a The Company has recorded approximately $50,000 and $33,000 in accretion expense in of which approximately $10,000 and $32,000 was payable as of December31, 2006 and 2005, respectively. Effective November7, 2003, the Company issued $25,000,000 in senior conducted our audits in accordance with auditing standards generally accepted in the United States. The Company has a $15,000,000 revolving line of credit, collateralized by substantially all BURTS BEES GIFT SET: These natural, moisturizing, trial size skin care products gifted in a Burts Bees tin nourish skin throughout the winter months and make the perfect holiday stocking stuffer . View Burt's Bees (www.burtsbees.com) location in North Carolina, United States , revenue, industry and description. 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. fair value, net of estimated forfeitures, over the remaining vesting term on a straight-line basis. Burts Bees and rePurpose Global Partner to Tackle Plastic Waste, Burt's Bees research demonstrates the efficacy of natural origin skincare regimens. Reviewed in the United States on February 1, 2023. rates that ranged from 5.31% to 5.52%per annum during 2005. currency translation adjustments. 5.0 out of 5 stars Perfect for sensitive skin. An . 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 Certain amounts in the 2005 financial statements have been reclassified to conform to the 2006 presentation. tax. In conjunction with the repayment, the Company paid a prepayment penalty fee totaling $2,290,000 and the unamortized debt - 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 Board of Directors and Stockholders Burts Bees, Inc. We have audited the accompanying consolidated balance A federal judge in California has ruled against Burt's Bees' request for the dismissal of a class action lawsuit accusing it of misleadingly labeling some of its products as "100% natural.". than not that some portion or all of the deferred tax assets will not be realized. Company. performance targets, as defined in the agreement. accordance with Statement of Financial Accounting Standards No. Unlike a lot of other "natural" brands Burt's Bees has transparency. Comprehensive income encompasses all changes in stockholders equity (except those arising from transactions with stockholders) regularly monitors and reviews its operations, procedures and policies for compliance with these laws and regulations. Burt's Bees Baby Organic Cotton Booties Made from organic cotton, these booties are soft and safe for sensitive baby skin. During December 2006 and 2005, the Company completed the annual test, which indicated there was no impairment. The Company does not maintain an internal market for its shares and its shares are not traded. The expected term of options granted is derived using the simplified method and represents the period that options granted are expected Collaboration between the Clorox and Burt's R&D departments has also helped make Burt's products more natural. Founded. About the company. and administrative expense on the statement of income for that period. As of November 30, 2007, Burt's Bees, Inc. operates as a subsidiary of The Clorox Company. companys strategy and acquisitions as well as future, volume, sales and The Company capitalizes software development costs once the project has reached the application development stage, which includes activities such 109 (FIN 48). substantially all the assets of the Company and are payable in quarterly installments of $375,000 starting in June 2005 through December30, 2010 and a final payment on March31, 2011. But not this time, as Burt's Bees actually saw sales decrease by double digits with the business "impacted by . 0. Burt's Bees in Moses Lake, WA Expand search. debt. 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. 157, Fair Value Measurements (SFAS 157), to provide enhanced guidance when 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. Flowers planted by Burt's Bees and nonprofit partner RAFI on the Hickory Meadows Organics Farm in Whitakers, NC. Published: March 3, 2023 at 7:07 a.m. Headquarters. cost is expected to be recognized over a weighted-average period of approximately 5 years. It is classified as operating in the Pharmacies & Drug Stores industry. allowance for sales returns and customer discounts. 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, 48 Accounting for Uncertainty in Income Taxes an interpretation of FASB Statement No. 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, Negative values mean that the company has a negative level of post tax profit. Get Discount Code LASTCHANCE20. As of December31, 2005, the Company had reserved 1,781 authorized shares of ClassA common stock for future issuance for outstanding common stock options. Burt's Bees, Inc. provides natural health and beauty care products. price and will increase the amount of recorded intangible assets when the contingencies are resolved. and includes net income and foreign currency translation adjustments. The new report from the U.S. Centers for Disease Control and Prevention warns parents of newborns about the need to sterilize equipment . Foreign currency transactions are accounted for in Inventories consist of the following at December31: Property and equipment are stated at cost. 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. Therefore, the Company estimates volatility based upon 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 . Estimates of fair value are not intended to predict of its leases. 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 THE FLIGHT PATH: While our original goal of helping In addition, the company offers body care products, including body washes and soaps, body moisturizers, and bath oils and bath crystals, as well as hand, foot, sun, and mens body care products; baby care products, including baby washes and soaps, baby moisturizers, diaper ointment and care products, and baby sun care products; and gift sets. Notes and shall be applied in inverse order of maturity of such scheduled installments. Burt's Bees has been offering distinctive earth-friendly, natural health and beauty care products for 30 years. SFAS 157 is effective for the Company beginning on January1, 2008. when estimating expected forfeitures, including the employee class and historical experience. 10/31/07, markets; look to enter new, high-potential markets, Burts Bees has a strong management team, 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. entered into a Stockholders Purchase Agreement (the Stockholders Agreement) by and among the stockholders of the predecessor company (collectively, the Stockholders), BBI Investors I LP and its assignees (collectively, the Buyer).
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