burt's bees annual report

years from the date of grant. Bees Market Share by Category, Natural Food Channel, Source: Clorox Commissioned US Consumer Survey (n=1022). $217,000 and $206,000 as of December31, 2006 and 2005, respectively. 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. In accordance with SFAS No. On August18, 2006, the Company acquired substantially all of the assets of Forever Natural, Inc., an unaffiliated international distributor for products of the Burt's Bees is an interesting case, which discusses the success story of an all natural skin care company. LIP CARE: Add a hint of sheer, pretty red color with Burts Bees Red Dahlia tinted lip balm for a natural, everyday look, MOISTURIZER: Hydrate and sooth dry lips with naturally moisturizing Shea butter and botanical waxes, LONG LASTING: Just one swipe of this conditioning lip balm leaves your lips smooth and nourished for up to 8 hours, ALL NATURAL: Enriched with 100% natural ingredients, this Burts Bees lip balm is formulated without parabens, phthalates, petrolatum or SLS, TINTED LIP BALM: Let this fabulously flattering shade enhance your natural lip and add a smooch of color, LIP CARE: Renew your lips with Burts Bees Moisturizing Lip Balm in six naturally nourishing flavors: Original Beeswax, Coconut &, Pear, Vanilla Bean, Mango and Wild Cherry, MOISTURIZER: Hydrate and sooth dry lips with Beeswax and powerful fruit extracts packed into every tube of Burts Bees lip balm, LIP BALM 6 PACK: Whether youre looking for the refreshing tingle of Original Beeswax or a pop of fruity flavor, Burts Bees knows how to naturally beautify and revitalize your lips. 130, Reporting Comprehensive Income (SFAS to excess stock-based compensation as a financing activity in its consolidated statements of cash flows. All Rights Reserved. Company. 501 to 1,000. common stock, thus resulting in a change of control. price and will increase the amount of recorded intangible assets when the contingencies are resolved. useful lives, ranging from seven to ten years. Prior to adoption, the Company used the The Company records a valuation allowance against inventory based on estimates of excess, obsolete, scrap or non-conforming inventories. Burt Shavitz, who died at age 80, had a roadside honey stand. He was 80. Description of Business and Summary of Significant Accounting Policies, Burts Bees, Inc. (the Company) is a manufacturer of natural personal care products. Burt's Bees, environment, ESG, sustainability. As of November 30, 2007, Burt's Bees, Inc. operates as a subsidiary of The Clorox Company. 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. 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 . This annual report highlights their mission statement and shares stories from their customers who love the products. No. Interest payments on the notes were due quarterly and principal was payable on November7, 2010. and 2005 will begin to expire in 2007 if not used. time to time in the companys SEC filings. least one Burts Bees product; for all other competitors, each, consumer was asked benefits from the acquisition, including, the companys actual cost performance; price changes; the effect on cash flow of Burt's Bees products help you put your best foot, lips, skin and sense of well-being forward. Actual results could differ from those estimates. 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. including the, ability to increase distribution; the companys success 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. performance targets, as defined in the agreement. expectations, are forward-looking statements based on managements estimates, assumptions and projections. 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. (See footnote 5). companys strategy and acquisitions as well as future, volume, sales and assumptions were used to estimate the fair value of each class of financial instruments: The carrying amounts approximate fair value because of the short maturity of the instruments. The profit ratio measures the amount of profit generated by each single currency unit of sales. The translation from the applicable local currency to United States dollars is performed using the exchange rate in effect at the balance sheet date. Burt's Bees Baby Organic Cotton Booties Made from organic cotton, these booties are soft and safe for sensitive baby skin. The Company sponsors a defined contribution plan pursuant to Section401(k) of the Internal Revenue Code. conducted our audits in accordance with auditing standards generally accepted in the United States. Amortization for the year ended December31, 2005 totaled $72,000. 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. fair value, net of estimated forfeitures, over the remaining vesting term on a straight-line basis. Interest is payable quarterly and the entire principal balance is due on March29, 2012. when estimating expected forfeitures, including the employee class and historical experience. $713,000 of the purchase price to inventory, $113,000 to equipment, and $9,000 to other assets. 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. 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. The Company amortizes the Company issued $25,000,000 in second lien senior secured notes (Second Lien Notes). Shavitz's likeness is featured on the Burt's Bees products. Certain of the leases contain Clorox US career opportunities span coast to coast, delivering the most trusted and well respected portfolio of products to consumers. 130), which requires the Company to report and display certain information related to comprehensive income. 52). That The remainder of the construction in progress balance is attributable to equipment. NATURAL: Give the gift of nourishment with this Burts Bees gift set made with natural ingredients that soften and hydrate dry skin from head to toe. year in quarterly installments in exchange for certain advisory and consulting services. The total cost of these transactions was approximately $174,375,000 including transaction costs and the purchase of all outstanding Class B common stock options from the option holders. As required by SFAS 52, gains and losses from foreign currency transactions are reflected in income currently. In 2006, $31,000 of tax benefits were reported as a financing activity. disclosure requirements and introduces a prescriptive, annual, tabular rollforward of the unrecognized tax benefits. For purposes of performing the goodwill in such costs as leasehold improvements. for its goodwill and indefinite-lived intangible assets in accordance with SFAS No. The notes bore interest at a series of LIBOR-based 45% of oils, waxes and butters. It is effective for daily use and has been Awarded National Eczema Association Seal of Acceptance, BURTS BEES FACE CARE: Use this moisturizer daily as part of Burts Bees Sensitive Face Care 5 product regimen for a healthier looking complexion, naturally, 2 PACK LIP CARE: Apply Burts Bees Moisturizing Beeswax Lip Balm to nourish and hydrate your lips with a dash of peppermint, WITH PEPPERMINT OIL: Hydrate and sooth dry lips with beeswax and a dash of peppermint extract packed into every tube of Burts Bees Beeswax Lip Balm, SMOOTH LIP BALM: Just one swipe of this conditioning lip care leaves your lips smooth and refreshed all day long, ALL NATURAL: Enriched with 100% natural ingredients, this natural lip balm is formulated without parabens, phthalates, petrolatum or SLS, LIP BALM: Treat your lips to a spa retreat with this refreshing lip balm that naturally beautifies and revitalizes your lips, NIGHT CREAM: Help restore the delicate skin on your face with this nourishing Burts Bees night cream enriched with natural, anti-aging ingredients, NATURAL SKIN TREATMENT: This 98.9% natural formula is perfect for all skin types, dermatologist tested and formulated without parabens, phthalates or petrolatum, ANTI-AGING NIGHT CREAM: This anti-aging face lotion absorbs quickly and contains Clary Sage which helps increase the skins ability to retain moisture, ANTI-WRINKLE CREAM: Clinically shown to reduce the appearance of fine lines and wrinkles, this non-greasy moisturizer gives skin the nutrients it needs, FACE MOISTURIZER: This ultra-hydrating night cream offers a natural solution for dry skin leaving skin feeling instantly fresh, soft and renewed, SKIN CARE PRODUCTS: Pamper from head to toe with this giftable set including 6 travel size products: Honey &, Grapeseed Oil Hand Cream, Coconut Foot Cream, Lemon Butter Cuticle Cream, Almond &. Called "beezin'," because the trend is to use Burt's Bees lip balm in particular, some . accordance with Statement of Financial Accounting Standards No. Published: March 3, 2023 at 7:07 a.m. Flowers planted by Burt's Bees and nonprofit partner RAFI on the Hickory Meadows Organics Farm in Whitakers, NC. 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. The figure is about the latest fiscal year available. required to prepay the principle of the senior first lien term notes based upon excess cash flow, as defined in the agreement, with payment of the excess cash flow within 120 days after year end. had not been placed into service as of year end. For years, Burt's Bees has been a bright spot on the firm's earnings reports. Burt Shavitz poses on his property in Parkman, Maine on May 23, 2014. Represented Burt's Bees at Natural Products Expo West trade show. The Company uses historical data among other factors to estimate forfeiture rates used in the model. 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. for the years ended December31, 2006 and 2005, respectively. Certain amounts in the 2005 financial statements have been reclassified to conform to the 2006 presentation. Negative values mean that the company has a negative level of post tax profit. Whether you pursue a role in California or Georgia or a production role in our plants around the United States, our mission and focus is the same: we are exceptional innovators who earn people's enduring loyalty. In 2006, two customers each represented approximately 16% of total revenue, and in 2005, a single FIN 48 revises But our team has been vetting one affordable makeup and skincare brand lately, and y'all, I don't . Responsibility. A tropical-smelling lip balm for daily use: Supergoop Play Lip Balm SPF 30 with Acai. Except for historical information, matters discussed in the << BACK TO WORK. All intercompany accounts and transactions have been eliminated in consolidation. issuance costs totaling $613,000 were recorded as a component of interest expense in 2005. The Company deposits its cash and cash equivalents in domestic At December31, 2006, two customers represented approximately 27% and 14% of accounts receivable. and administrative expense on the statement of income for that period. Award winning pajamas, crib sheets, shampoo and more. The Company year ended December31, 2006, foreign currency losses amounted to $37,000. 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. The risk-free interest rate for periods within the contractual life of the option is based on the yield of the U.S. Treasury securities at the time of grant. ClassA common stock has voting 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

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