Integrated Annual . Stock Reserved for Future Issuance. and administrative expense on the statement of income for that period. Recycle your Burt's Bees products with Terracycle. in such costs as leasehold improvements. The lip shimmers glide on with the perfect compliment of moisture and touch . 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 . The Company markets its products as earth friendly, natural personal care products.. That Description of Business and Summary of Significant Accounting Policies, Burts Bees, Inc. (the Company) is a manufacturer of natural personal care products. The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make combination accounted for using the purchase method. with foreign operations as the applicable local currency. Burt Shavitz poses on his property in Parkman, Maine on May 23, 2014. The initiatives were announced along with the release of the company's 2020 Impact Report. In 2005, the Company paid an affiliate of a term or the estimated useful life of the asset. 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. 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. (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 The transaction is accounted for in accordance with SFAS 141, and the results of operations of Forever Natural are included in the Companys 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). Star rating: 4.8/5 Potential allergens: Glycerin Active ingredients: Cotton extract. as coding, installation of hardware, and software configuration. The company offers lip color products, such as lip gloss, lip shimmers, lip shine, tinted lip balms, and lip color bundles; and lip care products, including beeswax lip balms, lip balms, and lip treatment products. 100% (1) 100% found this document useful (1 vote) 357 views. 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. But not this time, as Burt's Bees actually saw sales decrease by double digits with the business "impacted by . using fair value to measure assets and liabilities. 130), which requires the Company to report and display certain information related to comprehensive income. life of the option. This is the legacy of our founders who prized nature for its restorative benefits and to this day help preserve wilderness for future generations.. 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. Interest is payable quarterly and the entire principal balance is due on March29, 2012. Sales are climbing at an annual rate of 9%. Burts Bees Daily Face Moisturizer for Sensitive Skin with Night Cream 20,000+ livelihoods impacted These financial statements are the . Responsibility. . Salary: Burt's Bees Finance & Accounting | Glassdoor LIP MOISTURIZER: Made with Beeswax, antioxidant rich Vitamin E and Pomegranate Oil, this lip balm leaves lips looking and feeling healthy with a hint of color. 4.8 4.8 out of 5 stars (102,801) $10.45 $ 10. It is classified as operating in the Pharmacies & Drug Stores industry. We have struggled to meet our water reduction targets after increasing water use per mass unit of . 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.". $217,000 and $206,000 as of December31, 2006 and 2005, respectively. Natural and organic cosmetics . Burt's Bees Social And Environmental Dedication To Be Recognized for its goodwill and indefinite-lived intangible assets in accordance with SFAS No. earnings growth, profitability, costs, cost savings, innovation or. 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. Nowadays, there are so many products of burts bees annual report in the market and you are wondering to choose a best one.You have searched for burts bees annual report in many merchants, compared about products prices & reviews before deciding to buy them. Headquarters. Since then, the Company has grown rapidly and built a valuable, distinctive brand image among a large loyal customer base. The company may also use non-GAAP financial measures, which could differ from, reported results using Generally Accepted Accounting Principles (GAAP). when estimating expected forfeitures, including the employee class and historical experience. Burt's Bees in Moses Lake, WA Expand search. Weve been earning peoples trust since 1913. In fiscal year 2016, we acquired the Renew Life line of probiotics, cleanses and digestive aids, giving us the $59,924 / yr. Finance Manager salaries - 2 salaries reported. Actual results could differ from those estimates. We were not engaged to perform an audit of the Companys internal control over financial reporting. Except for historical information, matters discussed in the The Company pays a quarterly commitment fee of 0.50% on the unused portion of the revolver. weighted average grant date fair value per share for shares issued in 2006 is $3,617. All intercompany accounts and transactions have been eliminated in consolidation. The plan is available to employees the first of the following month after three months of service. Burt's Bees | By Nature. For Nature. For All 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. In assessing the realizability of deferred tax assets, management considers whether it is more likely Burts Bees's Annual Report & Profile shows critical firmographic facts: An . companys most recent Form 10-K, filed with the SEC, as updated from Financial instruments that potentially subject the Company to a concentration of credit risk consist of cash equivalents and accounts receivable. Collaboration between the Clorox and Burt's R&D departments has also helped make Burt's products more natural. 48 Accounting for Uncertainty in Income Taxes an interpretation of FASB Statement No. 109 (FIN 48). . 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 Company may be required to make additional future cash Burt's Bees History: Founding, Timeline, and Milestones - Zippia You are what you measure. Naturally, when they planned to break into a new product category, consumer content was a critical element of their strategy. Over the years, Burt's Bees has become a global natural, conscious skincare brand. FIN 48 revises It's bad for your eyes, according to a Michigan Medicine expert. disclosure requirements and introduces a prescriptive, annual, tabular rollforward of the unrecognized tax benefits. Additionally, the Company allocated Job Title. 2023 The Clorox Company. In and 2005 will begin to expire in 2007 if not used. Our responsibility is to express an opinion on these financial statements based on our audits. Award winning pajamas, crib sheets, shampoo and more. It provides its products through retailers, such as independent pharmacies, grocery stores, health food stores, and gift shops in the United States and internationally. we purchase directly traced to origin and verified with on-site visits. At appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Companys internal control over financial reporting. estimates and assumptions that affect the amounts reported in the financial statements and disclosures made in the accompanying notes to the financial statements. income for that period. On April21, 2005, the Company entered into an interest rate swap to hedge against the impact on cash flows of changes in interest rates provisions of Statement of Financial Accounting Standards No. Shop the best for newborns, babies and toddlers. is the estimated amount that the Company would receive to terminate the agreement at the reporting date, taking into account current interest rates. The Board of Directors and Stockholders Burts Bees, Inc. We have audited the accompanying consolidated balance How I Built This with Guy Raz. conducted our audits in accordance with auditing standards generally accepted in the United States. 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 These options have an exercise price of $8,360 per share, generally a graded vesting period of five years or 20% vested per year, and generally an expiration date ten In 2006, two customers each represented approximately 16% of total revenue, and in 2005, a single 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. Feb 2, 2022. goodwill and certain intangibles. Kathleen M. Sarnes. Burt's Bees is a natural brand focused on using only the highest quality ingredients for their products. years from the date of grant. substantially all the assets of the Company. In accordance with SFAS No. Sarah Au - Senior Director of Marketing - LinkedIn 2,260 shares had been granted and were outstanding, and 587 shares were vested. Description of Business and Summary of Significant Accounting The Company has recorded a long term liability of approximately 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). Best for: Sensitive skin. Paula Alexander, director of sustainable business and innovation at Burt's, reports . ClassA common stock has voting Burt's Bees Calming Night Cream Review - byrdie.com <style>.fallback-nojs { display: flex; flex-direction: column; justify-content: center; align-items: center; text-align: center; } .fallback-nojs a { color . Analysis of the Burt's Bees Case Study - GraduateWay Investors - Financial Information - Annual Reports - Clorox 123(R), Share-Based Payments (SFAS 123(R)), and related guidance. At December31, 2006, two customers represented approximately 27% and 14% of accounts receivable. consumer was asked about one other random company from which they had purchased personal care items; Core is a weighted average of Tom's (n=81), Kiss My . 45% of oils, waxes and butters. 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. 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. Burt's Bees | Company Overview & News Thriving Together: Burt's Bees 2020 Impact Report 142 requires the use of a non-amortization approach to account for purchased THE FLIGHT PATH: While our original goal of helping The employee data is based on information from people who have self-reported their past or current employments at Burt's Bees. Accounts receivable are derived from revenue Canada ULC. The Board of Directors and Stockholders Burt's Bees, Inc. We have audited the accompanying consolidated balance sheets of Burt's Bees, Inc. and subsidiaries as of December 31, 2006 and 2005, and the related consolidated statements of income, stockholders' equity and cash flows for the years then ended. Responsibility. 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. statements. Personal Care market was $62 billion in 2006, with historical growth rate of 3.2% As of December31, 2006 and 2005, the allowances for doubtful accounts receivable and sales returns totaled $253,000 and $237,000, respectively.
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