April 19, 2014 4:52 PM ET

Household Durables

Company Overview of Yankee Holding Corp.

Company Overview

Yankee Holding Corp. designs, manufactures, and markets scented candles in the giftware industry in the United States and internationally. It offers approximately 3,700 stock-keeping units of candle products in approximately 440 fragrances, which include various jar candles, Samplers votive candles, Tarts wax potpourri, pillars, and other candle products under the Yankee Candle brand name. The company also sells a range of other home fragrance products, including electric plug home fragrancers, decorative reed diffusers, room sprays, potpourri, scented oils, and coordinated candle related and home decor accessories. In addition, it provides products, such as the Yankee Candle Car Jars auto a...

16 Yankee Candle Way

South Deerfield, MA 01373

United States

Founded in 1976

Phone:

413-665-8306

Key Executives for Yankee Holding Corp.

Chief Executive Officer
Age: 50
Executive Chairman
Age: 61
Chief Financial Officer
Age: 33
Chief Marketing Officer and President of Consumer Direct
Age: 48
President of International
Age: 54
Compensation as of Fiscal Year 2013.

Yankee Holding Corp. Key Developments

Yankee Holding Corp. Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 29, 2013

Yankee Holding Corp. announced unaudited consolidated earnings results for the second quarter and six months ended June 29, 2013. Net sales for the second quarter of 2013 were $155.7 million as compared to net sales of $145.3 million during the second quarter of 2012, an increase of $10.4 million or 7.1%. The Company recorded a net loss of $4.9 million for the second quarter of 2013 compared to a net loss of $13.5 million for the second quarter of 2012. Adjusted EBITDA for the second quarter of 2013 was $14.7 million as compared to adjusted EBITDA of $18.1 million for the prior year second quarter. Income from operations was $7.0 million against $9.2 million, loss before benefit from income taxes was $7.4 million against $21.0 million and loss from continuing operations was $4.9 million against $13.5 million reported last year. EBITDA from continuing operations was $13.9 million against $1.8 million reported last year. The company had approximately $893 million of total net debt at the operating company level at the end of the second quarter of 2013 compared to approximately $940 million of total net debt at the end of the second quarter of 2012. Net sales for the six months ended June 29, 2013 were $319.1 million, compared to $300.4 million for the first six months of fiscal 2012, an increase of 6.2%. The Company recorded a net loss of $6.6 million during the six months ended June 29, 2013, compared to a net loss of $17.1 million during the first six months of fiscal 2012. The net loss for the second quarter and first six months of fiscal 2012 include the loss on early extinguishment of debt of $13.4 million recorded in connection with the Company's April 2012 term loan refinancing. Adjusted EBITDA was $35.7 million as compared to adjusted EBITDA of $38.2 million for the first six months of fiscal 2012. Income from operations was $19.8 million against $19.9 million, loss before benefit from income taxes was $9.3 million against $26.4 million and loss from continuing operations was $6.6 million against $17 million reported last year. EBITDA from continuing operations was $33.2 million against $20 million reported last year. Capital expenditures for the first six months of fiscal 2013 were $20.1 million compared to $16.3 million for the first six months of fiscal 2012. The increase in capital expenditures was largely driven by the costs associated with North American ERP implementation. On a year-to-date basis, cash used in operations was $50.1 million compared to $39.5 million in the prior quarter, an increase of $10.6 million.

Yankee Holding Corp., Q2 2013 Earnings Call, Aug 08, 2013

Yankee Holding Corp., Q2 2013 Earnings Call, Aug 08, 2013

Yankee Holding Corp. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 30, 2013; Provides Earnings Guidance for the Year 2013

Yankee Holding Corp. reported unaudited consolidated earnings results for the first quarter ended March 30, 2013. For the period, the company’s total net sales were $163,376,000 against $155,067,000 a year ago. The increase in sales during the first quarter was primarily driven by sales increases in U.K. Wholesale and Retail concession businesses. Income from operations was $12,735,000 against $10,751,000 a year ago. Loss before benefit from income tax was $1,957,000 against $5,391,000 a year ago. Loss from continuing operations was $1,709,000 against $3,470,000 a year ago. Net loss was $1,733,000 against $3,513,000 a year ago. Adjusted EBITDA for quarter increased to $20.8 million as compared to $20.0 million for the prior year first quarter. The increase in adjusted EBITDA was driven largely by increased sales and segment profit in Retail and International businesses. EBITDA from continuing operations was $19,321,000 against $17,847,000 a year ago. Capital expenditures were $11.9 million compared to $7.8 million for the first fiscal quarter of 2012. The increase in capital expenditures was largely driven by the costs associated with Phase 1 of the company’s 3-Phase U.S. ERP implementation. Cash used in operations was $47.9 million compared to $38 million in the prior-year quarter, an increase of $9.9 million. The increase in cash used in operations relative to the prior year was primarily driven by an increase in cash paid for incentive compensation of $5.4 million; an increase in inventory build, relative to the prior-year quarter of $3.5 million; and an increase in cash paid for operational expenditures of approximately $5.6 million. The company had approximately $877 million of total net debt at the operating company level at the end of the first quarter of 2013 compared to approximately $910 million of total net debt at the end of the first quarter of 2012. For the year 2013, the company remains confident that for the foreseeable future, the company will have sufficient cash flow and liquidity to fund working capital requirements and capital expenditures and to meet the company’s debt service obligations.

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