Key Developments: Furniture Brands International Inc (FBN.N)

FBN.N on New York Stock Exchange

2.24USD
1 Aug 2013
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Latest Key Developments (Source: Significant Developments)

Furniture Brands International Inc Comments On FY 2013 Sales Guidance-Conference Call
Friday, 3 May 2013 12:30pm EDT 

Furniture Brands International Inc announced that for fiscal 2013, it expect sales declines to moderate throughout the rest of the year. The Company reported revenue of $1.072 billion in fiscal 2012. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report revenue of $1.066 billion for fiscal 2013.  Full Article

Furniture Brands International Inc Announces New Credit Facility Comprised Of New $200 Million Asset Based Loan And $50 Million Term Loan
Thursday, 27 Sep 2012 08:30am EDT 

Furniture Brands International Inc announced that it has successfully closed on a new five year secured credit facility comprised of a new $200 million asset-based loan and a $50 million secured term loan. These facilities repay the amounts outstanding under the existing asset-based loan, and after associated closing costs, result in over $90 million of excess borrowing availability.  Full Article

Furniture Brands International, Inc. Extends Stockholder Rights Plan
Tuesday, 19 Jun 2012 08:00am EDT 

Furniture Brands International, Inc. announced that its Board of Directors amended and restated its stockholder rights plan to extend the expiration date from July 30, 2012 to June 18, 2015, and to effect other changes intended to update the existing plan. The stockholder rights plan, first implemented in 2009 and approved by Furniture Brands' stockholders in 2010, was adopted by the Board in order to preserve the value of tax assets associated with the Company's net operating loss carry forwards and certain other tax benefits under Section 382 of the Internal Revenue Code and to protect stockholders against potential acquirers who may pursue coercive or unfair tactics aimed at gaining control of the Company without paying a full and fair price to all stockholders. The Company intends to seek stockholder approval of the amended and restated rights plan at its next annual meeting.  Full Article

Furniture Brands International, Inc. Names Vance Johnston Chief Financial Officer
Monday, 7 May 2012 04:01pm EDT 

Furniture Brands International, Inc. announced that Vance Johnston has been appointed to the position of Senior Vice President and Chief Financial Officer (CFO), effective May 18. Johnston will assume responsibilities from Steven Rolls, Furniture Brands' current Chief Financial Officer (CFO), following his resignation. Johnston joined Furniture Brands in March 2010 and has since served as Senior Vice President, Growth and Transformation.  Full Article

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