727 Fifth Ave.
New York, N.Y. 10022
212-755-8000; fax 212-605-4465
Employees: 5,960
Tiffany and Company, among the world’s leading jewelry manufacturers, opened
a 100,000-square foot manufacturing facility in Cumberland this year, infusing
some life into the state’s ailing jewelry industry. The company has announced
that it expects to expand to several hundred employees in the next few years.
Meanwhile it reported a 3 percent drop in revenues for the quarter that ended
April 30, with sales of $336.4 million. Net income increased, however, by 1
percent to $30.8 million.
Stock Information
Exchange: NYSE
Symbol: TIF
Annual meeting: May 17, 2001
Shares of common stock outstanding as of April 30, 2001: 145,900,000
Stock price as of Monday, July 23, 2001: $37.14
Market value as of Monday, July 23, 2001: $5,418,726,000
12-month high stock price: $45.38
12-month low stock price: $25.12
Seifert Systems Invests in Energy Efficiency to Strengthen Operations
For manufacturers, energy is more than just another operating expense. It plays a critical role…
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Operating Results
(dollars in thousands, except per share data)
| For the years ending January 31, |
2001
|
2000
|
1999
|
| Net sales |
$1,668,056
|
$1,471,690
|
$1,177,929
|
| Net earnings |
327,396
|
256,883
|
161,122
|
| Net income per share |
1.26
|
0.97
|
0.63
|
| Total assets |
1,568,340
|
1,343,562
|
1,057,023
|
| Long-term debt |
242,157
|
249,581
|
194,420
|
|
2001
|
1999
|
1997
|
|
| Shareholders’ equity |
925,483
|
516,453
|
378,264
|
Directors
William R. Chaney, 68, director since 1980, chairman of the company’s
board of directors and the company’s former chief executive officer. Shares:
1,317,500
Rose Marie Bravo, 50, director since 1997, worldwide chief executive
of Blueberry Limited. Shares: 36,216
Samuel L. Hayes, 66, director since 1984, the Jacob H. Schiff Professor
of Investment Banking at the Harvard Business School. Shares: 200,552
Michael J. Kowalski, 49, director since 1995, president and chief executive
officer of the company. Shares; 1,114,500
Charles K. Marquis, 58, director since 1984, senior advisor to Investcorp
International, Inc. Shares: 195,812
James E. Quinn, 49, director since 1995, vice chairman of the company.
Shares: 526,130
William A. Shutzer, 54, director since 1984, managing director of Lehman
Brothers. Shares: 255,162
Directors’ fees
Each non-employee director receives an annual retainer of $44,000. Chairpersons
of the compensation, audit and nominating committees receive a retainer of $2,500.
There is a per meeting attendance fee of $2,000, but no fee is paid for a committee
meeting that may occur on the same day as a full Board of Directors meeting.
A fee of $500 is paid for each telephonic meeting in which the director participates.
Institutional ownership
The Prudential Co. of America, 15,710,779
Executive compensation
|
Fiscal Year
|
2001
|
2000
|
|
Michael J. Kowalski, president and CEO
|
$1,890,247
|
$1,498,389
|
|
William R. Chaney, chairman of the board
|
$748,658
|
$760,740
|
|
James E. Quinn, vice chairman
|
$1,156,108
|
$948,725
|
|
Beth Owen Canavan, executive vice president
|
$634,814
|
$464,262
|
| James N. Fernandez, executive v.p. and CFO |
$926,719
|
$758,926
|
Exercised stock options
|
Shares acquired on exercise
|
Value realized
|
|
|
William R. Chaney
|
240,000
|
$7,700,971
|
|
James E. Quinn
|
80,000
|
$2,863,846
|
|
Beth O. Canavan
|
28,000
|
$933,190
|
|
James N. Fernandez
|
32,000
|
$1,095,002
|
*Executive compensation includes salary, bonuses, and other compensation, including
life insurance, cash profit sharing and other payments.
Source: Proxy statement, annual report, quarterly reports, and
other PBN research
