SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934
December 3, 2002
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Date of Report (Date of earliest event reported)
PepsiCo, Inc.
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(Exact name of registrant as specified in its charter
North Carolina
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(State or other jurisdiction of incorporation)
| 1-1183 (Commission File Number) |
13-1584302 (IRS Employer Identification No.) |
700 Anderson Hill Road, Purchase, New York 10577
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(Address of Principal Executive Offices)
Registrant's telephone number, including area code: (914) 253-2000
| Item 5. | Other Events |
| The information in Exhibit 99.1 is incorporated herein by reference. | |
| This release contains certain forward-looking statements within the meaning of the Private Securities Litigation
Reform Act of 1995. These statements are based on currently available competitive, financial and economic data and
our operating plans and are naturally subject to uncertainty and changes in circumstances. Actual results may vary
materially from the expectations contained herein. |
| Item 7. | Financial Statements, Pro Forma Financial Information and Exhibits. |
| (c) Exhibits |
| 99.1 | Press Release issued by PepsiCo, Inc. dated December 3, 2002. |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Date: December 3, 2002 | PepsiCo, Inc. |
| By: | /S/ THOMAS H. TAMONEY, JR. | ||
| Thomas H. Tamoney, Jr. | |||
| Vice President and Associate General Counsel |
INDEX TO EXHIBITS
| Exhibit Number | Description |
| 99.1 | Press Release issued by PepsiCo, Inc. dated December 3, 2002. |
Exhibit 99.1
PEPSICO REAFFIRMS Q4 AND 2002 EPS TARGETS
AFTER QUAKER SELLS BAGGED CEREAL BUSINESS
PURCHASE, N.Y., Dec. 3, 2002 - Quaker, a unit of PepsiCo, earlier today sold its bagged cereal business to Malt-O-Meal, the market leader in the price competitive value cereal segment, in order to concentrate on its larger, more profitable boxed cereal brands.
PepsiCo subsequently reaffirmed that it expects to achieve its previously-stated targets of 13-14% earnings per share growth for the fourth quarter and full year 2002. For purposes of comparison to 2001, PepsiCo is including operating profit from the bagged cereal business – slightly less than one cent per share – in its 2002 earnings, but not the gain from the sale.
For the full year 2002, bagged cereals are expected to account for about 5% of Quaker's North America food revenues.
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CONTACT: Richard M. Detwiler, Jr. Vice President, Public Relations, 914-253-2725 or
Kathleen Allen Luke, Vice President, Investor
Relations, 914-253-3691 both at PepsiCo.
Website: http://www.pepsico.com
(PEP)