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<SEC-DOCUMENT>0000078239-06-000073.txt : 20060825
<SEC-HEADER>0000078239-06-000073.hdr.sgml : 20060825
<ACCEPTANCE-DATETIME>20060825102939
ACCESSION NUMBER:		0000078239-06-000073
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20060824
ITEM INFORMATION:		Regulation FD Disclosure
FILED AS OF DATE:		20060825
DATE AS OF CHANGE:		20060825

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PHILLIPS VAN HEUSEN CORP /DE/
		CENTRAL INDEX KEY:			0000078239
		STANDARD INDUSTRIAL CLASSIFICATION:	MEN'S & BOYS' FURNISHINGS, WORK CLOTHING, AND ALLIED GARMENTS [2320]
		IRS NUMBER:				131166910
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0131

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-07572
		FILM NUMBER:		061054410

	BUSINESS ADDRESS:	
		STREET 1:		200 MADISON AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10016
		BUSINESS PHONE:		2123813500

	MAIL ADDRESS:	
		STREET 1:		200 MADISON AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10016
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>eightkaug252006.htm
<TEXT>
<!doctype html public "-//IETF//DTD HTML//EN">
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<HEAD>
<TITLE>SECURITIES AND EXCHANGE COMMISSION</TITLE>
<META NAME="author" CONTENT="MECPC1">
<META NAME="date" CONTENT="08/25/2006">
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<BODY style="line-height:12pt; font-size:10pt; color:#000000">
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt" align=right><B><BR></B></P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=center><B>UNITED STATES</B></P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=center><B>SECURITIES AND EXCHANGE COMMISSION</B></P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=center><B>Washington, D.C. 20549</B></P>
<P style="margin-top:12pt; margin-bottom:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=center><B>_____________________________</B></P>
<P style="margin-top:24pt; margin-bottom:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=center><B>FORM 8-K</B></P>
<P style="margin-top:12pt; margin-bottom:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=center><B>CURRENT REPORT<BR>
Pursuant to Section 13 or 15(d) of the<BR>
Securities Exchange Act of 1934</B></P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><B><BR></B></P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=center>Date of Report (Date of earliest event reported) </P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=center><U>August 24, 2006</U></P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin-top:0pt; margin-bottom:12pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=center><U>PHILLIPS-VAN HEUSEN CORPORATION<BR>
</U>(Exact name of registrant as specified in its charter)</P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=center><U>Delaware</U></P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=center>(State or other jurisdiction of incorporation)</P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt" align=center><BR></P>
<TABLE style="font-size:10pt" cellspacing=0><TR><TD valign=top width=269.6><P style="margin-top:0pt; margin-bottom:12pt; padding-left:-36pt; font-family:Times New Roman; font-size:12pt" align=center><U>001-07572</U></P>
</TD><TD valign=top width=272.8><P style="margin-top:0pt; margin-bottom:12pt; font-family:Times New Roman; font-size:12pt" align=center><U>13-1166910</U></P>
</TD></TR>
<TR><TD valign=top width=269.6><P style="margin-top:0pt; margin-bottom:12pt; padding-left:-36pt; font-family:Times New Roman; font-size:12pt" align=center>(Commission File Number)</P>
</TD><TD valign=top width=272.8><P style="margin-top:0pt; margin-bottom:12pt; font-family:Times New Roman; font-size:12pt">(IRS Employer Identification Number)</P>
</TD></TR>
</TABLE>
<P style="margin-top:0pt; margin-bottom:12pt; font-family:Times New Roman; font-size:12pt" align=center><U><BR></U></P>
<P style="margin-top:0pt; margin-bottom:12pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=center><U>200 Madison Avenue, New York, New York 10016<BR>
</U>(Address of Principal Executive Offices)</P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin-top:0pt; margin-bottom:12pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=center>Registrant&#146;s telephone number <U>(212)-381-3500</U></P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=center><U>Not Applicable</U></P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=center>(Former Name or Former Address, if Changed Since Last Report)</P>
<P style="margin-top:0pt; margin-bottom:12pt; font-family:Times New Roman; font-size:12pt" align=center><BR></P>
<P style="margin-top:12pt; margin-bottom:0pt; font-family:Times New Roman; font-size:12pt" align=center><U><BR></U></P>
<P style="margin-top:0pt; margin-bottom:12pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin-top:0pt; margin-bottom:12pt; font-family:Times New Roman; font-size:12pt"><BR>
<BR></P>
<P style="margin-top:0pt; margin-bottom:12pt; font-family:Times New Roman; font-size:12pt"><BR>
<BR></P>
<HR style="padding-top:7.2pt; padding-bottom:7.2pt" noshade size=1.333>
<P style="page-break-before:always; margin-top:0pt; margin-bottom:12pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin-top:5pt; margin-bottom:-14pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"><B>ITEM 7.01</B></P>
<P style="margin-top:0pt; margin-bottom:5pt; text-indent:72pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"><B>REGULATION FD DISCLOSURE</B></P>
<P style="margin-top:5pt; margin-bottom:5pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">During its second quarter 2006 earnings release conference call on August 24, 2006, Phillips-Van Heusen Corporation (the &#147;Company&#148;) provided EBITDA guidance of approximately $85 million to $88 million for its third quarter of 2006. EBITDA is a &quot;non-GAAP financial measure&quot; which represents net income before net interest expense, income taxes, depreciation and amortization. EBITDA is provided because the Company believes it is an important measure of liquidity. The Company uses EBITDA in connection with certain covenants relating to the Company's outstanding debt. EBITDA should not be construed as an alternative to net income as an indicator of the Company's operating performance, or as an alternative to cash flows from operating activities as a measure of the Company's liquidity, as determined in accordance with generally accepted accounting principles. The Company may calculate EBIT
DA differently than other companies. Set forth below is the Company's reconciliation of net income to EBITDA of $86.5 million, which is the midpoint of the range provided. It is not possible to provide a reconciliation for the entire range without unreasonable effort due to the number of elements which comprise EBITDA, including net income, income taxes, net interest expense and depreciation and amortization, each of which is subject to a range of estimates.</P>
<P style="margin-top:5pt; margin-bottom:5pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<TABLE style="font-size:10pt" cellspacing=0><TR><TD valign=top width=336 colspan=2><P style="margin-top:5pt; margin-bottom:5pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=center><B>EBITDA RECONCILIATION (In 000&#146;s)</B></P>
</TD></TR>
<TR><TD valign=top width=240>&nbsp;</TD><TD valign=top width=96>&nbsp;</TD></TR>
<TR><TD valign=top width=240><P style="margin-top:5pt; margin-bottom:5pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">Net income</P>
</TD><TD valign=top width=96><P style="margin-top:5pt; margin-bottom:5pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=right>$ &nbsp;&nbsp;&nbsp;&nbsp;46,000</P>
</TD></TR>
<TR><TD valign=top width=240><P style="margin-top:5pt; margin-bottom:5pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">Plus:</P>
</TD><TD valign=top width=96>&nbsp;</TD></TR>
<TR><TD valign=top width=240><P style="margin-top:5pt; margin-bottom:5pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">&nbsp;&nbsp;&nbsp;Income tax expense</P>
</TD><TD valign=top width=96><P style="margin-top:5pt; margin-bottom:5pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27,000</P>
</TD></TR>
<TR><TD valign=top width=240><P style="margin-top:5pt; margin-bottom:5pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">&nbsp;&nbsp;&nbsp;Interest expense, net</P>
</TD><TD valign=top width=96><P style="margin-top:5pt; margin-bottom:5pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4,300</P>
</TD></TR>
<TR><TD valign=top width=240><P style="margin-top:5pt; margin-bottom:5pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">&nbsp;&nbsp;&nbsp;Depreciation and amortization</P>
</TD><TD style="border-bottom:0.5pt solid #000000" valign=top width=96><P style="margin-top:5pt; margin-bottom:5pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9,200</P>
</TD></TR>
<TR><TD valign=top width=240><P style="margin-top:5pt; margin-bottom:5pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">EBITDA</P>
</TD><TD style="border-bottom:2pt double #000000" valign=top width=96><P style="margin-top:5pt; margin-bottom:5pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=right>&nbsp;$ &nbsp;&nbsp;&nbsp;&nbsp;86,500</P>
</TD></TR>
</TABLE>
<P style="margin-top:5pt; margin-bottom:5pt; font-family:Times New Roman; font-size:12pt">&nbsp;</P>
<P style="margin-top:5pt; margin-bottom:5pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">The information in this Form 8-K shall not be deemed &quot;filed&quot; for purposes of Section&nbsp;18 of the Securities Exchange Act of 1934 or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, regardless of any general incorporation language in such filing. &nbsp;This report under Item 7.01 is not deemed an admission as to the materiality of any information in this report nor that it is required to be disclosed by Regulation FD.&nbsp;</P>
<P style="margin-top:5pt; margin-bottom:5pt; font-family:Times New Roman; font-size:12pt"><BR>
<BR></P>
<P style="margin:0pt; font-family:Times New Roman; font-size:8pt"><BR></P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<HR style="padding-top:7.2pt; padding-bottom:7.2pt" noshade size=1.333>
<P style="page-break-before:always; margin-top:5pt; margin-bottom:5pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin-top:5pt; margin-bottom:5pt; font-family:Times New Roman; font-size:12pt">&nbsp;</P>
<P style="margin-top:5pt; margin-bottom:5pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=center>SIGNATURES</P>
<P style="margin-top:5pt; margin-bottom:5pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">Pursuant to the requirements of the Securities and Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</P>
<P style="margin-top:5pt; margin-bottom:5pt; padding-left:202.5pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">PHILLIPS-VAN HEUSEN CORPORATION</P>
<P style="margin-top:5pt; margin-bottom:5pt; padding-left:202.5pt; font-family:Times New Roman; font-size:12pt">&nbsp;</P>
<P style="margin-top:5pt; margin-bottom:5pt; padding-left:202.5pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">By: <U>/s/ Michael Shaffer </U></P>
<P style="margin:0pt; padding-left:202.3pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">Michael Shaffer</P>
<P style="margin:0pt; padding-left:202.3pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">Executive Vice President and Chief Financial Officer</P>
<P style="margin-top:5pt; margin-bottom:5pt; padding-left:288pt; font-family:Times New Roman; font-size:12pt">&nbsp;</P>
<P style="margin-top:5pt; margin-bottom:5pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">Date: August 25, &nbsp;2006</P>
<P style="margin-top:5pt; margin-bottom:5pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin-top:5pt; margin-bottom:5pt; font-family:Times New Roman; font-size:12pt"><BR>
<BR></P>
<P style="margin:0pt; font-family:Times New Roman; font-size:8pt"><BR></P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
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