<SEC-DOCUMENT>0000098677-17-000005.txt : 20170426
<SEC-HEADER>0000098677-17-000005.hdr.sgml : 20170426
<ACCEPTANCE-DATETIME>20170426154851
ACCESSION NUMBER: 0000098677-17-000005
CONFORMED SUBMISSION TYPE: 8-K
PUBLIC DOCUMENT COUNT: 2
CONFORMED PERIOD OF REPORT: 20170331
ITEM INFORMATION: Results of Operations and Financial Condition
ITEM INFORMATION: Financial Statements and Exhibits
FILED AS OF DATE: 20170426
DATE AS OF CHANGE: 20170426
FILER:
COMPANY DATA:
COMPANY CONFORMED NAME: TOOTSIE ROLL INDUSTRIES INC
CENTRAL INDEX KEY: 0000098677
STANDARD INDUSTRIAL CLASSIFICATION: SUGAR & CONFECTIONERY PRODUCTS [2060]
IRS NUMBER: 221318955
STATE OF INCORPORATION: VA
FISCAL YEAR END: 1231
FILING VALUES:
FORM TYPE: 8-K
SEC ACT: 1934 Act
SEC FILE NUMBER: 001-01361
FILM NUMBER: 17784103
BUSINESS ADDRESS:
STREET 1: 7401 S CICERO AVE
CITY: CHICAGO
STATE: IL
ZIP: 60629
BUSINESS PHONE: 7738383400
MAIL ADDRESS:
STREET 1: 7401 S CICERO AVE
CITY: CHICAGO
STATE: IL
ZIP: 60629
FORMER COMPANY:
FORMER CONFORMED NAME: SWEETS CO OF AMERICA INC
DATE OF NAME CHANGE: 19660921
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>mar17f8kfiling.txt
<DESCRIPTION>TOOTSIE ROLL INDUSTRIES, INC.
<TEXT>
UNITED STATES
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
April 25, 2017
Date of report (Date of earliest event reported)
TOOTSIE ROLL INDUSTRIES, INC.
(Exact Name of Registrant as Specified in Its charter)
Virginia
(State or Other Jurisdiction of Incorporation)
001-01361
(Commission File Number)
22-1318955
(I.R.S. Employer Identification No.)
7401 South Cicero Avenue, Chicago, Illinois 60629
(Address of Principal Executive Offices) (Zip Code)
773-838-3400
(Registrant's Telephone Number, Including Area Code)
Not Applicable
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions:
[__] Written communications pursuant to Rule 425 under the Securities Act
(17 CFR 230.425)
[__] Soliciting material pursuant to Rule 14a-12 under the Exchange Act
(17 CFR 240.14a-12)
[__] Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))
[__] Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))
ITEM 2.02. RESULTS OF OPERATIONS AND FINANCIAL CONDITION.
On April 25, 2017, Tootsie Roll Industries, Inc. issued a press release
(the "release") announcing its results of operations and financial condition for
the first quarter ended March 31, 2017. A copy of the release is attached
hereto as Exhibit 99.1 and incorporated herein by reference.
The information in the release and in this Item 2.02 is "furnished" and not
"filed" for purposes of Section 18 of the Securities and Exchange Act of 1934,
or otherwise subject to the liabilities of that section. Such information may
only be incorporated by reference in another filing under the Securities
Exchange Act of 1934 or the Securities Act of 1933 only if and to the extent
such subsequent filing specifically references such information.
Item 9.01. Financial Statements and Exhibits.
(c) The following exhibit is furnished with this report:
Exhibit 99.1 Press Release of Tootsie Roll Industries, Inc., dated
April 25, 2017.
SIGNATURE
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
under-signed thereunto duly authorized.
April 25, 2017 TOOTSIE ROLL INDUSTRIES, INC.
By: /S/G. HOWARD EMBER, JR.
G. Howard Ember, Jr.
Vice President Finance and
Chief Financial Officer
EXHIBIT INDEX
Exhibit No. Description
99.1 Press Release of Tootsie Roll Industries, Inc., dated April 25, 2017.
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>2
<FILENAME>exh99_pressrelease.txt
<DESCRIPTION>TOOTSIE ROLL INDUSTRIES, INC.
<TEXT>
EXHIBIT 99.1
Tootsie Roll Industries, Inc.
7401 South Cicero Avenue
Chicago, IL 60629
Phone 773/838-3400
Fax 773/838-3534
Press Release
STOCK TRADED: NYSE FOR IMMEDIATE RELEASE
TICKER SYMBOL: TR Tuesday, April 25, 2017
CHICAGO, ILLINOIS - April 25, 2017 - Ellen R. Gordon, Chairman,
Tootsie Roll Industries, Inc., reported first quarter 2017 net
sales and net earnings.
First quarter 2017 net sales were $103,425,000 compared to
$103,362,000 in first quarter 2016, an increase of $63,000.
First quarter 2017 net earnings were $10,051,000 compared to
$9,896,000 in first quarter 2016, and net earnings per share
were $.16 and $.15 in first quarter 2017 and 2016, respectively,
an increase of $.01 per share or 7%.
Mrs. Gordon said, "The timing of sales to certain customers as
well as currency translation of foreign sales had some adverse
impact on first quarter 2017 sales compared to the prior year
first quarter period. Plant efficiencies driven by capital
investments and ongoing cost containment programs mitigated
certain increases in operating costs and expenses in first quarter
2017 compared to first quarter 2016. Although overall comparative
ingredient costs in first quarter 2017 were generally in line with
first quarter 2016, certain key ingredient costs are higher this
year. The Company's first quarter 2017 net earnings were adversely
affected by unfavorable foreign exchange, but benefited from a
lower effective state income tax rate. Stock purchases in the
open market resulting in fewer shares outstanding also contributed
to improved earnings per share."
TOOTSIE ROLL INDUSTRIES, INC.
CONSOLIDATED SUMMARY OF SALES & EARNINGS
FOR THE PERIODS ENDED
MARCH 31, 2017 & MARCH 31, 2016
FIRST QUARTER ENDED
2017 2016
Net Product Sales $ 103,425,000 $ 103,362,000
Net Earnings $ 10,051,000 $ 9,896,000
Net Earnings Per Share * $ .16 $ .15
Average Shares Outstanding * 63,605,000 64,347,000
*Based on average shares outstanding adjusted for 3% stock dividends
distributed April 17, 2017 and April 8, 2016.
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>