-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, CwrNwr1qOSTIqm5m2OK9UokL+PvLCHF1iCNfjRtrOotn+l/YeNyt8urHL31qzHlr yGFzVAyG/h95N/Haiz9YUQ== 0000098677-10-000013.txt : 20100729 0000098677-10-000013.hdr.sgml : 20100729 20100729120617 ACCESSION NUMBER: 0000098677-10-000013 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20100703 ITEM INFORMATION: Other Events FILED AS OF DATE: 20100729 DATE AS OF CHANGE: 20100729 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: 10976873 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 8-K 1 jun10filing.txt TOOTSIE ROLL INDUSTRIES, INC. 8K ENDING 7/3/10 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 July 28, 2010 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 July 28, 2010, Tootsie Roll Industries, Inc. issued a press release (the "release") announcing its results of operations and financial condition for the second quarter ended July 3, 2010. 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 July 28, 2010. 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. July 28, 2010 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 July 28, 2010. 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 Wednesday, July 28, 2010 CHICAGO, ILLINOIS - July 28, 2010 - Melvin J. Gordon, Chairman, Tootsie Roll Industries, Inc. reported second quarter and first half 2010 net sales and net earnings. Second quarter 2010 net sales were $105,026,000 compared to $107,812,000 in second quarter 2009, a decrease of $2,786,000 or 3%. Second quarter 2010 net earnings were $8,471,000 compared to $10,338,000 in second quarter 2009, and net earnings per share were $.15 and $.18 in second quarter 2010 and 2009, respectively, a decrease of $.03 per share or 17%. First half 2010 net sales were $208,270,000 compared to $201,866,000 in first half 2009, an increase of $6,404,000 or 3%. First half 2010 net earnings were $17,556,000 compared to $18,658,000 in first half 2009, and net earnings per share were $.31 and $.32 in first half 2010 and 2009, respectively, a decrease of $.01 per share or 3%. Mr. Gordon said, "Second quarter 2010 net sales were adversely affected by the timing of certain customer sales in second and third quarter 2010. Second quarter 2010 net earnings were significantly impacted by higher ingredient costs, primarily sugar, as well as increases in distribution costs relating to freight and delivery to customers. However, second quarter 2010 net earnings did benefit from a lower effective income tax rate. The Company's second quarter 2010 earnings per share benefited from common stock purchases in the open market resulting in fewer shares outstanding. First half 2010 net sales principally benefited from effective marketing and sales programs. Although first half 2010 net sales were adversely affected by the timing of sales in the second and third quarter 2010 as discussed above, first half 2010 sales did benefit from the timing of certain customer sales in fourth quarter 2009 and first quarter 2010. First half 2010 net earnings benefited from higher net sales as well as a lower effective income tax rate as discussed above, however, first half 2010 results were also adversely affected by higher ingredient and distribution costs which are discussed above. First half 2010 earnings per share benefited from common stock purchases and fewer outstanding shares." TOOTSIE ROLL INDUSTRIES, INC. CONSOLIDATED SUMMARY OF NET SALES & NET EARNINGS FOR THE PERIODS ENDED JULY 3, 2010 & JULY 4, 2009 SECOND QUARTER ENDED 2010 2009 Net Product Sales $ 105,026,000 $ 107,812,000 Net Earnings $ 8,471,000 $ 10,338,000 Net Earnings Per Share * $ .15 $ .18 Average Shares Outstanding * 57,105,000 57,910,000 SIX MONTHS ENDED 2010 2009 Net Product Sales $ 208,270,000 $ 201,866,000 Net Earnings $ 17,556,000 $ 18,658,000 Net Earnings Per Share * $ .31 $ .32 Average Shares Outstanding * 57,197,000 58,059,000 *Based on average shares outstanding adjusted for 3% stock dividends distributed April 8, 2010 and April 9, 2009. -----END PRIVACY-ENHANCED MESSAGE-----