0000098677-12-000011.txt : 20120726 0000098677-12-000011.hdr.sgml : 20120726 20120726143839 ACCESSION NUMBER: 0000098677-12-000011 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20120630 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20120726 DATE AS OF CHANGE: 20120726 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: 12987088 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 jun12f8kfiling.txt TOOTSIE ROLL INDUSTRIES, INC. 2ND QTR 2012 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 25, 2012 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 25, 2012, Tootsie Roll Industries, Inc. issued a press release (the "release") announcing its results of operations and financial condition for the second quarter ended June 30, 2012. 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 25, 2012. 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 25, 2012 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 25, 2012. EX-99 2 exh99_pressrelease.txt TOOTSIE ROLL INDUSTRIES, INC. 2ND QTR 2012 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 Wednesday, July 25, 2012 CHICAGO, ILLINOIS - July 25, 2012 - Melvin J. Gordon, Chairman, Tootsie Roll Industries, Inc. reported second quarter and first half 2012 net sales and net earnings. Second quarter 2012 net sales were $108,156,000 compared to $104,884,000 in second quarter 2011, an increase of $3,272,000 or 3%. Second quarter 2012 net earnings were $7,511,000 compared to $6,486,000 in second quarter 2011, and net earnings per share were $.13 and $.11 in second quarter 2012 and 2011, respectively, an increase of $.02 per share or 18%. First half 2012 net sales were $217,919,000 compared to $213,207,000 in first half 2011, an increase of $4,712,000 or 2%. First half 2012 net earnings were $16,285,000 compared to $14,816,000 in first half 2011, and net earnings per share were $.28 and $.25 in first half 2012 and 2011, respectively, an increase of $.03 per share or 12%. Mr. Gordon said, "Second quarter and first half 2012 net sales benefited from effective marketing and selling programs and sales price increases which were necessary to recover rising input costs. Second quarter and first half 2012 net earnings were adversely affected by higher input costs principally relating to ingredients, packaging materials, and freight and delivery, but were favorably impacted by a lower effective income tax rate. The Company's second quarter and first half 2012 net earnings per share also benefited from common stock purchases in the open market resulting in fewer shares outstanding." TOOTSIE ROLL INDUSTRIES, INC. CONSOLIDATED SUMMARY OF SALES & EARNINGS FOR THE PERIODS ENDED JUNE 30, 2012 & JULY 2, 2011 SECOND QUARTER ENDED 2012 2011 Net Product Sales $ 108,156,000 $ 104,884,000 Net Earnings $ 7,511,000 $ 6,486,000 Net Earnings Per Share * $ .13 $ .11 Average Shares Outstanding * 58,911,000 59,725,000 SIX MONTHS ENDED 2012 2011 Net Product Sales $ 217,919,000 $ 213,207,000 Net Earnings $ 16,285,000 $ 14,816,000 Net Earnings Per Share * $ .28 $ .25 Average Shares Outstanding * 58,987,000 59,764,000 *Based on average shares outstanding adjusted for 3% stock dividends distributed April 5, 2012 and April 7, 2011.