0000098677-15-000002.txt : 20150211
0000098677-15-000002.hdr.sgml : 20150211
20150211150312
ACCESSION NUMBER: 0000098677-15-000002
CONFORMED SUBMISSION TYPE: 8-K
PUBLIC DOCUMENT COUNT: 2
CONFORMED PERIOD OF REPORT: 20141231
ITEM INFORMATION: Results of Operations and Financial Condition
ITEM INFORMATION: Financial Statements and Exhibits
FILED AS OF DATE: 20150211
DATE AS OF CHANGE: 20150211
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: 15599093
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
dec14f8kfiling.txt
TOOTSIE ROLL INDUSTRIES, INC.
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
February 10, 2015
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 February 10, 2015, Tootsie Roll Industries, Inc. issued a press release
(the "release") announcing its results of operations and financial condition
for the fourth quarter ended December 31, 2014. 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
February 10, 2015.
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.
February 10, 2015 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 February 10,
2015.
EX-99
2
exh99_pressrelease.txt
TOOTSIE ROLL INDUSTRIES, INC.
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, February 10, 2015
CHICAGO, ILLINOIS - February 10, 2015 - Ellen R. Gordon,
Chairman, Tootsie Roll Industries, Inc., reported fourth
quarter and twelve months 2014 net sales and net earnings.
Fourth quarter 2014 net sales were $137,929,000 compared to
$135,553,000 in fourth quarter 2013, an increase of $2,376,000
or 2%. Fourth quarter 2014 net earnings were $18,023,000 compared
to $17,368,000 in fourth quarter 2013, and net earnings
per share were $.30 and $.28 in fourth quarter 2014 and 2013,
respectively, an increase of $.02 per share or 7%.
Twelve months 2014 net sales were $539,895,000 compared to
$539,627,000 in twelve months 2013. Twelve months 2014 net earnings
were $63,298,000 compared to $60,849,000 in twelve months 2013,
and net earnings per share were $1.05 and $.99 in twelve months 2014
and 2013, respectively, an increase of $.06 per share or 6%.
Mrs. Gordon said, "Fourth quarter and twelve months 2014 net earnings
benefited from higher sales and more favorable ingredient costs. Plant
manufacturing efficiencies driven by capital investments and ongoing
cost containment programs also contributed to these higher earnings.
Although our overall comparative ingredient costs were more favorable
in fourth quarter and twelve months 2014, certain key ingredient costs
were higher this year. We are continuing to make progress on restoring
our margins to their historical levels before the increases in commodity
and other input costs in past years.
Fourth quarter and twelve months net earnings for the prior year
2013 comparative periods benefited from lower effective income tax rates
and a capital gain on the sale of an investment security, both of which
adversely affects the comparison of 2014 to 2013 results. The Company's
fourth quarter and twelve months 2014 net earnings per share 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
DECEMBER 31, 2014 & 2013
FOURTH QUARTER ENDED
2014 2013
Net Product Sales $ 137,929,000 $ 135,553,000
Net Earnings $ 18,023,000 $ 17,368,000
Net Earnings Per Share * $ .30 $ .28
Average Shares Outstanding * 60,251,000 61,160,000
TWELVE MONTHS ENDED
2014 2013
Net Product Sales $ 539,895,000 $ 539,627,000
Net Earnings $ 63,298,000 $ 60,849,000
Net Earnings Per Share * $1.05 $ .99
Average Shares Outstanding * 60,562,000 61,399,000
*Based on average shares outstanding adjusted for 3% stock dividends
distributed April 4, 2014 and April 5, 2013.