0000098677-15-000005.txt : 20150429
0000098677-15-000005.hdr.sgml : 20150429
20150429122344
ACCESSION NUMBER: 0000098677-15-000005
CONFORMED SUBMISSION TYPE: 8-K
PUBLIC DOCUMENT COUNT: 2
CONFORMED PERIOD OF REPORT: 20150331
ITEM INFORMATION: Results of Operations and Financial Condition
ITEM INFORMATION: Financial Statements and Exhibits
FILED AS OF DATE: 20150429
DATE AS OF CHANGE: 20150429
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: 15811117
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
mar15f8kfiling.txt
TOOTSIE ROLL INUDUSTRIES, 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
April 27, 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 April 27, 2015, 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, 2015. 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 27, 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.
April 27, 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 April 27, 2015.
EX-99
2
exh99_pressrelease.txt
TOOTSIE ROLL INUDUSTRIES, 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 Monday, April 27, 2015
CHICAGO, ILLINOIS - April 27, 2015 - Ellen R. Gordon, Chairman,
Tootsie Roll Industries, Inc., reported first quarter 2015 net
sales and net earnings.
First quarter 2015 net sales were $105,477,000 compared to
$106,812,000 in first quarter 2014. First quarter 2015 net
earnings were $9,154,000 compared to $9,581,000 in first quarter
2014, and net earnings per share were $.15 in both first quarter
2015 and 2014.
Mrs. Gordon said, "First quarter 2015 sales were adversely affected
by the effects of a stronger U.S. dollar on foreign sales. Excluding
the effects of this unfavorable foreign exchange, reported net sales
in first quarter 2015 would have matched first quarter 2014. Plant
efficiencies driven by capital investments and ongoing cost
containment programs mitigated increases in operating costs and
expenses in first quarter 2015 compared to first quarter 2014.
Although our overall comparative ingredient costs in first quarter
2015 were generally in line with first quarter 2014, certain key
ingredient costs are higher this year. The Company's first quarter
2015 net earnings were adversely affected by unfavorable foreign
exchange, but 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
MARCH 31, 2015 & MARCH 29, 2014
FIRST QUARTER ENDED
2015 2014
Net Product Sales $ 105,477,000 $ 106,812,000
Net Earnings $ 9,154,000 $ 9,581,000
Net Earnings Per Share * $ .15 $ .15
Average Shares Outstanding * 61,831,000 62,610,000
*Based on average shares outstanding adjusted for 3% stock dividends
distributed April 10, 2015 and April 4, 2014.