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.