0000098677-15-000009.txt : 20150724
0000098677-15-000009.hdr.sgml : 20150724
20150724091956
ACCESSION NUMBER: 0000098677-15-000009
CONFORMED SUBMISSION TYPE: 8-K
PUBLIC DOCUMENT COUNT: 2
CONFORMED PERIOD OF REPORT: 20150630
ITEM INFORMATION: Results of Operations and Financial Condition
ITEM INFORMATION: Financial Statements and Exhibits
FILED AS OF DATE: 20150724
DATE AS OF CHANGE: 20150724
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: 151003543
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
jun15f8kfiling.txt
TOOTSIE ROLL INDUSTRIES, INC. 2ND QTR 2015
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 23, 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 July 23, 2015, 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, 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
July 23, 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.
July 23, 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 July 23, 2015.
EX-99
2
exh99_pressrelease.txt
TOOTSIE ROLL INDUSTRIES, INC. 2ND QTR 2015
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 Thursday, July 23, 2015
CHICAGO, ILLINOIS - July 23, 2015 - Ellen R. Gordon, Chairman,
Tootsie Roll Industries, Inc. reported second quarter and first half
2015 net sales and net earnings.
Second quarter 2015 net sales were $107,528,000 compared to
$104,061,000 in second quarter 2014, an increase of $3,467,000 or 3%.
Second quarter 2015 net earnings were $11,059,000 compared to
$9,026,000 in second quarter 2014, and net earnings per share were
$.18 and $.14 in second quarter 2015 and 2014, respectively, an
increase of $.04 per share or 29%.
First half 2015 net sales were $213,005,000 compared to $210,873,000
in first half 2014, an increase of $2,132,000 or 1%. First half 2015
net earnings were $20,213,000 compared to $18,607,000 in first half
2014, and net earnings per share were $.33 and $.30 in first half
2015 and 2014, respectively, an increase of $.03 per share or 10%.
Mrs. Gordon said, "Second quarter and first half 2015 net sales and
net earnings benefited from successful marketing and sales programs,
product line extensions and new products. Net earnings were favorably
impacted by a foreign income tax settlement and resulting lower
effective income tax rate which added $1,066,000 or approximately
$.02 per share to both second quarter and first half net earnings.
Lower distribution expense resulting from declining energy and fuel
costs, improving manufacturing plant efficiencies driven by capital
investments, and ongoing cost containment programs also contributed
to improved results and mitigated other cost increases during the
comparative periods. Although our overall comparative ingredient
costs in both second quarter and first half 2015 were generally in
line with the corresponding periods in 2014, certain key ingredient
costs are higher this year. The Company's second quarter and first
half 2015 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
JUNE 30, 2015 & JUNE 28, 2014
SECOND QUARTER ENDED
2015 2014
Net Product Sales $ 107,528,000 $ 104,061,000
Net Earnings $ 11,059,000 $ 9,026,000
Net Earnings Per Share * $ .18 $ .14
Average Shares Outstanding * 61,611,000 62,455,000
SIX MONTHS ENDED
2015 2014
Net Product Sales $ 213,005,000 $ 210,873,000
Net Earnings $ 20,213,000 $ 18,607,000
Net Earnings Per Share * $ .33 $ .30
Average Shares Outstanding * 61,717,000 62,538,000
*Based on average shares outstanding adjusted for 3% stock dividends
distributed April 10, 2015 and April 4, 2014.