Attached files
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
