TOOTSIE ROLL INDUSTRIES, INC7401 South Cicero Avenue
Chicago, IL 60629
Phone 773/838-3400
Fax 773/838-3534
PRESS RELEASESTOCK TRADED: NYSE FOR IMMEDIATE RELEASE
TICKER SYMBOL: TR Tuesday, February 9, 2016
CHICAGO, ILLINOIS - February 9, 2016 - Ellen R. Gordon, Chairman, Tootsie Roll Industries, Inc. reported fourth quarter and twelve months 2015 net sales and net earnings.
Fourth quarter 2015 net sales were $139,881,000 compared to $137,929,000 in fourth quarter 2014, an increase of $1,952,000 or 1%. Fourth quarter 2015 net earnings were $19,705,000 compared to $18,023,000 in fourth quarter 2014, and net earnings per share were $.32 and $.29 in fourth quarter 2015 and 2014, respectively, an increase of $.03 or 10%.
Twelve months 2015 net sales were $536,692,000 compared to $539,895,000 in twelve months 2014, a decrease of $3,203,000 or 1%. Twelve months 2015 net earnings were $66,089,000 compared to $63,298,000 in twelve months 2014, and net earnings per share were $1.08 and $1.02 in twelve months 2015 and 2014, respectively, an increase of $.06 per share or 6%.
Mrs. Gordon said, "While we finished 2015 with a 3% increase in fourth quarter domestic sales, our reported consolidated sales for fourth quarter 2015 were adversely impacted by foreign currency translation due to the strength of the U.S. dollar. Twelve months 2015 domestic sales were ahead of 2014, and twelve months 2015 consolidated sales were also adversely affected by unfavorable foreign currency translation, principally Mexico and Canada. Fourth quarter and twelve months 2015 net earnings benefited from lower distribution and delivery expenses including the effects of declining energy and fuel costs, improving manufacturing plant efficiencies driven by capital investments, more favorable ingredient costs, and ongoing cost containment programs. Although our overall comparative ingredient costs in both fourth quarter and twelve months 2015 were somewhat more favorable compared to the corresponding periods in the prior year, certain key ingredient costs were higher in 2015, and we expect overall ingredient costs to be higher in 2016. Net earnings in both fourth quarter and twelve months 2015 were also favorably impacted by a lower effective income tax rate primarily due to the favorable settlement of outstanding tax matters. The Company's fourth quarter and twelve months 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
DECEMBER 31, 2015 & DECEMBER 31, 2014
FOURTH QUARTER ENDED
2015
2014
Net Product Sales
$139,881,000
$137,929,000
Net Earnings
$19,705,000
$18,023,000
Net Earnings Per Share*
$0.32
$0.29
Average Shares Outstanding*
60,991,000
62,047,000
TWELVE MONTHS ENDED
2015
2014
Net Product Sales
$536,692,000
$539,895,000
Net Earnings
$66,089,000
$63,298,000
Net Earnings Per Share*
$1.08
$1.02
Average Shares Outstanding*
61,441,000
62,358,000
Tootsie Roll Industries Inc. issued this content on 09 February 2016 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 09 February 2016 22:32:26 UTC
Tootsie Roll Industries, Inc. is engaged in the manufacturing and sale of confectionery products. The Company's products are marketed in a variety of packages designed to be suitable for display and sale in different types of retail outlets. They are sold through food and grocery brokers or directly by the Company itself to customers throughout the United States, Canada and Mexico. These customers include wholesale distributors of candy, food and groceries, supermarkets, variety stores, dollar stores, chain grocers, drug chains, discount chains, cooperative grocery associations, mass merchandisers, warehouse and membership club stores, and e-commerce merchants. Its products are sold under the registered trademarks, which include TOOTSIE ROLL, TOOTSIE FRUIT ROLLS, FROOTIES, TOOTSIE POPS, TOOTSIE MINI POPS, CHILDâS PLAY, CARAMEL APPLE POPS, CHARMS, BLOW-POP, CHARMS MINI POPS, CELLAâS, DOTS, SUGAR BABIES, ANDES, FLUFFY STUFF, DUBBLE BUBBLE, RAZZLES, CRY BABY, and TUTSI POP (Mexico).
TOOTSIE ROLL INDUSTRIES, INC. 
