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 Tuesday, April 24, 2012
CHICAGO, ILLINOIS - April 24, 2012 - Melvin J. Gordon, Chairman,
Tootsie Roll Industries, Inc. reported first quarter months 2012 net
sales and net earnings.
First quarter 2012 net sales were $109,763,000 compared to
$108,323,000 in first quarter 2011, an increase of $1,440,000 or
1%. First quarter 2012 net earnings were $8,774,000 compared to
$8,330,000 in first quarter 2011, and net earnings per share were
$.15 and $.14 in first quarter 2012 and 2011, respectively, an
increase of $.01 per share or 7%.
Mr. Gordon said, "First quarter 2012 net sales benefited from
higher sales due to effective selling programs and price
increases needed to recover higher input costs. First quarter
2012 net earnings were adversely affected by higher input costs
principally relating to ingredients, packaging materials, and
freight and delivery. Although first quarter 2012 was also
adversely affected by less favorable foreign exchange, first
quarter 2012 was favorably impacted by a lower effective income
tax rate. The Company's first quarter 2012 net earnings per share
also 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, 2012 & APRIL 2, 2011
FIRST QUARTER ENDED
2012 2011
Net Product Sales $ 109,763,000 $ 108,323,000
Net Earnings $ 8,774,000 $ 8,330,000
Net Earnings Per Share * $ .15 $ .14
Average Shares Outstanding * 59,058,000 59,806,000
*Based on average shares outstanding adjusted for 3% stock dividends
distributed April 5, 2012 and April 7, 2011
