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			Wednesday, February 8, 2017



CHICAGO, ILLINOIS - February 8, 2017 - Ellen R. Gordon,
Chairman, Tootsie Roll Industries, Inc. reported fourth
quarter and twelve months 2016 net sales and net earnings.

Fourth quarter 2016 net sales were $124,279,000 compared to
$139,881,000 in fourth quarter 2015, a decrease of $15,602,000 or 11%.
Fourth quarter 2016 net earnings were $17,841,000 compared to
$19,705,000 in fourth quarter 2015, and net earnings per share were
$.29 and $.31 in fourth quarter 2016 and 2015, respectively,
a decrease of $.02 or 6%.

Twelve months 2016 net sales were $517,373,000 compared to
$536,692,000 in twelve months 2015, a decrease of $19,319,000 or 4%.
Twelve months 2016 net earnings were $67,510,000 compared to
$66,089,000 in twelve months 2015, and net earnings per share were
$1.08 and $1.04 in twelve months 2016 and 2015, respectively, an
increase of $.04 per share or 4%.

Mrs. Gordon said, "Fourth quarter 2016 net sales were adversely
affected by the timing of certain customer sales at the beginning
and end of the quarter when compared to the prior year fourth quarter.
The timing of sales between fourth quarter 2016 and first quarter 2017
also had some adverse effect on twelve months 2016 sales when
compared to the twelve months in the prior year.  In addition, the
effects of a stronger U.S. dollar and related currency translation of
foreign sales contributed to lower sales in both fourth quarter and
twelve months 2016. Higher price realization on sales, continuing
improvements in manufacturing plant efficiencies driven by
capital investments, and ongoing cost containment programs
contributed to higher net earnings in twelve months 2016
compared to 2015.  These benefits, however, were not enough
to overcome the impact of the sales decline in fourth quarter 2016
as discussed above. Net earnings for fourth quarter and twelve
months 2016 were adversely impacted by higher costs for
ingredients and additional costs relating to changes in product
labeling requirements. Net earnings in the prior year fourth quarter
and twelve months 2015 benefited from favorable income tax
settlements including a foreign income tax settlement.
These resulting lower effective income tax rates in fourth quarter
and twelve months 2015 adversely affects the comparison to the 2016
corresponding periods. The Company's fourth quarter and
twelve months 2016 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, 2016 & 2015

                                             FOURTH QUARTER ENDED
                                            2016              2015

Net Product Sales                      $ 124,279,000     $ 139,881,000

Net Earnings                           $  17,841,000     $  19,705,000

Net Earnings Per Share   *                 $ .29             $ .31

Average Shares Outstanding *              61,860,000        62,806,000


                                               TWELVE MONTHS ENDED
                                            2016              2015

Net Product Sales                      $ 517,373,000     $ 536,692,000

Net Earnings                           $  67,510,000      $ 66,089,000

Net Earnings Per Share   *                 $1.08             $1.04

Average Shares Outstanding *              62,239,000        63,256,000



  *Based on average shares outstanding adjusted for 3% stock dividends
   distributed April 8, 2016 and April 10, 2015