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
April 27, 2006
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 April 27, 2006, Tootsie Roll Industries, Inc. issued a press release
(the "release") announcing its results of operations and financial condition for
the first quarter ended April 1, 2006. 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
April 27, 2006.
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.
April 27, 2006 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 April 27, 2006.
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, 2006
CHICAGO, ILLINOIS - April 27, 2006 - Melvin J. Gordon, Chairman,
Tootsie Roll Industries, Inc. reported first quarter 2006 sales
and earnings. First quarter 2006 sales were $103,822,000 compared
to $97,925,000 in first quarter 2005, an increase of $5,897,000
or 6%. First quarter 2006 net earnings were $12,361,000 compared
to $12,506,000 in first quarter 2006, and earnings per share were
$.23 in both first quarter 2006 and 2005.
Mr. Gordon said, "First quarter 2006 sales reflect increases in
substantially all of the Company's core brands due to successful
marketing programs. However, this sales improvement did not translate
into increased profits due to higher input costs principally relating
to major ingredients, energy, fuel and transportation. Although the
Company has taken action and implemented programs, including price
increases, to recover these cost increases and restore margins, the
Company's first quarter 2006 results only partially benefited from
these initiatives. First quarter results were aided by decreased
interest expense and increased investment income. The Company's per
share earnings also benefited from common stock purchases in the open
market in 2005 and 2006 and resulting fewer shares outstanding."
TOOTSIE ROLL INDUSTRIES, INC.
CONSOLIDATED STATEMENTS OF EARNINGS
FOR THE 13 WEEKS ENDED APRIL 1, 2006 & APRIL 2, 2005
FIRST QUARTER ENDED
2006 2005
Net Sales $103,822,000 $ 97,925,000
Net Earnings $ 12,361,000 $ 12,506,000
*Earnings Per Share $0.23 $0.23
*Average Shares Outstanding 54,697,000 55,303,000
*Based on average shares outstanding adjusted for 3% stock
dividends distributed April 13, 2006 and April 14, 2005.