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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
_____________________
Date of Report (Date of earliest
event reported) April 26,1994
Tambrands Inc.
(Exact name of registrant as specified in its charter)
Delaware 1-8714 13-1366500
(State of (Commission File Number) (IRS Employer
incorporation) Identification No.)
777 Westchester Avenue, White Plains, New York 10604
(Address of principal executive offices) (Zip Code)
(914) 696-6000
(Registrant's telephone number,
including area code)
N/A
(Former name or former address, if changed since last report)
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Items 1-4. Not Applicable.
Item 5. Other Events.
The Company issued two press releases on April 26, 1994.
Item 6. Not Applicable.
Item 7. Exhibits.
99.1 Press Release of the Company dated April 26,
1994.
99.2 Press Release of the Company dated April 26,
1994.
Item 8. Not Applicable.
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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 undersigned thereunto duly authorized.
Tambrands Inc.
By /s/ Raymond F. Wright
Name: Raymond F. Wright
Title: Senior Vice President--
Chief Financial Officer
Date: April 27, 1994
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EXHIBIT INDEX
Sequentially
Exhibit No. Description Numbered Page
99.1 Press Release of the Company
dated April 26, 1994.
99.2 Press Release of the Company
dated April 26, 1994.
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Exhibit 99.1
NEWS RELEASE
Investor Contact: Media Contact:
K. B. Makrakis Bruce P. Garren
(914) 696-6509 (914) 696-6540
FOR IMMEDIATE RELEASE (Tuesday, April, 26, 1994)
TAMBRANDS REPORTS FIRST-QUARTER RESULTS
White Plains, New York--April 26, 1994--Tambrands Inc. (NYSE:TMB) today
reported sales and earnings for the first quarter of 1994.
Howard B. Wentz, Jr., Chairman of the Board, announced that net sales for
the quarter were $139,173,000, compared to $154,348,000 in the first
quarter of 1993. Sales were down principally because of lower U.S.
volumes, which resulted primarily from a continuing reduction in trade
customer inventory. Also, last year's first quarter included introductory
shipments of a new 20-count package size.
Net earnings were $22,044,000, or $.58 per share, compared to $21,939,000,
or $.56 per share, in the first quarter of 1993. First-quarter 1993 has
been restated to reflect the cumulative effect of a change in the method of
accounting for postemployment benefits, as previously announced. Without
the restatement, earnings for last year's first quarter were $.82 per
share.
Wentz said, "In the first quarter, we continued to see strong growth of the
tampon category in the United States, supported by our successful
advertising campaign. However, the Tampax market share was adversely
affected by the heavy promotional activity of our competitors." Marketing,
selling and distribution expenses in the quarter were above last year's
levels, as the Company continued its increased marketing spending.
The Company also announced that the Board of Directors today declared a
regular quarterly dividend of $.42 per share, payable on June 15, 1994 to
shareholders of record on June 3, 1994.
Tambrands manufactures Tampax(R) tampons and markets them around the world.
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TAMBRANDS INC.
CONSOLIDATED INCOME STATEMENT
3 Months Ended March 31
<TABLE>
<CAPTION>
(In thousands, 3 Months Ended March 31 Percent
except per share figures) 1994 1993* Change
<S> <C> <C> <C>
NET SALES $139,173 $154,348 (10)
COST OF PRODUCTS SOLD 43,921 49,218 (11)
GROSS PROFIT 95,252 105,130 (9)
SELLING, ADMINISTRATIVE AND GENERAL:
MARKETING, SELLING AND DISTRIBUTION 44,322 40,377 10
ADMINISTRATIVE AND GENERAL 14,015 14,311 (2)
58,337 54,688 7
OPERATING INCOME 36,915 50,442 (27)
INTEREST, NET AND OTHER (1,924) 656 --
EARNINGS BEFORE PROVISION FOR INCOME TAXES AND
CUMULATIVE EFFECT OF ACCT. CHANGE 34,991 51,098 (32)
PROVISION FOR INCOME TAXES 12,947 18,907 (32)
EARNINGS BEFORE CUMULATIVE EFFECT OF ACCT. CHANGE 22,044 32,191 (32)
CUMULATIVE EFFECT OF ACCT. CHANGE -- (10,252) --
NET EARNINGS $ 22,044 $ 21,939 --
PER COMMON SHARE:
EARNINGS BEFORE CUMULATIVE EFFECT OF ACCT. CHANGE $ 0.58 $ 0.82 (29)
CUMULATIVE EFFECT OF ACCT. CHANGE -- (0.26) --
NET EARNINGS $ 0.58 $ 0.56 4
AVG. SHARES OUTSTANDING 37,715 39,133
<FN>
* Reflects adoption of SFAS No. 112 effective 1/1/93.
</TABLE>
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Exhibit 99.2
NEWS RELEASE
Investor Contact: Media Contact:
K. B. Makrakis Bruce P. Garren
(914) 696-6509 (914) 696-6540
FOR IMMEDIATE RELEASE (Tuesday, April, 26, 1994)
TAMBRANDS NAMES EDWARD T. FOGARTY AS PRESIDENT AND CEO
White Plains, New York--April 26, 1994--Tambrands Inc. (NYSE:TMB) announced
today that Edward T. Fogarty, 57, has been named President and Chief
Executive Officer effective May 31, 1994. He will also be a member of the
Board of Directors. Mr. Fogarty is currently President-USA/Canada/Puerto
Rico for Colgate-Palmolive Company. Howard B. Wentz, Jr., will remain
Chairman of the Board.
In announcing the appointment, Mr. Wentz said, "The Board and I are
extremely pleased that Ed Fogarty will be joining Tambrands as CEO. He is
a first-rate consumer products marketer and has extensive U.S. and
international experience with Colgate, Corning, Playtex and Clairol. Most
importantly, Ed is highly committed to bottom-line results through
organizational excellence. In short, he is eminently qualified to
implement Tambrands' global strategy. I am convinced that Ed's
intelligence and vision will lead this Company to excellent financial
results."
Mr. Fogarty began his career at Colgate, where he held positions of
increasing responsibility in U.S. and international management from 1961 to
1972. Prior to rejoining Colgate in 1989, Mr. Fogarty had been Senior Vice
President and President, Consumer Products Division, at Corning Inc.
Before that, he held a series of management positions including General
Manager of the Clairol Division of Bristol-Myers and President of the
International Division of International Playtex.
Mr. Fogarty received his B.A. from Harvard University and his M.B.A. from
Harvard Business School. He is married and lives in Darien, Connecticut
with his wife, Patsy. They have three children.
Tambrands manufactures Tampax(R) tampons and markets them around the world.
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