<PAGE>
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
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Date of Report (Date of earliest
event reported) February 1, 1995
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 a press release on February 1, 1995.
Item 6. Not Applicable.
Item 7. Exhibits.
99.1 Press Release of the Company dated
February 1, 1995.
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
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Name: Raymond F. Wright
Title: Senior Vice President --
Chief Financial Officer
Date: February 1, 1995
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EXHIBIT INDEX
Sequentially
Exhibit No. Description Numbered Page
- - - - - ----------- ----------- -------------
99.1 Press Release of the Company
dated February 1, 1995
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EXHIBIT 99.1
Investor Contact: Media Contact:
- - - - - ----------------- --------------
Kathy B. Makrakis Bruce P. Garren
(914) 696-6509 (914) 696-6540
FOR IMMEDIATE RELEASE (Wednesday, February 1, 1995)
- - - - - ---------------------------------------------------
TAMBRANDS REPORTS GAINS
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IN FOURTH-QUARTER AND FULL-YEAR 1994 RESULTS
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White Plains, New York--February 1, 1995--Tambrands Inc. (NYSE:TMB) today
reported solid growth in sales and earnings for the fourth quarter and the year
ended December 31, 1994.
Net sales for the quarter were $164,380,000, an increase of 12% over sales of
$146,659,000 reported in the fourth quarter of 1993. The higher sales reflected
very strong U.S. unit volumes, aided by shipments of the newly introduced Tampax
Satin Touch tampons. Net earnings were $22,654,000, 7% more than fourth-quarter
1993 earnings of $21,074,000. Earnings per share increased to $0.62 in the
fourth quarter of 1994, up 13% from earnings per share of $0.55 in the same
period of 1993. Earnings per share increased at a higher rate than net earnings
because Tambrands' stock buybacks reduced the number of shares outstanding.
Companywide marketing, selling and distribution expenses in the quarter were
above last year's levels, as Tambrands continued its increased marketing
spending. This increased spending was partially offset by reductions in
administrative expenses, driven principally by the Company's continuing overhead
reduction programs.
For the full-year 1994, net sales were $644,513,000, 5% higher than 1993 sales
of $611,465,000, reflecting increased worldwide volumes. Net earnings for the
year were $89,729,000, or $2.43 per share, compared to earnings before the
cumulative effect of accounting change of $73,702,000, or $1.91 per share, in
1993. Excluding also the second-quarter 1993 restructuring charge, net earnings
for 1993 were $93,975,000.
Edward T. Fogarty, President and Chief Executive Officer, said, "The fundamental
strength of the Tampax franchise reasserted
--more--
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itself in 1994. Tampax U.S. advertising helped drive tampon retail unit growth
of 3.0% for the year, on top of 3.6% growth in 1993. Our U.S. market share grew
steadily throughout 1994, finishing ahead of year-ago levels, and our new
products did well in the United States, Canada, the United Kingdom and France.
We now enter 1995 with real momentum, very much on the offensive, and poised for
further growth."
Tambrands has manufactured Tampax(R) tampons for almost 60 years, and today is
the market leader worldwide. Tampax tampons are sold in over 150 countries;
major markets include the United States, the United Kingdom, France, Canada,
Spain and Russia.
A summary of consolidated operating results for the three months and full year
ended December 31, 1994 is attached.
# # #
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TAMBRANDS INC.
CONSOLIDATED INCOME STATEMENT
3 Months and 12 Months Ended December 31
<TABLE>
<CAPTION>
(In thousands, 3 Months Ended 12 Months Ended
except per share December 31 December 31*
figures) ----------------- Percent ---------------- Percent
1994 1993 Change 1994 1993 Change
------ ------ ------- ------ ------ -------
<S> <C> <C> <C> <C> <C> <C>
NET SALES $164,380 $146,659 12 $644,513 $611,465 5
COST OF
PRODUCTS SOLD 51,867 50,448 3 206,111 201,706 2
-------- -------- -------- --------
GROSS PROFIT 112,513 96,211 17 438,402 409,759 7
SELLING, ADMIN. AND
GENERAL:
MARKETING, SELLING
AND DISTRIBUTION 61,599 48,570 27 233,753 202,031 16
ADMIN. AND GENERAL 12,772 16,262 (21) 53,034 61,378 (14)
RESTRUCTURING AND
OTHER CHARGES - - -- - 30,042 --
-------- -------- -------- --------
74,371 64,832 15 286,787 293,451 (2)
-------- -------- -------- --------
OPERATING INCOME 38,142 31,379 22 151,615 116,308 30
INTEREST,
NET AND OTHER (2,859) 1,962 -- (9,864) 2,344 --
-------- -------- -------- --------
EARNINGS BEFORE
PROVISION FOR INCOME
TAXES AND CUM. EFFECT
OF ACCT. CHANGE 35,283 33,341 6 141,751 118,652 19
PROVISION FOR
INCOME TAXES 12,629 12,267 3 52,022 44,950 16
-------- -------- -------- --------
EARNINGS BEFORE
CUMULATIVE EFFECT
OF ACCT. CHANGE 22,654 21,074 7 89,729 73,702 22
CUMULATIVE EFFECT
OF ACCT. CHANGE - - -- - (10,252) --
-------- -------- -------- --------
NET EARNINGS $ 22,654 $ 21,074 7 $ 89,729 $ 63,450 41
======== ======== ======== ========
PER COMMON SHARE:
EARNINGS BEFORE
CUMULATIVE EFFECT
OF ACCT. CHANGE $ 0.62 $ 0.55 13 $ 2.43 $ 1.91 27
CUMULATIVE EFFECT
OF ACCT. CHANGE - - -- - (0.27) --
-------- -------- -------- --------
NET EARNINGS $ 0.62 $ 0.55 13 $ 2.43 $ 1.64 48
======== ======== ======== ========
AVG. SHARES
OUTSTANDING 36,661 38,410 36,992 38,632
</TABLE>
*Reflects adoption of SFAS No. 112 effective 1/1/93.
