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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) July 26, 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 July 26, 1995.
Item 6. Not Applicable.
Item 7. Exhibits.
99.1 Press Release of the Company dated
July 26, 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: July 26, 1995
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EXHIBIT INDEX
Sequentially
Exhibit No. Description Numbered Page
- ----------- ----------- -------------
99.1 Press Release of the Company
dated July 26, 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, July 26, 1995)
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TAMBRANDS REPORTS SOLID GROWTH IN SECOND QUARTER
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White Plains, New York--July 26, 1995--Tambrands Inc. today reported continued
solid growth in the second quarter of 1995. Net sales for the quarter ended
June 30, 1995 were $176,338,000, an increase of 6% over sales of $165,624,000 in
the second quarter of 1994. The sales figures benefited primarily from
increased volumes, particularly in Europe, and more favorable foreign exchange
rates.
Including the previously announced litigation charge of $8,686,000 after tax,
net earnings for the quarter were $13,037,000, or $.36 per share, compared to
$20,007,000, or $.54 per share, in the second quarter of 1994. Excluding the
charge, second-quarter 1995 earnings would have been $21,723,000, or $.59 per
share, an increase of 9% over the year-ago period. The litigation charge
provided for several legal actions related to previously divested non-tampon
businesses and for the settlement of a securities class action.
Edward T. Fogarty, Tambrands' President and Chief Executive Officer, said, "Our
growth strategy is on target. Our new products, led by Satin Touch in the
United States, are doing well and helping to sustain our steadily increasing
market share and the continuing growth of the tampon category. In addition, our
international unit volumes were very strong in the second quarter, complementing
the very strong U.S. volumes in the first quarter. For the first half, volume
growth is 12%, balanced evenly between the United States and international."
For the first six months of 1995, net sales were $343,285,000, 13% ahead of
sales of $304,797,000 in the comparable period of 1994. After the second-quarter
litigation charge, net earnings for the six months were $35,859,000, or $.98 per
share, compared to earnings of $42,051,000, or $1.13 per share, in the first
half of 1994. Excluding the charge, 1995 first-half earnings would have been
$44,545,000, or $1.21 per share, up 7% over the first six months of 1994.
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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 six months
ended June 30, 1995 is attached.
# # #
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TAMBRANDS INC.
CONSOLIDATED INCOME STATEMENTS
3 Months and 6 Months Ended June 30
3 Months Ended 6 Months Ended
(In thousands, June 30 June 30
except per share ----------------- Percent ----------------- Percent
figures) 1995 1994 Change 1995 1994 Change
------ ------ ------- ------ -------- ------
NET SALES $176,338 $165,624 6 $343,285 $304,797 13
COST OF
PRODUCTS SOLD 58,428 52,590 11 113,732 96,511 18
-------- -------- -------- --------
GROSS PROFIT 117,910 113,034 4 229,553 208,286 10
SELLING, ADMIN. AND
GENERAL:
MARKETING, SELLING
AND DISTRIBUTION 66,604 65,251 2 125,288 109,573 14
ADMIN. AND GENERAL 13,907 13,557 3 27,622 27,572 -
-------- -------- -------- --------
80,511 78,808 2 152,910 137,145 11
-------- -------- -------- --------
OPERATING INCOME 37,399 34,226 9 76,643 71,141 8
INTEREST,
NET AND OTHER (2,594) (2,468) 5 (5,028) (4,392) 14
LITIGATION
CHARGE (11,396) - - (11,396) - -
-------- -------- -------- --------
EARNINGS BEFORE
PROVISION FOR INCOME
TAXES 23,409 31,758 (26) 60,219 66,749 (10)
PROVISION FOR
INCOME TAXES 10,372 11,751 (12) 24,360 24,698 (1)
-------- -------- -------- --------
NET EARNINGS $ 13,037 $ 20,007 (35) $ 35,859 $ 42,051 (15)
======== ======== ======== ========
NET EARNINGS $ 0.36 $ 0.54 (33) $ 0.98 $ 1.13 (13)
PER COMMON SHARE ======== ======== ======== ========
AVG. SHARES
OUTSTANDING 36,656 36,781 36,667 37,284
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