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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) October 25, 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 October 25, 1995.
Item 6. Not Applicable.
Item 7. Exhibits.
99.1 Press Release of the Company dated
October 25, 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: October 25, 1995
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EXHIBIT INDEX
Sequentially
Exhibit No. Description Numbered Page
- ----------- ----------- -------------
99.1 Press Release of the Company
dated October 25, 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, October 25, 1995)
- ---------------------------------------------------
TAMBRANDS REPORTS RECORD THIRD-QUARTER SALES;
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ANNOUNCES 44th ANNUAL DIVIDEND INCREASE
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White Plains, New York--October 25, 1995--Tambrands Inc. (NYSE:TMB) today
reported third-quarter results that included record sales and improved earnings.
Net sales for the quarter ended September 30, 1995 were $178,116,000, an
increase of 2% over sales of $175,336,000 in the third quarter of 1994. Net
earnings were $26,706,000, 7% more than third-quarter 1994 earnings of
$25,024,000. Earnings per share increased to $0.73 in the third quarter of
1995, also up 7% from earnings per share of $0.68 in the same period of 1994.
Edward T. Fogarty, President and Chief Executive Officer, said, "These results
provide further support for our growth strategy. This quarter sets a new
Tambrands record for any third quarter in both sales dollars and units. Our
U.S. market share is up over last year as is the tampon category, and our
international results continue to gain momentum. And we are laying the
foundation for future growth with the recently announced relaunch of our
flagship Tampax tampon and introduction of Tampax Naturals -- the only U.S.
tampon or pad made from 100% cotton."
For the first nine months of 1995, net sales were $521,401,000, up 9% from
$480,133,000 in the comparable period of 1994. After the previously announced
second-quarter litigation charge, net earnings for the nine months were
$62,565,000, or $1.71 per share, compared to earnings of $67,075,000, or $1.81
per share, in the first nine months of 1994. Excluding the charge, earnings for
the first nine months of 1995 would have been $71,251,000, or $1.94 per share,
up 7% over the comparable period of 1994.
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The Company also announced that its Board of Directors had voted to increase the
regular quarterly dividend on the Company's common stock from 44 to 46 cents per
share. This is the forty-fourth consecutive year that the Company has increased
its dividend. The increased dividend will be payable on December 15, 1995 to
shareholders of record on December 1, 1995.
Said Fogarty, "The Board and management have increased confidence in the
strength of this business, and raising the dividend is one expression of that
confidence. Tambrands is extremely proud of its long history of dividend
increases, which few companies can match."
Tambrands has manufactured Tampax(R) tampons for almost 60 years, and today is
the worldwide market leader. Tampax tampons are sold in over 150 countries and
are used with confidence by over 100 million women.
A summary of consolidated operating results for the three months and nine months
ended September 30, 1995 is attached.
# # #
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TAMBRANDS INC.
CONSOLIDATED INCOME STATEMENTS
3 Months and 9 Months Ended September 30
3 Months Ended 9 Months Ended
(In thousands, September 30 September 30
except per share ------------------- Percent ------------------ Percent
figures) 1995 1994 Change 1995 1994 Change
------ ------ ------ ------ ------ -------
NET SALES $178,116 $175,336 2 $521,401 $480,133 9
COST OF
PRODUCTS SOLD 61,288 57,733 6 175,020 154,244 13
-------- -------- -------- --------
GROSS PROFIT 116,828 117,603 (1) 346,381 325,889 6
SELLING, ADMIN. AND
GENERAL:
MARKETING, SELLING
AND DISTRIBUTION 57,892 62,581 (7) 183,180 172,154 6
ADMIN. AND GENERAL 13,701 12,690 8 41,323 40,262 3
-------- -------- -------- --------
71,593 75,271 (5) 224,503 212,416 6
-------- -------- -------- --------
OPERATING INCOME 45,235 42,332 7 121,878 113,473 7
INTEREST,
NET AND OTHER (2,301) (2,613) 12 (7,329) (7,005) (5)
LITIGATION
CHARGE - - - (11,396) - -
-------- -------- -------- --------
EARNINGS BEFORE
PROVISION FOR INCOME
TAXES 42,934 39,719 8 103,153 106,468 (3)
PROVISION FOR
INCOME TAXES 16,228 14,695 10 40,588 39,393 3
-------- -------- -------- --------
NET EARNINGS $ 26,706 $ 25,024 7 $ 62,565 $ 67,075 (7)
======== ======== ======== ========
NET EARNINGS
PER COMMON SHARE $ 0.73 $ 0.68 7 $ 1.71 $ 1.81 (6)
======== ======== ======== ========
AVG. SHARES
OUTSTANDING 36,640 36,645 36,661 37,090
