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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) January 31, 1996
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 January 31, 1996.
Item 6. Not Applicable.
Item 7. Exhibits.
99.1 Press Release of the Company dated
January 31, 1996.
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/Susan J. Riley
--------------------------------------
Name: Susan J. Riley
Title: Senior Vice President --
Chief Financial Officer
Date: January 31, 1996
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EXHIBIT INDEX
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<CAPTION>
Sequentially
Exhibit No. Description Numbered Page
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<S> <C> <C>
99.1 Press Release of the Company
dated January 31, 1996
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[LETTER HEAD OF TAMBRANDS]
Investor Contact: Media Contact:
- ----------------- --------------
Kathy B. Makrakis Bruce P. Garren (914) 696-6540
(914) 696-6509 Janey Loyd (914) 696-6330
FOR IMMEDIATE RELEASE (Wednesday, January 31, 1996)
- -----------------------------------------------------
TAMBRANDS REPORTS RECORD TAMPON SALES FOR 1995
----------------------------------------------
White Plains, New York--January 31, 1996--Tambrands Inc. (NYSE:TMB) reported
today that its 1995 tampon sales -- in both dollars and units -- reached record
high levels for any year in the Company's history.
Net sales for the year were $683,092,000, an increase of 6% over 1994 net sales
of $644,513,000 and higher than the previous Company record for tampon sales of
$663,372,000, set in 1992. Unit sales also increased about 6% over 1994, evenly
balanced between volume from the United States and International businesses.
After the previously announced second-quarter litigation charge, net earnings
for 1995 were $85,522,000, or $2.33 per share, compared to $89,729,000, or $2.43
per share, in the prior year. 1995 earnings, excluding the charge, were
$94,208,000, or $2.57 per share, up 6% over 1994.
Edward T. Fogarty, President and Chief Executive Officer, commented on the
record year: "The first full year of our growth strategy exceeded our
expectations. Even though we considered 1995 to be a transition year, we
achieved strong growth in unit and dollar sales, earnings and earnings per
share, and overall shareholder value. And we accomplished this in an environment
of increasing competition and escalating raw material costs. We enter 1996 well-
positioned to continue our growth and to build on this success."
Net sales in the fourth quarter of 1995 were $161,691,000, compared to sales of
$164,380,000 in the same period of 1994. Net earnings in the 1995 fourth quarter
were $22,957,000, or $0.63 per share, compared to $22,654,000, or $0.62 in the
fourth quarter of 1994.
The Company also announced that the Board of Directors yesterday declared a
regular quarterly dividend of $.46 per share, payable on March 15, 1996 to
shareholders of record on March 1, 1996.
Tambrands has manufactured Tampax(R) tampons for 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. Tambrands can now be reached on
the Internet World Wide Web at http://www.tampax.com.
A summary of consolidated operating results for the three months and full year
ended December 31, 1995 is attached.
# # #
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TAMBRANDS INC.
CONSOLIDATED INCOME STATEMENTS
3 Months and 12 Months Ended December 31
<TABLE>
<CAPTION>
(In thousands, 3 Months Ended 12 Months Ended
except per share December 31 Percent December 31 Percent
------------------ ------------------
figures) 1995 1994 Change 1995 1994 Change
------ ------ ------ ------ ------ ------
<S> <C> <C> <C> <C> <C> <C>
NET SALES $161,691 $164,380 (2) $683,092 $644,513 6
COST OF
PRODUCTS SOLD 56,605 51,867 9 231,625 206,111 12
-------- -------- -------- --------
GROSS PROFIT 105,086 112,513 (7) 451,467 438,402 3
SELLING, ADMIN. AND
GENERAL:
MARKETING, SELLING
AND DISTRIBUTION 55,378 61,599 (10) 238,558 233,753 2
ADMIN. AND GENERAL 11,223 12,772 (12) 52,546 53,034 (1)
-------- -------- -------- --------
66,601 74,371 (10) 291,104 286,787 2
-------- -------- -------- --------
OPERATING INCOME 38,485 38,142 1 160,363 151,615 6
INTEREST,
NET AND OTHER (2,303) (2,859) (19) (9,632) (9,864) (2)
LITIGATION
CHARGE - - - (11,396) - -
-------- -------- -------- --------
EARNINGS BEFORE
PROVISION FOR INCOME
TAXES 36,182 35,283 3 139,335 141,751 (2)
PROVISION FOR
INCOME TAXES 13,225 12,629 5 53,813 52,022 3
-------- -------- -------- --------
NET EARNINGS $ 22,957 $ 22,654 1 $ 85,522 $ 89,729 (5)
======== ======== ======== ========
NET EARNINGS
PER COMMON SHARE $ 0.63 $ 0.62 2 $ 2.33 $ 2.43 (4)
======== ======== ======== ========
AVG. SHARES
OUTSTANDING 36,697 36,661 36,671 36,992
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