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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) April 23, 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 April 23, 1996.
Item 6. Not Applicable.
Item 7. Exhibits.
99.1 Press Release of the Company dated
April 23, 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: April 24, 1996
-3-
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EXHIBIT INDEX
Sequentially
Exhibit No. Description Numbered Page
- ----------- ----------- -------------
99.1 Press Release of the Company
dated April 23, 1996
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EXHIBIT 99.1
Investor Contact: Media Contact:
- ----------------- --------------
Kathy Brooks Makrakis Janey M. Loyd
(914) 696-6509 (914) 696-6330
FOR IMMEDIATE RELEASE (Tuesday, April 23, 1996)
- -------------------------------------------------
TAMBRANDS REPORTS FIRST-QUARTER GAINS
-------------------------------------
White Plains, New York--April 23, 1996--Tambrands Inc. (NYSE:TMB) today
announced that sales and earnings for the first quarter of 1996 exceeded the
year-ago period. For the quarter ended March 31, 1996, net sales were
$168,989,000, 1% higher than sales of $166,947,000 in the first quarter of 1995.
Worldwide unit volume was 1% below the record-breaking volume of the 1995 first
quarter.
Net earnings for the first quarter improved to $23,630,000, 4% above the
$22,822,000 earned in the year-ago period. The Company earned $0.64 per share,
up 3% from first-quarter 1995 earnings of $0.62 per share.
Edward T. Fogarty, President and Chief Executive Officer of Tambrands,
commenting at the Annual Meeting of Shareholders held earlier today, said that
the first quarter was "successful despite a high level of competitive activity
and a comparison with the very strong first quarter of 1995." He also discussed
Tambrands' extensive new product activity: "Early results are excellent for our
new all-cotton Tampax Naturals, which began shipping in the U.S. market during
the first quarter. In addition, Tampax Non-Applicator was launched in France
and Australia with good early results. The combination of building new product
momentum and significantly increased marketing support levels puts us in a
strong position going forward in 1996."
The Company also announced that the Board of Directors today declared a regular
quarterly dividend of $.46 per share, payable on June 17, 1996 to shareholders
of record on June 3, 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 millions of women.
A summary of consolidated operating results for the three months ended March 31,
1996 is attached.
# # #
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TAMBRANDS INC.
CONSOLIDATED INCOME STATEMENTS
3 Months Ended March 31
<TABLE>
<CAPTION>
3 Months Ended
March 31
(In thousands, except -------- Percent
per share figures) 1996 1995 Change
--------- --------- -------
<S> <C> <C> <C>
NET SALES $168,989 $166,947 1
COST OF PRODUCTS SOLD 55,841 55,304 1
-------- --------
GROSS PROFIT 113,148 111,643 1
SELLING, ADMIN.
AND GENERAL:
MARKETING, SELLING
AND DISTRIBUTION 60,453 58,684 3
ADMIN. AND GENERAL 13,482 13,715 (2)
-------- --------
73,935 72,399 2
-------- --------
OPERATING INCOME 39,213 39,244 --
INTEREST, NET AND OTHER (2,117) (2,434) (13)
--------
EARNINGS BEFORE PROVISION
FOR INCOME TAXES 37,096 36,810 1
PROVISION FOR INCOME TAXES 13,466 13,988 (4)
-------- --------
NET EARNINGS $ 23,630 $ 22,822 4
======== ========
NET EARNINGS PER COMMON SHARE $ 0.64 $ 0.62 3
======== ========
AVERAGE SHARES OUTSTANDING 36,775 36,685
</TABLE>
