tootsieroll_ar2004

tootsieroll_ar2004 - Tootsie Roll Industries, Inc. Annual...

Info iconThis preview shows pages 1–4. Sign up to view the full content.

View Full Document Right Arrow Icon
Annual Report 2004 Tootsie Roll Industries, Inc.
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
11MAR20050046 Corporate Profile Tootsie Roll Industries, Inc. has been engaged in the manufacture and sale of confectionery products for 108 years. Our products are primarily sold under the familiar brand names, Tootsie Roll, Tootsie Roll Pops, Caramel Apple Pops, Child’s Play, Charms, Blow Pop, Blue Razz, Cella’s chocolate covered cherries, Mason Dots, Mason Crows, Junior Mints, Charleston Chew, Sugar Daddy, Sugar Babies, Andes, Fluffy Stuff cotton candy, Dubble Bubble, Razzles, Cry Baby, Nik-L-Nip and EI Bubble. Corporate Principles We believe that the differences among companies are attributable to the caliber of their people, and therefore we strive to attract and retain superior people for each job. We believe that an open family atmosphere at work combined with professional management fosters cooperation and enables each individual to maximize his or her contribution to the company and realize the corresponding rewards. We do not jeopardize long-term growth for immediate, short-term results. We maintain a conservative financial posture in the deployment and management of our assets. We run a trim operation and continually strive to eliminate waste, minimize cost and implement performance improvements. We invest in the latest and most productive equipment to deliver the best quality product to our customers at the lowest cost. We seek to outsource functions where appropriate and to vertically integrate Melvin J. Gordon, Chairman and Chief Executive Officer and operations where it is financially advantageous to do so. Ellen R. Gordon, President and Chief Operating Officer . We view our well known brands as prized assets to be aggressively advertised and promoted to each new generation of consumers. We conduct business with the highest ethical standards and integrity which are codified in the Company’s ‘‘Code of Business Conduct and Ethics.’’ 1
Background image of page 2
9MAR200503533285 To Our Shareholders Sales in 2004 increased to • Cash dividends were paid for without incurring undue leverage or Halloween was once again our putting the company at financial risk. strongest sales period. Our bagged $420 million compared to 2003 sales the sixty-second consecutive Of the $154 million borrowed in goods, in particular our popular of $392 million. This represents a year, earning us recognition August in conjunction with the mixed bags assortments such as new record level of sales for the as a ‘‘Dividend Aristocrat’’ by Concord purchase, approximately Childs Play, continued to sell well company. Standard & Poors and a 40% or $62 million was paid back, through the mass merchandise, ‘‘Dividend Achiever’’ by Net earnings in 2004 were and cash and investments, net of drug, supermarket and warehouse Mergent.
Background image of page 3

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 4
This is the end of the preview. Sign up to access the rest of the document.

Page1 / 24

tootsieroll_ar2004 - Tootsie Roll Industries, Inc. Annual...

This preview shows document pages 1 - 4. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online