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TAMBRANDS REPORTS RECORD HIGH FIRST-QUARTER EARNINGS AND ANNOUNCES ADDITIONAL SHARE REPURCHASE

 WHITE PLAINS, N.Y., April 27 /PRNewswire/ -- Tambrands Inc. (NYSE: TMB) had record first-quarter earnings, Martin F.C. Emmett, chairman and chief executive officer, announced today.
 Earnings per share for the quarter ended March 31, 1993, increased to $.82, up 17 percent from restated earnings per share of $.70 in the first quarter of 1992. Net earnings were $32,191,000, an increase of 14 percent over restated earnings of $28,300,000 in the first quarter of 1992. First-quarter 1993 earnings set a record high for any first quarter. First-quarter 1992 has been restated to reflect the cumulative effect of a change in the method of accounting for post-retirement benefits.
 Net sales in the first quarter of 1993 were $154,348,000, compared to sales of $174,886,000 in the first quarter of 1992. Sales were lower in the first quarter of 1993 due to several factors: the divestiture of Tambrands' Maxithins sanitary pad business in 1992; the sale of sanitary pad and diaper businesses in Brazil and Mexico last year; the weakening of European currencies; and lower volume in the United States.
 Marketing, selling and distribution expenses were below last year's level in the period, as a result of a planned reduction in U.S. advertising in preparation for a new advertising campaign that will begin in the second quarter, as well as the scheduling of other marketing activities. For the full year, marketing, selling and distribution expenses are expected to be similar to those reported for 1992.
 Emmett also announced today that Tambrands' board of directors had authorized the repurchase of up to 1,950,000 shares of its common stock (or approximately 5 percent of the shares outstanding) in the open market from time to time. The shares will be used for general corporate purposes. This is the company's fifth repurchase program in four years.
 The company also announced that the board of directors today declared a regular quarterly dividend of $.38 per share, payable on June 15, 1993, to shareholders of record on June 7, 1993.
 Tambrands manufactures Tampax(R) tampons and markets them in over 150 countries around the world.
 A summary of consolidated operating results for the three months ended March 31, 1993, follows:
 TAMBRANDS INC.
 Consolidated Income Statement
 (In thousands, except per share figures)
 Three months ended March 31 1993 1992(A) Pct. Change
 Net sales $154,348 $174,886 (12)
 Cost of products sold 49,218 58,793 (16)
 Gross profit 105,130 116,093 (9)
 Selling, administrative and general:
 Marketing, selling & distribution 40,377 53,789 (25)
 Administrative and general 14,311 15,633 (8)
 Total 54,688 69,422 (21)
 Operating income 50,442 46,671 8
 Interest, net and other 656 223 --
 Earnings before provision
 for income taxes and cumulative
 effect of accounting change 51,098 46,894 9
 Provision for income taxes 18,907 17,585 8
 Earnings before cumulative
 effect of accounting change 32,191 29,309 10
 Cum. effect of accounting change -- (1,009) --
 Net earnings $ 32,191 $ 28,300 14
 Per common share:
 Earnings before cumulative
 effect of accounting change $ 0.82 $ 0.73 12
 Cum. effect of accounting change -- (0.03) --
 Net earnings $ 0.82 $ 0.70 17
 Average shares outstanding 39,133 40,306 --
 (A) -- Reflects adoption of SFAS No. 106 effective Jan. 1, 1992.
 -0- 4/27/93
 /CONTACT: Paul E. Konney, senior vice president of Tambrands, 914-696-6688/
 (TMB)


CO: Tambrands Inc. ST: New York IN: HOU SU: ERN DIV

GK-OS -- NY116 -- 1621 04/27/93 16:52 EDT
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Publication:PR Newswire
Date:Apr 27, 1993
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