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

 TAMBRANDS REPORTS RECORD HIGH FIRST-QUARTER SALES AND
 EARNINGS AND ANNOUNCES ADDITIONAL SHARE REPURCHASE
 WHITE PLAINS, N.Y., April 28 /PRNewswire/ -- Tambrands Inc. (NYSE: TMB) had record sales and earnings for the first quarter, Martin F.C. Emmett, chairman and chief executive officer, announced today.
 Net sales for the quarter ended March 31, 1992, were $174,886,000, an increase of 12 percent from first-quarter 1991 sales of $156,666,000. Net earnings were $29,309,000, an increase of 15 percent over earnings of $25,429,000 in the first quarter of 1991. Earnings per share increased to 73 cents, up 20 percent from earnings per share of 61 cents in the first quarter of 1991.
 According to Emmett, Tambrands' record sales and earnings resulted primarily from strong performance in the United States and Canada. Gross profit increased substantially in the period, reflecting the successful 1991 restaging of Tampax tampons in the United States. Marketing, selling and distribution expenses were up in the period, reflecting additional investment in advertising in the United States and education worldwide. Earnings per share increased at a greater rate than net earnings because Tambrands' stock buybacks reduced the number of shares outstanding.
 The company announced that, following its successful U.S. restage, it is restaging Tampax tampons in Europe. As in the United States, the European restaging will include product improvements, new package sizes and packaging improvements.
 Speaking today at the Tambrands annual meeting of shareholders, Emmett stated that he expected second-quarter 1992 earnings to be below year-ago levels. U.S. volume in the second quarter of 1991 was particularly strong due to an introductory promotion for Tampax Comfort Shaped Flushable tampons and the normal second-quarter promotion in the United States, which has been rescheduled this year. Full-year 1992 results should be in line with the company's targeted compound annual growth rate of more than 15 percent in net earnings during the first half of the nineties.
 Emmett also announced today that Tambrands' board of directors had authorized the repurchase of up to 2 million 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 fourth repurchase program in three years; approximately $250 million of stock has been repurchased under these programs. Emmett said, "This new stock repurchase program reflects our confidence in the continuing success of our Tampax tampon business worldwide."
 The company also announced that the board of directors today declared a regular quarterly dividend of 34 cents per share, payable on June 15, 1992, to shareholders of record on June 5, 1992.
 Tambrands is a multinational manufacturer and marketer of personal care products, principally Tampax(R) tampons, which are sold in over 135 countries around the world.
 TAMBRANDS INC.
 Consolidated Income Statement
 (In thousands, except per-share figures)
 Pct.
 Three months ended March 31 1992 1991 Change
 Net sales $174,886 $156,666 12
 Cost of products sold 58,793 59,813 (2)
 Gross profit 116,093 96,853 20
 Selling, administrative and general:
 Marketing, selling & distribution 53,789 43,078 25
 Administrative and general 15,633 13,440 16
 Total 69,422 56,518 23
 Operating income 46,671 40,335 16
 Interest income, net and other 223 351 (36)
 Earnings before taxes 46,894 40,686 15
 Provision for taxes 17,585 15,257 15
 Net earnings 29,309 25,429 15
 Net earnings per share $0.73 $0.61 20
 Average shares outstanding 40,306 41,487
 -0- 4/28/92
 /CONTACT: Paul E. Konney, senior vice president of Tambrands, 914-696-6688/
 (TMB) CO: Tambrands Inc. ST: New York IN: HOU SU: ERN


TS-CK -- NY074 -- 3793 04/28/92 12:18 EDT
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Publication:PR Newswire
Date:Apr 28, 1992
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