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Proc-Type: 2001,MIC-CLEAR
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<SEC-DOCUMENT>0000098677-03-000010.txt : 20030723
<SEC-HEADER>0000098677-03-000010.hdr.sgml : 20030723
<ACCEPTANCE-DATETIME>20030723152908
ACCESSION NUMBER:		0000098677-03-000010
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20030628
ITEM INFORMATION:		Other events
FILED AS OF DATE:		20030723

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			TOOTSIE ROLL INDUSTRIES INC
		CENTRAL INDEX KEY:			0000098677
		STANDARD INDUSTRIAL CLASSIFICATION:	SUGAR & CONFECTIONERY PRODUCTS [2060]
		IRS NUMBER:				221318955
		STATE OF INCORPORATION:			VA
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-01361
		FILM NUMBER:		03798272

	BUSINESS ADDRESS:	
		STREET 1:		7401 S CICERO AVE
		CITY:			CHICAGO
		STATE:			IL
		ZIP:			60629
		BUSINESS PHONE:		3128383400

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	SWEETS CO OF AMERICA INC
		DATE OF NAME CHANGE:	19660921
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>june2003filing.txt
<DESCRIPTION>TOOTSIE ROLL INDUSTRIES, INC. 8-K ENDING 06/28/03
<TEXT>
                                         Draft of July 21, 2003

             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)  July 21, 2003

            TOOTSIE ROLL INDUSTRIES, INC.
(Exact name of registrant as specified in its charter)

       VIRGINIA              1-1361             22-1318955
State or other jurisdiction  (Commission File No.)       (IRS Employer
      Of incorporation)                              Identification Number)

     7401 South Cicero Avenue, Chicago, Illinois             60629
      (Address of principal executive offices)             (Zip Code)

Registrant's telephone number, including area code:  (773) 838-3400.


 (Former name or former address, if changed since last report)
                           N/A


ITEM 9.  RESULTS OF OPERATIONS AND FINANCIAL CONDITION.
On July 21, 2003, Tootsie Roll Industries, Inc., a Virginia
corporation, issued a press release announcing earnings for the
quarter ended June 28, 2003, a copy of which is attached as
Exhibit 99.1 to this report.

ITEM 7. EXHIBITS

Exhibits

   99            Press Release, dated July 21, 2003


                        SIGNATURES


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.


                                   TOOTSIE ROLL INDUSTRIES, INC.



Date:  July 21, 2003              By:_/s/ G. Howard Ember, Jr._
                                   Name:  G. Howard Ember, Jr.
                                   Title: V.P./Finance


                                                 EXHIBIT INDEX

                                  The following exhibit is filed herewith:

  Exhibit No.

99 Press Release, dated July 21, 2003.





Tootsie Roll Industries, Inc.
7401 South Cicero Avenue
Chicago, IL  60629
Phone 773/838-3400
Fax     773/838-3534


Press Release


STOCK TRADED:  NYSE           FOR IMMEDIATE RELEASE
TICKER SYMBOL: TR             Wednesday, July 21, 2003




CHICAGO, ILLINOIS - July 21, 2003 - Tootsie Roll
Industries, Inc. reported second quarter and first half 2003 sales and earnings.
Second quarter sales were $77,725,000 compared to $77,131,000 in the second
quarter 2002, an increase of 1%. First half sales were $153,295,000 compared to
$156,122,000 in the prior year, a decrease of 2%.  Melvin J. Gordon, Chairman,
said "Although the timing of Easter shipments in 2003 contributed to improved
sales results for the second quarter 2003, the sluggish economy, a difficult
retail environment, lower sales in Mexico and Canada, and higher sales in the
fourth quarter of 2002 as a result of January 2003 price increases contributed
to our sales decline in the first half 2003."

Second quarter 2003 net earnings were $12,317,000 compared to second quarter
2002 net earnings of $12,316,000. First half 2003 net earnings were $23,226,000
compared to first half 2002 net earnings of $25,088,000.  Second quarter 2003
net earnings per share were $.24 compared to $.23 per share in the second
quarter 2002, an increase of $.01 per share or 4%, and first half 2003 net earn-
ings per share were $.45 compared to $.47 per share in the first half 2002, a
decrease of $.02 per share or 4%.  Mr. Gordon said, "Second quarter earnings
were aided by higher sales, including selective price increases, and cost
control programs.  First half net earnings were adversely affected by lower
sales volumes, higher costs for major ingredients, and a customer bankruptcy."

                             TOOTSIE ROLL INDUSTRIES, INC.
                          CONSOLIDATED STATEMENTS OF EARNINGS
              FOR THE 13 WEEKS AND 26 WEEKS ENDED JUNE 28, 2003 & JUNE 29, 2002


                                                    SECOND QUARTER ENDED

                                                  2003                2002

Net Sales                                    $ 77,725,000         $ 77,131,000

Net Earnings                                 $ 12,317,000         $ 12,316,000

* Earnings Per Share                             $ .24                $ .23

*Average Shares Outstanding                    51,891,000           53,129,000



                                                      SIX MONTHS ENDED

                                                  2003                2002

Net Sales                                    $153,295,000         $156,122,000

Net Earnings                                 $ 23,226,000         $ 25,088,000

* Earnings Per Share                              $ .45               $ .47

* Average shares outstanding                   52,070,000           53,212,000


* Based on average shares outstanding adjusted for 3% stock dividends
  distributed April 16, 2003 and Aprill 17, 2002.














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