DSI Toys Inc. Reports First Quarter Results.Business Editors HOUSTON--(BUSINESS WIRE)--May 7, 2001 DSI (Dynamic Systems Initiative) An umbrella term for a suite of Microsoft products that help manage the Windows environment in large enterprises. DSI was introduced in 2003. Toys Inc. (Nasdaq:DSIT) today reported financial results for the first quarter ended March 31, 2001. The company reported a net loss of $1.5 million, or $0.17 per share, compared with last year's first quarter loss of $1.3 million, or $0.14 per share. Due to the seasonality of the toy business, the company historically has reported net losses in the first quarter of each fiscal year. Net sales Net Sales The amount a seller receives from the buyer after costs associated with the sale are deducted. Notes: This amount is calculated by subtracting the following items from gross sales: merchandise returned for credit, allowances for damaged or missing goods, freight decreased slightly to $6.7 million from net sales of $6.9 million in the first quarter of fiscal 2000. Gross profit increased 11.6% from $1.6 million in 2000 to $1.8 million in 2001. Gross profit as a percentage of net sales increased to 26.6% in the first quarter ended March 31, 2001, from 23.2% in the first quarter of fiscal 2000. Expenses during the first quarter of 2001 increased to $4.0 million from $3.3 million for the first quarter of the prior year. E. Thomas (language) Thomas - A language compatible with the language Dylan(TM). Thomas is NOT Dylan(TM). The first public release of a translator to Scheme by Matt Birkholz, Jim Miller, and Ron Weiss, written at Digital Equipment Corporation's Cambridge Research Laboratory runs Martin, chairman of the board, stated, "The net loss for the quarter was a bit larger than we anticipated, but is generally in line with our internal expectations. We are still optimistic op·ti·mist n. 1. One who usually expects a favorable outcome. 2. A believer in philosophical optimism. op about our potential for profitability for the year. We are now busy putting our fall promotional products into production. We are significantly ahead of last year's developmental timetable “Schedule” redirects here. For other uses, see Schedule (disambiguation). A timetable or schedule is an organized list or schedule, usually set out in tabular form, providing information about a series of arranged events: in particular, the time at which and believe that earlier product introduction will provide enhanced opportunities for positive results earlier in our fiscal year." The Company designs, develops, markets and distributes high quality, innovative dolls, toys and consumer electronics products. Core products include youth electronics such as Tech-Link(R) brand communications products, e*BRAIN(TM) electronic companions, Kawasaki Kawasaki (käwä`säkē), city (1990 pop. 1,173,603), Kanagawa prefecture, central Honshu, Japan, on Tokyo Bay. Located in the Tokyo-Yokohama industrial area, it has steel mills, shipyards, oil refineries, engineering works, and (R) brand musical instruments, GearHead
Unrevealed First appearing in Steel #14 (April 1995), the first Gearhead appeared in Steel (R) brand remote control vehicles and a full range of doll brands including Sweet Faith(R), Pride & Joy(TM), Too Cute Twins(TM), Hush Li'l Baby(R), Little Darlings(TM) and the Elite(R) brand of Lifetime Play Dolls(TM). The Company's Web site can be reached at http://www.DSItoys.com. Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. Statement Under the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995: Statements in this press release that are not historical facts, including statements about plans and expectations regarding products and opportunities, demand and acceptance of new and existing products, capital resources, and future financial condition and results are forward-looking for·ward-look·ing adj. Concerned with or making provision for the future: forward-looking educators; a forward-looking corporate plan. Adj. 1. . Forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. involve risks and uncertainties, which may cause DSI's actual results in future periods to differ materially and adversely from those expressed. These uncertainties and risks include changing consumer preferences, lack of success of new products, loss of DSI's customers, competition, and other factors discussed from time to time in DSI's filings with the Securities and Exchange Commission.
DSI Toys Inc.
Consolidated Statements of Operations
Unaudited
Three Months Ended
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March 31, 2001 March 31, 2000
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Net sales $6,721,223 $6,914,462
Costs of goods sold 4,929,957 5,309,299
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Gross profit 1,791,266 1,605,163
Selling, general and
administrative expenses 3,979,454 3,340,630
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Operating loss (2,188,188) (1,735,467)
Interest expense (267,979) (269,983)
Other income 34,375 10,190
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Loss before income taxes (2,421,792) (1,995,260)
Benefit from income taxes 871,845 718,347
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Net loss $(1,549,947) $(1,276,913)
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Basic
Loss per share $(0.17) $(0.14)
Weighted average shares outstanding 9,066,365 9,014,147
Diluted
Loss per share $(0.17) $(0.14)
Weighted average shares outstanding 9,066,365 9,014,147
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