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THE TOPPS COMPANY, INC. REPORTS THIRD QUARTER RESULTS

 NEW YORK, Dec. 14 /PRNewswire/ -- The Topps Company, Inc. (NASDAQ-NMS: TOPP) today reported that net sales for the third quarter ended Nov. 27, 1993 were $57,797,000, as compared with $62,609,000, for the same period last year. Net income was $4,658,000, or $.10 per share, compared to last year's $11,414,000, or $.24 per share.
 Net income for the first nine months was $21,948,000, or $.47 per share, compared with net income of $19,037,000, or $.40 per share, for all of last year.
 Arthur T. Shorin, Chairman, stated that results for the third quarter and nine months reflected lower production of sports cards versus the year ago period, in line with the Company's estimates of current consumer demand. He added that results for the nine months also reflected an increase in general reserves over the year ago period, including a $5,000,000 provision in connection with an arbitration between the Company and the Major League Baseball Players Association concerning various contractual issues, accrued during the first half.
 As of Nov. 27, 1993 the Company's balance sheet reflected $34,000,000 in cash and equivalents and stockholders' equity of $66,074,000.
 Topps is a multi-national marketer of entertainment products, principally collectible picture cards, confections and comic books.
 THE TOPPS COMPANY, INC.
 (Consolidated Statement of Earnings)
 (Amounts in Thousands, Except Share Data)
 (Unaudited)
 Period ended Third Quarter Nine Months
 11/27/93 11/28/92 11/27/93 11/28/92
 Net sales $ 57,797 $ 62,609 $ 203,995 $ 222,800
 Income before taxes 8,182 19,024 37,993 67,372
 Taxes on income 3,524 7,610 16,045 26,949
 Net income 4,658 11,414 21,948 40,423
 Earnings per share $.10 $.24 $.47 $.85
 Weighted average shares
 outstanding 47,029,716 47,481,493 47,029,271 47,460,405
 -0- 12/14/93
 /CONTACT: Anna Cordasco of Sard Verbinnen & Co, 212-687-8080/
 (TOPP)


CO: The Topps Company, Inc. ST: New York IN: ENT SU: ERN

LG-MP -- NY020 -- 3522 12/14/93 09:34 EST
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Publication:PR Newswire
Date:Dec 14, 1993
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