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FISHER-PRICE REPORTS FIRST QUARTER PROFITS

 FISHER-PRICE REPORTS FIRST QUARTER PROFITS
 EAST AURORA, N.Y., April 22 /PRNewswire/ -- Fisher-Price, Inc.,


(NYSE: FPP) has reported net income of $.22 per share of common stock for the fiscal quarter ended March 29, 1992. Net income for the quarter was $3.4 million, a $7.1 million improvement over last year's net loss of $3.7 million for the comparable period.
 Fisher-Price reported net revenues of $146.8 million for the January-March l992 period, a 19.8 percent increase over net revenues of $122.5 million for the same period last year. Domestically, net revenues of $118.5 million increased 25.5 percent over the same period last year, and international revenues increased by $.2 million to $28.3 million. International net revenues increased by 5.3 percent after eliminating the effect of foreign currency translation.
 Ronald J. Jackson, chairman and chief executive officer of Fisher- Price said, "Our domestic increase in first quarter performance reflects low retail inventories following strong Christmas sales, enthusiastic trade acceptance of our l992 product line, and the fact that we had product ready to ship customers early in the year. This contrasts with a year ago when we did not have sufficient product available to ship until the second quarter of calendar l99l.
 "Our over-the-counter sales of infant and preschool products are also up, led by strong sales of the Tape Recorder, Action Tools, Activity Links Gym and Puffalumps. New products performing well include Baby Basketball, Little People School Bus, Tumbling Racers and the Booster Car Seat. We also have seen strong retailer support of key spring items including our Bubble Mower, Fun Hydrant Sprinkler, Baseball and the new Trike 'n Trailer. In addition, we're excited about the great reception by retailers and consumers to our new plush Dino-roars."
 Fisher-Price is an international manufacturer and marketer of children's products. Fisher-Price's common stock is listed on the New York Stock Exchange and is traded under the symbol FPP.
 FISHER-PRICE, INC.
 CONDENSED CONSOLIDATED STATEMENTS OF INCOME
 Dollars in Millions
 (except per share amounts)
 Three Months Ended
 March 29, March 31,
 1992 1991(A)
 (Unaudited) (Unaudited)
 Net Revenues: $ 146.8 $ 122.5
 Cost of goods sold 83.8 80.1
 Gross Profit: $ 63.0 $ 42.4
 Advertising and merchandising 19.5 15.1(B)
 Selling, general and administrative
 expenses 33.1 27.0
 Other expense (income), net 1.5 (.7)
 Interest expense, net 2.6 2.0
 Income (loss) before income taxes $ 6.3 $ (1.0)
 Provision for income taxes 2.9 2.7
 Net Income (loss): $ 3.4 $ (3.7)
 Net Income per Common Share: $ .22 (C)
 Weighted average common shares
 outstanding (in thousands) 15,269 (C)
 (A) For the three months ended March 31, 1991, Fisher-Price operated as a division of The Quaker Oats Company. The reported results are therefore not necessarily indicative of the financial performance of Fisher-Price as a stand-alone entity.
 (B) If the change in accounting policy for advertising and merchandising, which was implemented on July 1, 1991, was applied retroactively to the three months ended March 31, 1991, the pro forma advertising and merchandising would be $.2 million higher for a total of $15.3 million for such period.
 (c) As Fisher-Price was not a separate publicly held company during the three months ended March 31, 1991, earnings per share and shares outstanding are not applicable.
 FISHER-PRICE, INC.
 CONDENSED CONSOLIDATED BALANCE SHEETS
 Dollars in Millions
 March 29, March 31,
 1992 1991(A)
 (Unaudited) (Unaudited)
 Assets
 Current Assets:
 Cash and short-term investments $ 33.9 $ 4.6
 Receivables, net 142.9 124.1
 Inventories, net 69.0 64.1
 Prepaid expenses and other current
 assets 34.6 29.7
 Total Current Assets: $ 280.4 $ 222.5
 Property, plant and equipment, net 101.9 120.1
 Intangible assets, net 40.8 42.0
 Other assets 13.8 9.6
 Total Assets: $ 436.9 $ 394.2
 Liabilities and Shareholders' Equity
 Current Liabilities:
 Notes payable to banks $ 19.7 $ 28.9
 Trade accounts payable 19.8 20.9
 Accrued liabilities 67.9 54.7
 Total Current Liabilities: $ 107.4 $ 104.5
 Long-term debt 98.4 .7
 Deferred income taxes 9.5 16.1
 Total Liabilities: $ 215.3 $ 121.3
 Shareholders' Equity: 221.6 272.9
 Total Liabilities and Shareholders'
 Equity: $ 436.9 $ 394.2
 (a) For the three months ended March 31, 1991, Fisher-Price operated as a division of The Quaker Oats Company. The reported results are therefore not necessarily indicative of the financial performance of Fisher-Price as a stand-alone entity.
 -0- 4/22/92
 /CONTACT: Carol Blackley of Fisher-Price, 716-687-3423/
 (FPP) CO: Fisher-Price, Inc. ST: New York IN: LEI SU: ERN


KK -- CL002 -- 1429 04/22/92 16:02 EDT
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