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FISHER-PRICE REPORTS PROFITS FOR ITS SECOND QUARTER (OCT.-DEC.)

 FISHER-PRICE REPORTS PROFITS FOR ITS SECOND QUARTER (OCT.-DEC.)
 EAST AURORA, N.Y., Feb. 12 /PRNewswire/ -- Fisher-Price, Inc. (NYSE: FPP), has reported a profit for its second fiscal quarter ended Dec. 29, 1991. This quarter marks the completion of an abbreviated fiscal year which ran from July to December 1991 following the company's spin off from The Quaker Oats Company in June 1991. In December, Fisher-Price announced that it changed its fiscal year end from June 30 to the Sunday closest to the last day of the calendar year.
 Fisher-Price reported net revenues of $185.0 million for the October- December 1991 period versus $184.6 million for the same period the prior year.
 Net income for the quarter ended Dec. 29, 1991 was $4.0 million, a $33.2 million improvement over the prior year's loss of $29.2 million for the comparable period. The net income per share of common stock for the l99l second quarter, was $.26.
 Net revenues for the July-December, 1991 six-month period were $373. 0 million, a $33.6 million increase over net revenues of $339.4 million for the same period the prior year. Domestically, net revenues of $266. l increased $55.7 million over the same period the prior year, while international revenues declined $22.l million to $l06.9 million from the same period the prior year, with the foreign currency translation accounting for $7.4 million of the decline.
 Net income for the six months ended Dec. 29, 1991 was $12.2 million, a $50.9 million improvement over the prior year's loss of $38.7 million for the comparable period. The net income per share of common stock for the six-month period was $.80.
 Ronald J. Jackson, Chairman and CEO of Fisher-Price said, "Our second quarter performance reflects a good 1991 Christmas selling season and strong consumer and retail support of our return to our core infant and preschool toys and juvenile products.
 "Among the popular selling items that contributed to the company's good performance during the second quarter in the U.S. were the Activity Links Gym and Little Red Ride-On for infants and the Action Workshop, Puffalump Kids, Laundry Center, Tournament Table, Little People Farm, and Tape Recorder for preschoolers.
 "We view the international business as a growth opportunity, even though we didn't make as much progress as we had hoped in 1991. We've made a number of changes and should see the results of new management, new and refocused products, and improved product sourcing during 1992 and 1993."
 Fisher-Price is an international manufacturer and marketer of children's products. Its common stock is listed on the New York Stock Exchange under the symbol FPP.
 FISHER-PRICE, INC.CONDENSED CONSOLIDATED STATEMENTS OF INCOME
 Dollars in Millions
 (except per share amounts)
 Three Months Ended
 December 29, December 31,
 1991 1990
 (Unaudited) (Unaudited)
 Net Revenues: $ 185.0 $ 184.6
 Cost of goods sold 103.4 126.5
 ------ ------
 Gross Profit: $ 81.6 $ 58.1
 Advertising and merchandising 27.7 43.4
 Selling, general and administrative expenses 42.9 54.7
 Interest expense, net 3.5 2.8
 Other expense (income), net 0.8 (1.5)
 ------ ------
 Income (loss) before income taxes $ 6.7 $ (41.3)
 Provision (benefit) for income taxes 2.7 (12.1)
 ------ ------
 Net Income (loss): $ 4.0 $ (29.2)
 ------ ------
 Net Income per Common Share: $ .26
 Weighted average common shares outstanding
 (in thousands) 15,269
 Information for the three months ended Dec. 31, 1990, does not necessarily reflect the results had Fisher-Price been operated as a stand-alone entity.
 As Fisher-Price was not a separate publicly-held company during the three months ended December 31, 1990, earnings per share and shares outstanding are not applicable.
 FISHER-PRICE, INC. CONDENSED CONSOLIDATED STATEMENTS OF INCOME
 Dollars in Millions
 (except per share amounts)
 Six Months Ended
 December 29, December 31,
 1991 1990
 (Unaudited)
 Net Revenues: $ 373.0 $ 339.4
 Cost of goods sold 212.1 238.4
 ------ ------
 Gross Profit: $ 160.9 $ 101.0
 Advertising and merchandising 51.9 62.1
 .9
 Other expense (income), net 1.6 (1.4)
 ------ ------
 Income (loss) before income taxes $ 21.5 $ (56.6)
 Provision (benefit) for income taxes 9.3 (17.9)
 ------ ------
 Net Income (loss): $ 12.2 $ (38.7)
 ------ ------
 Net Income per Common Share: $ .80
 Weighted average common shares outstanding
 (in thousands) 15,269


Information for the six months ended Dec. 31, 1990, does not necessarily reflect the results had Fisher-Price been operated as a stand-alone entity.
 As Fisher-Price was not a separate publicly-held company during the six months ended Dec. 31, 1990, earnings per share and shares outstanding are not applicable.
 FISHER-PRICE, INC. CONDENSED CONSOLIDATED BALANCE SHEET
 Dollars in Millions
 December 29, December 31,
 1991 1990
 (Unaudited)
 Assets
 Current Assets:
 Cash and short term investments $ 83.6 $ 0.0
 Receivables, net 125.1 124.1
 Inventories, net 61.3 53.2
 Other current assets 36.6 43.6
 ------ ------
 Total Current Assets: $ 306.6 $ 220.9
 Other receivables and investments 13.7 8.2
 Property, plant and equipment, net 105.2 128.2
 Intangible assets, net 42.6 44.1
 ------ ------
 Total Assets: $ 468.1 $ 401.4
 ------ ------
 Liabilities and Shareholders' Equity
 Current Liabilities:
 Notes payable to banks $ 29.7 $ 44.2
 Trade accounts payable 27.4 19.6
 Other accrued liabilities 79.7 77.5
 ------ ------
 Total Current Liabilities: $ 136.8 $ 141.3
 Long-term debt 98.3 1.0
 Deferred income taxes 9.8 16.8
 ------ ------
 Total Liabilities: $ 244.9 $ 159.1
 Shareholders' Equity: $ 223.2 $ 242.3
 ------ ------
 Total Liabilities and Shareholders' Equity:$ 468.1 $ 401.4
 -0- 2/12/92
 /CONTACT: Carol Blackely of Fisher Price, 716-687-3423/
 (FPP) CO: Fisher-Price, Inc. ST: New York IN: REA SU: ERN


LC -- CL001 -- 9075 02/12/92 08:09 EST
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