Printer Friendly

JUST TOYS REPORTS SALES AND EARNINGS

 JUST TOYS REPORTS SALES AND EARNINGS
 NEW YORK, Oct. 28 /PRNewswire/ -- Just Toys, Inc. (NASDAQ-NMS: JUST)


today reported record sales and earnings for the third quarter and nine months ended Sept. 30, 1992. Net sales more than doubled in the third quarter, to $9.9 million, from $3.6 million in the third quarter of 1991. Net income rose 142 percent to $779,000 from $322,000 last year.
 Net sales for the first nine months of 1992 were $18.9 million, more than twice the level in the comparable period last year. Net income was $1.4 million, compared to $726,000 last year. Both net sales and net income in the first nine months of 1992 exceeded the level Just Toys achieved for the full year 1991.
 Chairman and CEO Allan Rigberg said the sales increase was due to strong volume in Just Toys' carryforward lines (BEND-EMS(TM) and SUPER TUFF(TM) foam sports balls), new 1992 introductions in these lines, and initial shipments of the company's MINI-SHOTS(TM) line of foam dart launchers.
 "We are pleased that our existing products have continued to sell well, and are especially happy about the success of our new toys," said Mr. Rigberg. He added that third quarter results do not include sales of Just Toys' new "Beauty and the Beast" TALK 'N' VIEW MAGIC MIRROR(TM) or WET SHOTS(TM) wet sponge shooter, both of which began shipping in October. Disney's "Beauty and the Beast" home video opened retail sales this week, and industry observers are predicting it will be a major best-seller.
 Mr. Rigberg also noted that, "because there are now 50 percent more shares outstanding, the increase in EPS in the fourth quarter is not likely to be as high as we have seen in the first nine months of the year. However, our shipments have continued to be strong in October, and we are confident that we will show excellent momentum in the fourth quarter and into 1993."
 Just Toys completed its initial public offering on Oct. 1, 1992.
 JUST TOYS, INC.
 (In thousands, except per share figures)
 Periods ended Three months Nine months
 Sept. 30 1992 1991 1992 1991
 Net sales $9,934 $3,600 $18,940 $8,536
 Operating income 1,470 598 2,697 1,341
 Net income (A) 779 322 1,407 726
 Earnings per share $0.39 $0.16 $0.70 $0.36
 Average shares outstanding 2,000 2,000 2,000 2,000
 (A) From inception through the end of the nine months ended Sept. 30, 1992, the company operated as a partnership for income tax purposes and, as a result, liability for the net taxable income of the company was borne directly by the partners. Net income reflects a pro forma provision for income taxes representing the taxes that would have been provided had the company been operated as a corporation during the periods presented.
 BEND-EMS, SUPER TUFF, MINI SHOTS, WET SHOTS, and TALK 'N' VIEW MAGIC MIRROR are all trademarks of Just Toys, Inc.
 -0- 10/28/92
 /CONTACT: Allan Rigberg, 212-645-6335, or Geoffrey Gimbel, 212-594-1480, both of Just Toys, Inc., or Barry Schwartz of Schwartz Public Relations, 212-677-8700, for Just Toys, Inc./
 (JUST) CO: Just Toys, Inc. ST: New York IN: HOU SU: ERN


SM-TS -- NY013 -- 5793 10/28/92 08:53 EST
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Oct 28, 1992
Words:555
Previous Article:NEWBRIDGE NETWORKS FORMS STRATEGIC ALLIANCE WITH ADVANCED COMPUTER COMMUNICATIONS TO JOINTLY DEVELOP INTERNETWORKING PRODUCTS
Next Article:ROLLINS TRUCK LEASING REPORTS REPORTS RECORD RESULTS FOR FOURTH QUARTER AND FISCAL YEAR 1992; REVENUES UP 13 PERCENT; EARNINGS UP 38 PERCENT
Topics:


Related Articles
GALOOB REPORTS FOURTH QUARTER OPERATING PROFIT
TOYS 'R' US REPORTS RESULTS FOR 1991
TOYS 'R' US REPORTS FIRST QUARTER SALES AND EARNINGS RESULTS
GALOOB REPORTS SECOND QUARTER FIGURES
TOYS 'R' US REPORTS 40 PERCENT INCREASE IN SECOND QUARTER NET EARNINGS
TOYS 'R' US REPORTS RECORD SALES AND EARNINGS NET EARNINGS INCREASED 29 PERCENT
JUST TOYS REPORTS RECORD FIRST QUARTER SALES AND EARNINGS
TOYS "R" US REPORTS FIRST QUARTER EARNINGS INCREASE OF 25 PERCENT
JUST TOYS REPORTS RECORD SECOND QUARTER AND FIRST HALF SALES AND EARNINGS
TOYS "R" US REPORTS SECOND QUARTER RESULTS WILL OPEN AT LEAST 105 TOY STORES IN 1993, INCLUDING 65 INTERNATIONALLY

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters