Printer Friendly

SLM INTERNATIONAL REPORTS RECORD RESULTS

 SLM INTERNATIONAL REPORTS RECORD RESULTS
 NEW YORK, Oct. 26 /PRNewswire/ -- SLM International, Inc.,


(NASDAQ: SLMI) today reported record operating results for the third quarter and nine months ended Oct. 3, 1992.
 Sales for the third quarter ended Oct. 3, 1992 increased 34.6 percent to $77.9 million from $57.9 million in the comparable period last year. Sales for the nine months ended Oct. 3, 1992 increased 35.1 percent to $164.6 million from $121.9 million in the same period in 1991. Sales of the company's toy products increased approximately 28 percent during the three month and 24 percent during the nine month periods, respectively. Sales of the company's sporting goods products increased approximately 42 percent for the third quarter and 50 percent for the first nine months of 1992.
 Net income increased 37.0 percent for the third quarter to $7.6 million from $5.6 million a year earlier. Net income for the nine months increased 156.5 percent to $11.7 million compared to $4.5 million in the first nine months of 1991.
 As a result of the initial public offering of the company's common stock in November 1991 and a second primary offering in July 1992, total outstanding shares at Oct. 3, 1992 increased to 12,355,000 from 6,500,000 on Sept. 30, 1991. Actual earnings per share for the third quarter were $0.65 as compared to $0.85 in the third quarter of 1991, however, on a pro-forma basis (as if both stock offerings had been completed on January 1, 1991), the 1992 third quarter earnings per share were $0.63 as compared to $0.53 in 1991. Actual earnings per share for the nine month period were $1.07 in 1992 as compared to $0.70 in 1991. On a pro-forma basis, nine month earnings per share were $1.02 compared to pro-forma earnings per share of $0.63 in 1991.
 David Zunenshine, chairman of the board, commented, "We continue to see consistent growth in sales and earnings. These increases have been achieved by strong performances in our core toy and sporting goods products and continued aggressive new product development. We have experienced strong demand and sales of our new 1992 products including Buddy L Voice Command vehicles, Power Drivers Batmobile, StairClimber Plus Total Workout System, CCM Mach 50 Reebok Pump in-line roller skates and Nutmeg licensed spectator sports apparel."
 Mr. Zunenshine further noted, "Our commitment to strategic acquisitions continues to be successful as exemplified by our recent acquisition of Norca Industries, a manufacturer of seasonal toys and Innova-Dex Sports, a manufacturer of bicycle helmets."
 SLM International, Inc. designs, develops, manufactures and markets a broad range of toys and sporting goods on a worldwide basis using a variety of well-known trademarks, as well as licenses for popular children's characters.
 SLM INTERNATIONAL, INC. (NASDAQ: SLMI)
 CONSOLIDATED STATEMENTS OF INCOME
 (In Thousands, Except Share Data)
 (Unaudited)
 For the For The Nine
 Quarters Ended Months Ended
 Oct. 3, Sept. 30, Oct. 3, Sept. 30,
 1992 1991 1992 1991
 Net Sales $77,923 $57,884 $164,629 $121,877
 Cost of Goods Sold 48,657 35,713 101,702 78,735
 Gross Profit 29,266 22,171 62,927 43,142
 Selling, General and
 Distribution Exps. 18,044 12,710 44,055 30,719
 Operating Income 11,222 9,461 18,872 12,423
 Interest Expense 1,134 1,935 2,894 5,967
 Other (Income) (551) (132) (694) (203)
 Income Before
 Income Taxes 10,639 7,658 16,672 6,659
 Income Taxes 3,031 2,104 5,002 2,110
 Net Income $ 7,608 $ 5,554 $ 11,670 $ 4,549
 Net Income Per Share $0.65 $ 0.85 $ 1.07 $ 0.70
 Total Shares
 Outstanding 12,355,000 6,500,000 12,355,000 6,500,000
 -0- 10/26/92
 /CONTACT: David Walke, Amy Ludwig or Brad Miller or Morgen-Walke Associates, 212-986-5900, for SLM/
 (SLMI) CO: SLM International, Inc. ST: New York IN: TEX SU: ERN


KD -- NY080 -- 4824 10/26/92 13:14 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 26, 1992
Words:677
Previous Article:ESSEX CORPORATION REPORTS THIRD QUARTER 1992 RESULTS
Next Article:UNITED DOMINION REPORTS THIRD-QUARTER RESULTS
Topics:


Related Articles
SLM INTERNATIONAL FINALIZES AGREEMENT TO PURCHASE WAYNE GRETZKY HOCKEY GAME MANUFACTURER
SLM INTERNATIONAL REPORTS RECORD FIRST QUARTER OPERATING RESULTS
SLM INTERNATIONAL AGREES TO PURCHASE NORCA INDUSTRIES
NATIONAL MEDIA BROADENS PRESENCE IN HEALTH AND FITNESS MARKET THROUGH AGREEMENT WITH SLM INTERNATIONAL
SLM INTERNATIONAL REPORTS RECORD SECOND QUARTER OPERATING RESULTS
PUBLIC OFFERING OF 2,200,000 SHARES OF SLM INTERNATIONAL COMMON STOCK
SLM INTERNATIONAL PURCHASES BICYCLE HELMET COMPANY
SLM INTERNATIONAL ANNOUNCES MAJOR TECHNOLOGY BREAKTHROUGH: FIRST TOTALLY-SAFE RECHARGER FOR REGULAR ALKALINE BATTERIES AVAILABLE
STATEMENT BY SLM INTERNATIONAL, INC. ON BUDDY L(R) SUPER CHARGER(TM)
EMA Sets Service Level Management Market at Nearly $1.4 Billion.

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