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THE TOPPS COMPANY, INC. REPORTS SECOND QUARTER AND FIRST HALF RESULTS

THE TOPPS COMPANY, INC. REPORTS SECOND QUARTER AND FIRST HALF RESULTS
 NEW YORK, Sept. 16 /PRNewswire/ -- The Topps Company, Inc. (NASDAQ: TOPP), today reported that net sales for the second quarter ended Aug. 29, 1992, increased to $83,758,000, as compared with $76,272,000 for the same period last year. Net income increased to $16,505,000, or $.35 per share, from last year's $14,275,000, or $.30 per share.
 For the first half, net sales increased to $160,191,000, as compared with $144,406,000 for the same period last year. Net income increased to $29,009,000, or $.61 per share, from last year's $27,625,000, or $.58 per share.
 Arthur T. Shorin, chairman, stated that through the first half of this year, a decline in shipments of popular-priced sports cards was more than offset by higher sales of Topps Stadium Club products. However, further softening in the collectible picture card market could affect the company's overall sports card sales during the second half.
 Mr. Shorin added, "Initial trade response to our entry into the comic book business has been encouraging." Shipment of Topps Comics' debut title "Dracula" will begin in October.
 Topps is well known for its collectible picture products, which feature sports and other themes, its Bazooka brand bubble gum and entertaining candy products.
 THE TOPPS COMPANY, INC.
 Consolidated Statement of Earnings
 (Amounts in thousands, except per share data)
 (Unaudited)
 Periods Second Quarter First Half
 Ended 8/29/92 8/31/91 8/29/92 8/31/91
 Net sales $83,758 $76,272 $160,191 $144,406
 Income before taxes 27,508 23,790 48,348 45,324
 Taxes on income 11,003 9,515 19,339 17,699
 Net income $16,505 $14,275 $ 29,009 $ 27,625
 Earnings per share $.35 $.30 $.61 $.58
 Weighted average
 shares outstg. 47,457,174 47,300,399 47,449,861 47,298,287
 -0- 9/16/92
 /CONTACT: Anna Cardasco or Tom Sanford of Ogilvy Adams & Rinehart, 212-557-0100, for Topps/
 (TOPP) CO: The Topps Company, Inc. ST: New York IN: HOU SU: ERN


GK-AH -- NY010 -- 9996 09/16/92 09:28 EDT
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Publication:PR Newswire
Date:Sep 16, 1992
Words:361
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