THE TOPPS COMPANY REPORTS FIRST QUARTER RESULTS
THE TOPPS COMPANY REPORTS FIRST QUARTER RESULTS NEW YORK, June 16 /PRNewswire/ -- The Topps Company, Inc.
(NASDAQ: TOPP) today reported that net sales for the first quarter increased to $76,433,000, as compared with $68,134,000, for the same period last year. Net income was $12,504,000, or $.26 per share, compared to $13,350,000, or $.28 per share in last year's first quarter when shipments or unusually high margin entertainment picture products were made.
Arthur T. Shorin, chairman, stated that first quarter sales reflect strong demand for Stadium Club baseball cards. He added that initial consumer response to candy, gum and picture products featuring the Warner Bros. Batman film is encouraging. Topps is well known for its collectible picture products, which feature sports and other themes, its Bazooka brand bubble gum and entertaining candy products. TOPPS COMPANY, INC. Consolidated Statement of Earnings (Unaudited) First quarter ended 5/30/92 6/1/91 Net sales $76,433,000 $68,134,000 Income before taxes 20,840,000 21,534,000 Taxes on income 8,336,000 8,184,000 Net income 12,504,000 13,350,000 Earnings per share .26 .28 Weighted average shares outstanding 47,442,548 47,295,975 -0- 6/16/92 /CONTACT: Anna Cordasco or Tom Sanford of Ogilvy Adams & Rinehart, 212-557-0100/ (TOPP) CO: Topps Company, Inc. ST: New York IN: HOU SU: ERN
TQ-OS -- NY007 -- 0514 06/16/92 09:13 EDT
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|Date:||Jun 16, 1992|
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