BNN Mobile BNN Mobile TV BNN Live Video Stream Newsletter Contact Us

App Central Berman's Call BTV - Business Television Business Day Car Business Commodities C-Suite Survey ETF Update GetConnected Headline Market Call

Market Call Tonight Market Sense MoneyTalk The Business News The Close The Learning Curve The Pitch The Street Undercover Boss Weekly with Andrew McCreath

Future of Keystone XL Agrium Proxy Battle Federal Budget 2013 Your Money Month PDAC 2013 BNN Book Club Passion Capitalist Financial Glossary Bell Let's Talk Talking Tax C-Suite Survey SNC-Lavalin Annual Meeting

Are you looking for a stock?

Try one of these

Mega Brands profit falls on lower U.S. sales

Reuters
8:13 AM, E.T. | March 14, 2012
Canadian

Tags: Mega Brands

Mega Brands (MB-T) reported a 97-percent fall in adjusted fourth-quarter profit hurt mainly by lower toy sales in the United States.

The toymaker's quarterly net income fell to $234,000 US from $11.3 million a year ago.

On an adjusted basis, the company earned 2 cents per share, compared with 70 cents per share a year ago.

Net sales for the company, which sells both its own brands and licensed toys, fell 3 percent to $108.5 million.

Toy sales were down 8 percent and North American sales fell 4 percent in the quarter, the company said in a statement.