USA: Topps net sales slightly up in Q4 2002
The Topps Co, an international marketer of consumer products, has posted its financial results for the fourth quarter and fiscal year ended 2 March 2002. For the Q4 of fiscal 2002, net sales were US$60.9m, compared with US$60.5m for the same period last year. Pokemon sales in the quarter were US$3.1m versus US$9.6m last year. Income from operations in the Q4 was US$1.4m, compared with US$0.6m in the Q4 last year. Net income was US$1.4m, or US$0.03 per diluted share, compared with US$8.6m, or US$0.19 per diluted share, in the same period a year ago. This year's Q4 benefited from the favorable outcome of a legal settlement related to the Internet business, which contributed US$2.4m pre-tax, while last year's Q4 included a US$5.8m income tax credit.
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