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April 8, 2005

USA: Topps reports fall in sales and profits

Confectionary and entertainment firm The Topps Company has announced falls in sales and profit for the year ended 26 February.

Confectionary and entertainment firm The Topps Company has announced falls in sales and profit for the year ended 26 February.

Net sales were $295.9m compared to $297.3m in the previous year.  Income from operations was $12.0m compared to $14.6m the year before.

Net sales in the fiscal 2005 fourth quarter were $68.3m compared to $69.6m last year.

Confectionery net sales increased 9.9% to $30.6m in the fiscal 2005 fourth quarter compared to $27.8m in the prior-year period.  For the full year, Confectionery net sales declined 2.3% to $143.8m.

Entertainment sales declined 9.5% to $37.8m in the fiscal 2005 fourth quarter from $41.7m in the prior-year period.  Full year entertainment sales increased 1.3% to $152.1m.

“We are pleased with fourth quarter confectionery results as well as WizKids recent performance,” said Arthur T. Shorin, chairman and CEO of Topps. “Overall results in the quarter, however, were disappointing.”

The Company’s confectionery brands include Ring Pop, Push Pop, Baby Bottle Pop and Juicy Drop Pop lollipops as well as Bazooka bubble gum.  Topps entertainment products include trading cards, sticker album collections, and collectible games. 

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