GREY:MBLKF - Post by User
Post by
savinfamilyon Jul 28, 2011 7:10am
426 Views
Post# 18881767
83.9 million
83.9 million
MONTREAL, July 28, 2011 /CNW Telbec/ - MEGA Brands Inc. (Toronto:MB.TO) announced its financial results today for the second quarter ended June 30, 2011. The Corporation adopted International Financial Reporting Standards effective January 1, 2011 and all comparative 2010 figures have been restated. (All figures are expressed in US dollars.)
Consolidated net sales in the second quarter increased 6% to $83.9 million compared to $78.8 million in the corresponding 2010 period. This is the seventh consecutive quarter of higher year-over-year consolidated sales since the fourth quarter of 2009.
Toy sales increased 11% with growth in all categories compared to the second quarter of 2010. Sales of Stationery and Activities products increased 2%, reflecting the successful execution of the Corporation's new business plan for this segment.
On a geographical basis, North American sales were up 6%, reflecting growth in both of the Corporation's product segments. International sales increased 8% in the second quarter and the Corporation expects further growth in the second half of the year.
Net earnings were
.3 million compared to a net loss of
.4 million in the second quarter of 2010.