Mega Brands sales up 13% in Q2
MONTREAL — Toy manufacturer Mega Brands reported that net sales in the second quarter increased 13% to $94.5 million compared with $83.9 million in the corresponding 2011 period.
Toy sales increased 14% compared to the second quarter of 2011, driven by higher product shipments in the preschool and boys construction categories. Toy sales have increased year-over-year in ten of the last 11 quarters.
Sales of stationery and ctivities products were up 10%, the fifth consecutive quarter of year-over-year growth in this segment.
On a geographical basis, North American sales were 18% higher and international sales were stable, with sales growth offset by unfavorable currency changes.
Net earnings were $1.6 million or 10 cents basic per share compared to $0.3 million or 2 cents basic per share in the second quarter of 2011.
''Our second quarter results demonstrate solid growth in our business as we head into the peak selling period of the year,'' said Marc Bertrand, president and CEO. ''The key metrics in our business are positive and we are well-positioned for a strong finish to the year.''