Mega Brands continues to improve sales and profit | Key4Communications | News

Toymaker Mega Brands has announced a sales increase of 5% in the third quarter of the year, reaching $140.1 million, thanks to sales of boys and preschool toys. Stationery and activities increased sales by 3%, reaching its sixth consecutive quarter of improvement. International sales posted declines, but were offset by revenue in the US and Canada, which grew 19%.

Net earnings were $19.5 million, improving by 14% the $17.1 million from last year. For the nine first months of 2012, profits rose 55.6% to %12.6 million.

''Mega Brands achieved higher sales and earnings, improved gross margin and stronger cash flow in the third quarter,'' said Marc Bertrand, President and CEO. ''After nine months, we are well ahead of 2011 and well-positioned for the fourth quarter with higher listings at North American retailers compared to the same period last year, including the launch of the Mega Bloks Skylanders Giants and Mega Bloks Barbie collections which will soon be appearing in stores.''