WORLD NEWS

Spin Master feels effect of Toys R Us liquidation as earnings take a hit

Published on: 7th March 2019

Company says it expects the retail disruption to continue into the first half of this year.

Spin Master has reported that net income for the fourth quarter was US$11.4m or 11 diluted cents per share, down from US$20m or 20 cents for the same quarter a year earlier. Adjusted net income for the quarter ending 31st December came in at US$6.1m, or six cents per share, compared with US$25.5m or 25 cents per share a year earlier.

Analysts had expected net income of US$14.9m or 18 cents per share, according to Thomson Reuters Eikon. Revenue for the quarter came in at US$414.3m, down from US$440.9m for the same quarter a year earlier.

The company says the absence of Toys R Us in the US market, and a later Easter, will particularly impact the first quarter this year.

It says it expects to see growth this year to come in part from proven licences, including Monster Jam and How to Train your Dragon, fresh content for Paw Patrol, and the roll-out of its new show Abby Hatcher.

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