RC2 shows Q2 improvement

RC2's latest financials show much improved second quarter profitability.
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The firm revealed a second-quarter profit that easily beat market estimates, helped by better cost-reduction efforts.

The company posted second-quarter net income of $3.3 million, or 19 cents a share, compared with a net loss of $6.4 million, or 37 cents a share, a year ago. Excluding recall-related items, it earned 20 cents a share.

Revenue fell two per cent to $87m. Increased sales at RC2's mother, infant and toddler product categories partly offset weakness at its preschool, youth and adult categories.

Analysts on average were expecting earnings of 12 cents a share, before special items, on revenue of $85.3 million, according to estimates.

Selling, general and administrative expenses fell 14 percent to $29.9 million in the quarter.

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