Mega Brands grew its sales to $58.2 million, up from $51 million in Q1 2011 - a rise of 14 per cent.
Toy sales increased ten per cent, fuelled by higher product shipments in the pre-school and boys construction categories, while stationery and activity products went up 26 per cent.
Geographically, Mega’s sales grew 26 per cent in North America and two per cent in international markets – a contrast to competing toy companies in the ‘States, which have typically seen international sales outpacing domestic.
Despite the revenue growth Mega recorded a net loss of $8.5 million – however this was an improvement on the $9.3 million loss in the corresponding 2011 period.
The financial statement said: “The Corporation’s business is seasonal and historically the first quarter is the period with the lowest sales of the year and negative profitability.”
Marc Bertrand, president and CEO, said: “Our first quarter results show good sales growth, particularly in North America, and our key profitability metrics have improved compared to last year.
“Our top priority for the rest of the year is to capitalize on the strong momentum we have built in our brands.”