Mega Brands "well ahead" of 2011 performance

Toy sales rise five per cent in the three months ending September 30th.
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Mega Brands has said it is "well ahead" of where it was this time last year, with toy sales rising, more retail prominence and big products on the way.

Consolidated net sales in the third financial quarter increased 5 per cent to $140.1 million compared to $133.4 million in the same period last year.

There were higher product shipments in the pre-school and boys construction categories. Sales of stationery and activities products rose three per cent, the sixth consecutive quarter of year-on-year growth in this segment. 

And North American sales rose 19 per cent, more than offsetting lower international shipments.

Gross profit for the period rose from $52.3 million to $55.9 million year-on-year.

"Mega Brands achieved higher sales and earnings, improved gross margin and stronger cash flow in the third quarter,’" said Marc Bertrand, Mega Brands 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."

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