Patch to Distribute Stratego
Patch Products announced that it has signed a license and distribution agreement with Royal Jumbo, which grants Patch the exclusive right to market and distribute Stratego products in the United States and Canada, effective January 1, 2014.
Stratego is the classic game of battlefield strategy that has sold more than 20 million copies worldwide. Over its 50 years, Stratego has had a variety of different themes, looks and rules, but the challenge always remains the same: Capture the Flag.
MEGA Brands Announces Q3
MEGA Brands, Inc., announced its financial results for the third quarter ended September 30, 2013. Consolidated net sales in the third quarter were $140.9 million compared to $140.1 million in the corresponding 2012 period.
Sales for the Toys segment increased 1 percent compared to the third quarter of 2012, with strong shipments of Preschool & Girls construction toys, offset by lower sales of Boys & Collectors construction toys.
Sales for the Stationery & Activities segment were up 1 percent, the tenth consecutive quarter of year-over-year growth.
On a geographical basis, North American sales were 1 percent higher and international sales were level.
Earnings before interest, taxes, depreciation, and amortization (EBITDA) increased to $29.2 million compared to $28.2 million in the third quarter of 2012. EBITDA is a supplementary financial measure.
Net earnings were $22.6 million or $0.79 per diluted share ($0.99 per basic share) compared to $19.5 million or $0.63 per diluted share ($1.19 per basic share) in the third quarter of 2012.
For the nine-month period ended September 30, 2013, consolidated net sales increased 4 percent to $303.5 million compared to $292.7 million in the same period last year, with 4 percent growth in Toys, 2 percent in Stationery & Activities, 4 percent in North America and 2 percent in International. EBITDA increased to $38.1 million compared to $35.2 million in the corresponding period in 2012. Net earnings were $19.4 million or $0.82 per diluted share ($0.94 per basic share) compared to $12.6 million or $0.64 per diluted share ($0.77 per basic share) in the same 2012 period.
“With our solid Preschool & Girls offering and recent traction in Boys & Collectors construction toys, including the launch of Call of Duty Collector Construction Sets, we continue to focus on sustaining our positive sales momentum through the balance of 2013,” said Marc Bertrand, president and CEO of MEGA Brands, in a statement. “In addition, we are continuing to move forward with initiatives to improve our balance sheet, global manufacturing position, and brand portfolio.”