Lois Sloane Passed Away
Lois Sloane passed away at home on July 15 after a long illness. A memorial service was held yesterday in New York City. She is survived by husband, Allan Sloane, daughters Leslie Sloane Zelnik and Stephanie Sloane, and son-in-law, Cory Zelnik. She was the grandmother of Bailey Sloane Zelnik. She was the sister of Joan Rosenblum and husband, Robert Rosenblum. She was aunt to Carol, Gary, and Samantha Levin and Ken and Bette Jedding.
President of SloaneVision Unlimited, a company she founded in 1994, Lois was a pioneer in the licensing industry. Sloane is credited with being the first to recognize the potential for classic film licensing. A two-term past president of LIMA, she began her career at International Management Group, was vice-president of licensing at MGM/UA, and launched Turner Broadcasting’s global consumer products division in 1988. She managed all of Turner’s film, television, and animation properties. She is a 2003 inductee into LIMA’s Murray Altschuler Hall of Fame in recognition of her unique industry contributions.
Mattel Reports on Q2
Mattel, Inc., reported 2010 second quarter financial results. For the quarter, the company reported net income of $51.6 million, or $0.14 per share, compared to last year’s second quarter net income of $21.5 million, or $0.06 per share.
For the quarter, net sales were $1.02 billion, up 13 percent compared to $898.2 million last year, including unfavorable changes in currency exchange rates of 3 percentage points. On a regional basis, second quarter gross sales increased 17 percent in the U.S. and increased 9 percent in international markets, including unfavorable changes in currency exchange rates of 5 percentage points. Operating income for the quarter was $69.4 million, compared to prior year’s operating income for the quarter of $32.5 million.
For the second quarter, worldwide gross sales for the Mattel girls and boys brands business unit were $653.2 million, up 21 percent versus a year ago. Worldwide gross sales for the Barbie brand were up 6 percent. Worldwide gross sales for other girls brands were up 3 percent, driven by the Disney Princess doll line. Worldwide gross sales for the wheels business, which includes the HotWheels, Matchbox, and Tyco R/C brands, were up 5 percent. Worldwide gross sales for the entertainment business, which includes Radica and games and puzzles, were up 60 percent for the quarter, primarily driven by growth in the Toy Story 3 and World Wrestling Entertainment properties, as well as core games.
Second quarter worldwide gross sales for the Fisher-Price Brands business unit, which includes the Fisher-Price Core, Fisher-Price Friends, and Power Wheels brands, were $385.2 million, or up 4 percent versus the prior year, primarily driven by sales of products supporting evergreen entertainment properties, such as Thomas and Friends and Dora the Explorer as well as solid performance in Fisher-Price Core.
Second quarter gross sales for the American Girl Brands business unit were $58.9 million, down 4 percent versus last year.
Hasbro Reports on Q2
Hasbro, Inc., reported 2010 second quarter results. The company reported net earnings of $43.6 million or $0.29 per diluted share, an increase of $4.4 million or 11 percent, compared to $39.3 million or $0.26 per diluted share in 2009. The company reported net revenues of $737.8 million compared to $792.2 million a year ago, a decrease of 7 percent. Foreign exchange impact was a positive $1.6 million to revenues in the quarter.
Worldwide net revenues for major product categories grew in two of the four categories. The games and puzzles category increased 22 percent to $262.2 million; the preschool category grew 32 percent to $103.5 million; the girls category was flat at $133.2 million; and the boys product category decreased 34 percent to $238.8 million.
U.S. and Canada segment net revenues were $444.5 million compared to $490.9 million in 2009. The results reflect growth in the games and puzzles, girls, and preschool categories, which was offset by a decline in the boys category. The U.S. and Canada segment reported an operating profit of $58.7 million compared to $56.3 million in 2009.
International segment net revenues were $261.4 million compared to $276.2 million in 2009. Foreign exchange had a negative $0.8 million impact on the segment’s second quarter revenues. The international segment reported an operating profit of $11.6 million compared to $16.5 million in 2009.
Entertainment and licensing segment net revenues of $30.5 million increased 26 percent versus $24.2 million in 2009. The results primarily reflect an increase in movie-related revenue. The entertainment and licensing segment reported an operating profit of $13 million compared to operating profit of $2.9 million in 2009.