RC2 second-quarter results top Wall Street

By Reuters
Posted July 20, 2010 at 5:19 p.m.

Toymaker RC2 Corp RCRC.O posted a better-than-expected second-quarter profit aided by better international sales, and forecast a marginal fall in profit for the third quarter.

The company, whose toy lines include Bob The Builder and Johnny Lightning, earned $3.8 million, or 17 cents a share, compared with $3.3 million or 19 cents a share, a year ago.

Revenue fell 1.1 percent to $86.1 million.

Analysts on average were looking at earnings of 15 cents a share before items, on revenue of $83.6 million, according to Thomson Reuters I/B/E/S.

RC2, like some of its peers, has cut costs and raised prices to deal with the difficult retail environment for toys.

The Oak Brook, Illinois-based company, which forecast a slight decline in profit for the third quarter, expects a full-year profit of about $1.40 a share to $1.45 a share.

International sales rose 12.8 percent to $25.1 million due to strong international growth in the mother, infant and toddler products category, the company said.

Shares of the company closed at $15.09 Tuesday on Nasdaq.

 

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