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Spin Master delivers 31% increase in revenue in Q4 2016.
Spin Master revealed nearly a 31% increase in revenue for the fourth quarter of 2016. Spin Master called these strong financial results.
Sales revenue was $376 M for the fourth quarter of last year. In Q4 2015, revenue was $288 M. This represents an $88 M increase year-over-year. According to Spin Master, this growth was primarily driven by Paw Patrol and Hatchimals. The newest Hatchimals toys from Spin Master could potentially make Toy Buzz’s annual Best Toys of Christmas 2017 list. Spin Master’s Meccano, Kinetic Sand and Air Hogs Star Wars products all experienced declines in sales. Gross product sales increased by about 26%.
Anton Rabie, Co-CEO of Spin Master, stated that the company’s excellent Q4 2016 performance drove strong growth for the company.
Reportedly, the company has improved its financing capacity, flexibility, and cash flow, which will all serve to support Spin Master’s growth in the future.
Additionally, Spin Master reported that the company’s integration of Swimways, Toca Boca, and Cardinal properties is going well. The company’s worldwide sales, marketing, distribution network, and world market presence is stronger than last year.
Spin Master identified business opportunities in Europe, Asia, Australia as well as other international markets. In an effort to achieve its goal of 40% of its sales from international customers, Spin Master plans on seizing these critical opportunities.