Last Updated on May 10, 2021 by Danielle
Spin Master reports revenue increases for the first quarter of 2017.
Spin Master has announced its financial results for the first quarter of 2017. The company reported revenue increases for this period compared to last year.
Spin Master’s net income rose from $9.9 M in Q1 2016 to $10.1 M in Q1 2017, an increase of 2% or $0.10 per share.
Ben Gadbois, President and Chief Operating Officer of Spin Master, stated that Spin Master continues to deliver great financial results. Spin Master has been working on its four growth strategies. Furthermore, they have been making strategic investments to achieve growth.
The company’s gross sales have surpassed their standards and Spin Master’s strategy is to increase worldwide sales. Sales grew by 33 percent in North America and 40 percent in Europe. Spin Master has managed its inventory tightly and consumer engagement with Spin Master’s brands and products are high based on retail analyses.
Ronnen Harary, CEO at Spin Master, stated that their momentum from last year is carrying over to 2017. More specifically, Paw Patrol and Rusty Rivets are performing well with children around the world. Additionally, Hatchimals continues to have success and the Hatchimals CollEGGtibles demonstrate Spin Master’s competence with innovation. The Hatchimals CollEGGtibles were honored by Toy Buzz as one of the Best New Toys at Toy Fair 2017 and are expected to be a hit with kids and make Toy Buzz’s annual Top Toys For Christmas 2021 Wish List.