RC2 Says Third-quarter Profit Rises Amid Cost Cuts
OAK BROOK, Ill. (AP) ¿ RC2 Corp. said Tuesday that its third-quarter profit rose 22.4 percent to $13.6 million as the toy designer and marketer cut costs in the face of a 4.8 percent sales decline.
It also raised its full-year profit outlook.
The company's net income for the three months ended Sept. 30 was 66 cents a share, compared to a profit of $11.1 million, or 64 cents a share, a year earlier.
Revenue in the July-September quarter fell to $126.5 million from $132.9 million a year earlier.
Analysts surveyed by Thomson Reuters, on average, were expecting third-quarter earnings of 58 cents a share on revenue of $131 million. The company's selling, general and administrative expenses fell to $36.9 million, or 29.1 percent of net sales, in the third quarter 2009, compared with $41.0 million, or 30.9 percent of net sales, in 2008's third quarter 2008. Going forward, the company said it now expects that full-year 2009 net income will be higher than the $23.5 million reflected in its previous guidance and will range from roughly $25 million to $27 million, or $1.30 to $1.40 per fully diluted share. Analysts were expecting full-year earnings of $1.35 a share.Select the service that is right for you!
COMPARE ALL SERVICESAction Alerts PLUS
TRY IT FREEJim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
Product Features:
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Dividend Stock Advisor
TRY IT FREENew! $49.95/yr
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
Product Features:
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Stocks Under $10
TRY IT FREEDavid Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.
Product Features:
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
- Weekly roundups
Real Money
TRY IT FREE24/7 market commentary from Jim Cramer and 20+ veteran Wall Street gurus. Get access to the latest trading ideas on stocks, options, and ETFs as well as a real-time forum to see the pros exchanging their investment ideas.
Product Features:
- Jim Cramer + 20 Wall Street pros
- Intraday commentary & news
- Real-time trading forum
- Actionable trade ideas
Real Money Pro
TRY IT FREEAll of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
Product Features:
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Options Profits
TRY IT FREEOur options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
Product Features:
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV
