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BRIEF-Spin Master Expects To Report Decrease Of About 1% In Gross Product Sales For 2019

Published 2020-01-21, 06:40 a/m
Updated 2020-01-21, 12:45 p/m
BRIEF-Spin Master Expects To Report Decrease Of About 1% In Gross Product Sales For 2019

Jan 21 (Reuters) - Spin Master Corp TOY.TO :

* SPIN MASTER UPDATES 2019 FULL YEAR OUTLOOK

* SPIN MASTER CORP - EXPECTS TO REPORT DECREASE OF ABOUT 1% IN GROSS PRODUCT SALES FOR 2019 COMPARED TO 2018

* SPIN MASTER CORP - EXCLUDING IMPACT OF FOREIGN EXCHANGE, EXPECTS GROSS PRODUCT SALES FOR 2019 TO BE ABOUT FLAT RELATIVE TO 2018

* SPIN MASTER CORP - EXPECTS ADJUSTED EBITDA MARGIN FOR 2019 TO BE ABOUT 14%

* SPIN MASTER CORP - ORDER LEVELS, SHIPMENTS AND OPERATIONAL PERFORMANCE FOR REMAINDER OF YEAR WERE CONSIDERABLY BELOW EXPECTATIONS

* SPIN MASTER - DECREASE IN GROSS PRODUCT SALES OUTLOOK DRIVEN BY DECLINE IN SALES IN U.S. DUE TO SOFTNESS OF TOY SALES IN SHORTENED 2019 HOLIDAY SEASON

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