-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, T2vVjRI9jZaFrRrt8l8dIZpmnEo+MSeGAPbbR+NnSYhVwS0IN3zr3WxPQ6yFktbF 3sYAoJCpzwopzbhGhOBBFQ== 0000950123-95-003276.txt : 19951119 0000950123-95-003276.hdr.sgml : 19951119 ACCESSION NUMBER: 0000950123-95-003276 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19950930 FILED AS OF DATE: 19951113 SROS: NYSE FILER: COMPANY DATA: COMPANY CONFORMED NAME: GALOOB LEWIS TOYS INC /DE/ CENTRAL INDEX KEY: 0000751968 STANDARD INDUSTRIAL CLASSIFICATION: GAMES, TOYS & CHILDREN'S VEHICLES (NO DOLLS & BICYCLES) [3944] IRS NUMBER: 941716574 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-Q SEC ACT: 1934 Act SEC FILE NUMBER: 001-09599 FILM NUMBER: 95590005 BUSINESS ADDRESS: STREET 1: 500 FORBES BLVD CITY: SOUTH SAN FRANCISCO STATE: CA ZIP: 94080 BUSINESS PHONE: 4159521678 10-Q 1 FORM 10-Q 1 SECURITIES AND EXCHANGE COMMISSION WASHINGTON D.C. 20549 FORM 10-Q (Mark One) X QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES - --- EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 1995 ------------------------------------ OR TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES - --- EXCHANGE ACT OF 1934 For the transition period from to ------------- ------------- Commission file number 1-9599 --------- LEWIS GALOOB TOYS, INC. ----------------------------------------------------------------- (Exact name of registrant as specified in its charter) Delaware 94-1716574 ------------------------------------------------------------------- (State or other jurisdiction of (I.R.S. Employer Identification incorporation or organization) Number) 500 Forbes Boulevard, South San Francisco, California 94080 ------------------------------------------------------------------- (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code (415) 952-1678 -------------- Former name, former address and former fiscal year, if changed since last report Indicate by check whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes X No ----- ----- APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY PROCEEDINGS DURING THE PRECEDING FIVE YEARS: Indicate by check mark whether the registrant has filed all documents and reports required to be filed by Section 12, 13, or 15(d) of the Securities Exchange Act of 1934 subsequent to the distribution of securities under a plan confirmed by a court. Yes No ----- ----- APPLICABLE ONLY TO CORPORATE ISSUERS: Indicate the number of shares outstanding of each of the issuer's classes of common stock, as of the latest practicable date. Common stock, par value $.01, 10,077,265 as of September 30, 1995. 2 LEWIS GALOOB TOYS, INC. AND SUBSIDIARIES INDEX PART I - FINANCIAL INFORMATION - -------------------------------- Item 1 Page - Condensed Consolidated Balance Sheets 1 - Condensed Consolidated Statements of Operations 2 - Condensed Consolidated Statements of Cash Flows 3 - Notes to Condensed Consolidated Financial Statements 4-6 Item 2 - Management's Discussion and Analysis of Financial Condition and Results of Operations 7-10 PART II - OTHER INFORMATION - ----------------------------- Item 1 - Legal Proceedings 11 Item 3 - Defaults Upon Senior Securities 11 Item 6 - Exhibits and Reports on Form 8-K 11 SIGNATURE 12 - ---------
3 LEWIS GALOOB TOYS, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (in thousands)
(Unaudited) (Unaudited) (Audited) Sept 30 Sept 30 December 31 ASSETS 1995 1994 1994 - ------ ---------- ---------- ----------- CURRENT ASSETS: Cash and cash equivalents $ 3,758 $ 3,094 $ 2,225 Accounts receivable 65,873 55,050 57,883 Inventories 19,236 14,356 16,824 Tooling and related costs 7,298 5,594 8,379 Prepaid expenses and other assets 11,885 5,907 5,492 -------- ------- -------- TOTAL CURRENT ASSETS 108,050 84,001 90,803 LAND, BUILDING AND EQUIPMENT, NET 8,168 8,428 8,400 OTHER ASSETS 1,126 1,224 1,563 -------- ------- -------- $117,344 $93,653 $100,766 ======== ======= ======== LIABILITIES AND SHAREHOLDERS' EQUITY - ------------------------------------ CURRENT LIABILITIES: Notes payable $25,312 $5,653 $ 6,971 Accounts payable 18,968 12,569 14,973 Accrued expenses 10,921 17,829 14,939 Income taxes payable 248 562 499 Current portion of long-term debt 214 204 202 -------- ------- -------- TOTAL CURRENT LIABILITIES $55,663 $36,817 $37,584 LONG-TERM DEBT 18,256 18,258 18,414 SHAREHOLDERS' EQUITY: Preferred stock Authorized 1,000,000 shares Issued and outstanding 183,950 shares of $17 Convertible Exchangeable Preferred Stock at $200 liquidation value per share 36,790 36,790 36,790 Common stock, par value $.01 per share Authorized 50,000,000 shares Issued and outstanding 10,077,265 shares, 10,104,589 shares and 10,055,089 shares 101 101 101 Additional paid-in capital 31,671 31,726 31,506 Retained earnings (deficit) (24,690) (29,591) (23,182) Cumulative translation adjustment (447) (448) (447) -------- -------- -------- TOTAL SHAREHOLDERS' EQUITY 43,425 38,578 44,768 -------- -------- -------- $117,344 $ 93,653 $100,766 ======== ======== ========
The accompanying notes are an integral part of these Consolidated Financial Statements. 1 4 LEWIS GALOOB TOYS, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (in thousands, except per share amounts) (Unaudited)
Three Months Ended Nine Months Ended Sept 30 Sept 30 ------------------------- --------------------------- 1995 1994 1995 1994 ---- ---- ---- ---- Net revenues $65,518 $50,273 $137,078 $114,227 Costs of products sold 40,369 30,336 89,945 69,017 ------- ------- ------- ------- Gross margin $25,149 $19,937 $ 47,133 $45,210 Operating expenses: Advertising and promotion 8,077 7,267 17,739 19,483 Other selling and administrative 7,640 6,142 22,476 17,468 Research and development 1,729 1,930 6,195 6,470 ------- ------- ------- ------- Total operating expenses 17,446 15,339 46,410 43,421 ------- ------- ------- ------- Earnings (loss) from operations 7,703 4,598 723 1,789 Net proceeds from Nintendo award 0 0 0 12,124 Interest expense (970) (597) (2,357) (1,730) Other income (expense), net 104 71 213 308 ------- ------- ------- ------- Earnings (loss) before income taxes 6,837 4,072 (1,421) 12,491 Provision for income taxes 0 163 0 477 ------- ------- ------- ------- Net earnings (loss) 6,837 3,909 (1,421) 12,014 Preferred stock dividends in arrears 781 781 2,345 2,345 ------- ------- ------- ------- Net earnings (loss) applicable to common shares $ 6,056 $ 3,128 $(3,766) $ 9,669 ======= ======= ======= ======= Common shares and common share equivalents outstanding - average 10,373 10,363 10,068 10,047 Net earnings (loss) per common share: Primary $0.58 $0.30 $(0.37) $0.96 Fully diluted $0.50 $0.29 $(0.37) $0.91
The accompanying notes are an integral part of these Consolidated Financial Statements. 2 5 LEWIS GALOOB TOYS, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (in thousands)
(Unaudited) Nine Months Ended Sept 30 ------------------------- 1995 1994 ---- ---- CASH FLOW FROM OPERATING ACTIVITIES: Net earnings (loss) $(1,422) $12,014 Adjustments to reconcile net earnings (loss) to net cash provided by (used in) operating activities: Depreciation 130 486 Changes in assets and liabilities: Accounts receivable (7,990) (21,667) Inventories (2,412) (1,377) Tooling and related costs 1,081 (574) Prepaid expenses and other assets (5,956) 1,605 Accounts payable 3,995 1,735 Accrued expenses (4,006) 2,756 Income taxes payable (251) 280 ------- ------- Net cash provided by (used in) operating activities (16,831) (4,742) -------- ------- CASH FLOW FROM INVESTING ACTIVITIES: Investment in land, building and equipment, net 102 (352) ------- ------- Net cash provided by (used in) investing activities 102 (352) ------- ------- CASH FLOW FROM FINANCING ACTIVITIES: Net borrowings under notes payable 18,341 5,653 Repayments under long-term debt agreements (158) (146) Proceeds from issuance of common stock 79 382 Other, net 0 (26) ------- ------- Net cash provided by (used in) financing activities 18,262 5,863 ------- ------- INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 1,533 769 CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 2,225 2,325 ------- ------- CASH AND CASH EQUIVALENTS AT END OF PERIOD $ 3,758 $ 3,094 ======= =======
The accompanying notes are an integral part of these Consolidated Financial Statements. 3 6 LEWIS GALOOB TOYS, INC. AND SUBSIDIARIES NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS THREE AND NINE MONTHS ENDED SEPTEMBER 30, 1995 (Unaudited) NOTE A - CONDENSED CONSOLIDATED FINANCIAL STATEMENTS The condensed consolidated balance sheets as of September 30, 1995 and 1994 and the condensed consolidated statements of operations for the three and nine month periods ended September 30, 1995 and 1994 and the condensed consolidated statements of cash flows for the nine month periods ended September 30, 1995 and 1994 have been prepared by the Company without audit. In the opinion of management, all adjustments (which include only normal recurring adjustments) necessary to present fairly the financial position, results of operations and cash flows for all periods presented have been made. Certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles have been omitted. It is suggested that these condensed consolidated financial statements be read in conjunction with the financial statements and notes thereto included in the Company's Annual Report on Form 10-K for the year ended December 31, 1994. The results of operations for the three and nine month periods ended September 30, 1995 and 1994 may not necessarily be indicative of the operating results for the full year. Certain amounts in the financial statements have been reclassified to conform with the current year's presentation. NOTE B - CREDIT AGREEMENT The Company was party to a loan and security agreement (the "Loan Agreement") with Congress Financial Corporation (the "Lender") which made available to the Company through March 31, 1995 a line of credit up to $30 million. Borrowing availability was determined by a formula based on accounts receivable. The interest rate was prime plus 2%. On March 31, 1995, the Company entered into an amended and restated loan and security agreement (the "New Agreement") with the Lender. The New Agreement extends the loan term through March 31, 1997 and provides a line of credit of $40 million, with a provision to increase the line to $60 million at the option of the Company. Borrowing availability is determined by a formula based on both accounts receivable and inventories. The interest rate is prime plus 1% (1% lower than the rate applicable to the previous Loan Agreement). In consideration for entering into the New Agreement, the Company paid a $100,000 fee; additional fees will be due if 4 7 LEWIS GALOOB TOYS, INC. AND SUBSIDIARIES NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS THREE AND NINE MONTHS ENDED SEPTEMBER 30, 1995 (Unaudited) the Company exercises its option to increase the line. The Company has also agreed to pay an unused line fee of 0.25% and certain management fees. The New Agreement provides that the preferred dividend payments may not be made without the prior consent of the Lender. NOTE C - INVENTORIES (in thousands)
September 30 December 31 ------------------ ----------- 1995 1994 1994 ---- ---- ---- Finished goods $18,521 $ 11,337 $15,596 Raw materials and parts 715 3,019 1,228 ------- ------ ------ $19,236 $14,356 $16,824 ------- ------- -------
NOTE D - INCOME TAXES At December 31, 1994, the Company had federal and California net operating loss carryforwards for income tax purposes of approximately $11,500,000 and $1,000,000, respectively. The federal and California carryforwards expire in different years through the year 2008 and 1998, respectively. The Company also has federal minimum tax credit carryforwards of $944,000 that are allowed to be carried forward indefinitely and federal research and development credits of $765,000, which will expire in different years through the year 2003. If certain substantial changes in the Company's ownership should occur, there would be an annual limitation on the amount of operating loss carryforwards which can be utilized. The Company expects to utilize a substantial amount of its net operating loss carryforwards by 1996. No domestic deferred taxes have been provided on undistributed earnings of the Company's foreign subsidiary. All such earnings are expected to be reinvested in the subsidiary. Undistributed earnings were approximately $5,500,000 as of December 31, 1994. No foreign taxes will be withheld on the distribution of the untaxed earnings. 5 8 LEWIS GALOOB TOYS, INC. AND SUBSIDIARIES NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS THREE AND NINE MONTHS ENDED SEPTEMBER 30, 1995 (Unaudited) NOTE E - LEGAL PROCEEDINGS The current status of litigation is described in Part II, Item 1, herein. 6 9 LEWIS GALOOB TOYS, INC. AND SUBSIDIARIES Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations Results of Operations The following table sets forth for the periods indicated the percentage relationships between revenues and certain expense and earnings items:
Percentage of Net Revenues -------------------------- Three Nine Months Ended Months Ended Sept 30 Sept 30 -------------- -------------- 1995 1994 1995 1994 ---- ---- ---- ---- Net revenues 100.0% 100.0% 100.0% 100.0% Costs of products sold 61.6 60.3 65.6 60.4 ----- ----- ----- ----- Gross margin 38.4 39.7 34.4 39.6 Advertising and promotion 12.3 14.5 13.0 17.0 Other selling and administrative 11.7 12.2 16.4 15.3 Research and development 2.6 3.8 4.5 5.7 ----- ----- ---- ---- Earnings (loss) from operations 11.8 9.2 0.5 1.6 Net proceeds from Nintendo award - - - 10.6 Interest expense (1.5) (1.2) (1.7) (1.5) Other income (expense), net 0.1 0.1 0.2 0.2 Provision for income taxes - (0.3) - (0.4) ------ ------ ----- ------- Net earnings (loss) 10.4 % 7.8 % (1.0) % 10.5 % ====== ====== ====== =======
1995 Compared to 1994 Net revenues of $65.5 million in the third quarter of 1995 represented a 30% increase from net revenues of $50.3 million in the third quarter of 1994. Both domestic and international sales grew by 30%, with international sales reaching record levels. In the third quarter of 1995 Sky Dancers(TM) and My Pretty Dollhouse(TM) sales were $24.1 million and $3.4 million, respectively. These products were first introduced in late 1994. 7 10 LEWIS GALOOB TOYS, INC., AND SUBSIDIARIES MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS continued Micro Machines(TM) sales were $28.8 million in the third quarter of 1995 as compared to $31.1 million in the same period in 1994. The decrease in sales is mainly attributable to a decline in sales from the Micro Machines Z-BOTS(TM) segment and this decline is expected to continue. Biker Mice from Mars(TM) sales were $7.5 million in the third quarter of 1995 as compared to $14.4 million in 1994. Domestic sales to retailers have discontinued, as planned, while international sales have been strong. Net revenues of $137.1 million in the nine month period ended September 30, 1995 represented a 20% increase from net revenues of $114.2 million in the same period in 1994. Sky Dancers and My Pretty Dollhouse sales were $44.0 million and $7.3 million, respectively. Micro Machines sales were $56.9 million as compared to $65.2 million in 1994. Biker Mice from Mars sales were $19.6 million as compared to $33.3 million in 1994. These sales trends reflect the same factors as noted for the third quarter results. Gross margins were $25.2 million in the third quarter of 1995 as compared to $19.9 million in the same period of 1994. The higher sales volume increased gross margin by $6.0 million but was offset by a $0.7 million decrease from a lower gross margin rate. The gross margin rate decreased to 38.4% in 1995 from 39.7% in 1994 due mainly to tooling and packaging development costs. These costs were a higher percent of revenues in 1995 as compared to 1994, because of planned increased spending in support of the Company's expanded product lines. Gross margins were $47.1 million in the nine month period ended September 30, 1995 as compared to $45.2 million in the same period in 1994. The higher sales volume increased gross margins by $9.0 million but was offset by a $7.1 million decrease from a lower gross margin rate. The gross margin rate decreased to 34.4% in 1995 from 39.6% in 1994 due primarily to two factors. First, tooling and packaging design costs were a higher percent of revenues in 1995 as compared to 1994 in support of the Company's expanded product lines. Second, international sales as a percentage of worldwide revenues were higher in 1995 compared to 1994. The Company's gross margin on international sales is significantly lower than domestic sales because international prices are lower as the customer is responsible for the cost of importing and promoting the product. Advertising and promotion expenses were $8.1 million in the third quarter of 1995 as compared to $7.3 million in the same period in 1994. The higher expenses were a result of higher domestic sales because media is expensed as a percent of sales. 8 11 LEWIS GALOOB TOYS, INC., AND SUBSIDIARIES MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS continued Advertising and promotion expenses as a percentage of net revenues in the third quarter were 12.3% in 1995 compared to 14.5% in 1994. For the nine month period ended September 30, 1995 advertising and promotion expenses were $17.7 million or 12.9% of net revenues in 1995 as compared to $19.5 million or 17.0% in 1994. The lower expenses were a result of a decrease in planned domestic television advertising expense as a percent of sales. Other selling and administrative expenses were $7.6 million in the third quarter of 1995 as compared to $6.1 million in the same period in 1994. For the nine month period ended September 30, 1995, other selling and administrative expenses were $22.5 million in 1995 as compared to $17.5 million in the same period in 1994. For the quarter and nine month period ended September 30, 1995 the increase in expenses was due mainly to (1) higher planned personnel costs as a result of the Company's growth and product line expansion,(2) higher legal expenses and (3) higher freight costs. Research and development expenses were $1.7 million in the third quarter of 1995 as compared to $1.9 million in the same period in 1994. For the nine month period ended September 30, 1995 research and development expenses were $6.2 million in 1995 compared to $6.5 in 1994. The decrease was due to timing of expenditures in 1995 as compared to 1994. In 1994, the net proceeds from the Nintendo award represents the receipt, net of associated legal and related expenses, of the Company's share of proceeds from its litigation with Nintendo. Interest expense was $1.0 million in the third quarter of 1995 as compared to $0.6 million in the same period in 1994. For the nine month period ended September 30, 1995 interest expense was $2.4 million in 1995 as compared to $1.7 million in the same period in 1994. The increase was due to higher average borrowings and a higher interest rate in 1995 as compared to 1994. In 1995, no tax provisions were recorded due to the Company's net operating loss and tax credit carryforwards. In 1994, the income tax provision reflects the quarterly application of the estimated annual rate based on the projected full year earnings and includes the utilization of net operating loss carryforwards. 9 12 LEWIS GALOOB TOYS, INC., AND SUBSIDIARIES MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS continued The Company's products are produced principally in China which currently is designated with "most favored nation" ("MFN") status by the United States. This allows products imported into the United States from China to be accorded the most favored import duties. In late 1994, Congress approved the GATT (Uruguay round) unconditional duty-free entry from any nation with MFN status. Generally, the trade negotiations between China and the United States have been difficult, but both sides have shown their willingness to resolve trade disputes and avoid punitive sanctions. Punitive sanctions could result in the United States imposing higher duties on selective Chinese-made products imported into the United States (these sanctions would be put in place through Section 301). In the past Section 301 sanctions proposed by the United States did not include sanctions or punitive duties against toy imports from China. As such, the Company would be unaffected. The loss of MFN status for China would result in a substantial increase in import duty for the Company's products produced in China and imported into the United States. This increase in duty would be large enough that it could materially affect the Company's business. Products shipped to other countries should not be affected. Other toy companies also source product from China and would be affected to similar degrees. However, the impact on the Company from any significant change in duties on its Chinese produced product would depend on several factors including, but not limited to, the Company's ability to: (1) procure alternative manufacturing sources outside of China; (2) retrieve its tooling located in China; (3) relocate its production in sufficient time to meet demand; and (4) pass resultant cost increases through as product price increases. Liquidity, Financial Resources and Capital Expenditures On March 31, 1995, the Company entered into the New Agreement with the Lender. (See Note B of the Notes to Condensed Consolidated Financial Statements). Working capital was $52.4 million at September 30, 1995 compared to $53.2 million at December 31, 1994 and $47.2 million at September 30, 1994. The ratio of current assets to current liabilities was 1.9 to 1.0 at September 30, 1995 compared to 2.4 to 1.0 at December 31, 1994 and 2.3 to 1.0 at September 30, 1994. The Company had no material commitments for capital expenditures at September 30, 1995. The Company believes that with its assets, the results of operations and the New Agreement it has adequate liquidity and capital resources to meet its current and anticipated operating needs. 10 13 LEWIS GALOOB TOYS, INC. AND SUBSIDIARIES PART II Item 1. Legal Proceedings The Company is involved in various legal and/or litigation matters which are being defended and handled in the ordinary course of business. None of these matters is expected to result in outcomes having a material adverse effect on the Company's consolidated financial position. Item 3. Defaults Upon Senior Securities On June 10, 1992, the Company announced it would not pay the July 1, 1992 $0.425 per share quarterly dividend on its Depositary Shares which represent shares of the Company's Preferred Stock. The Company has not paid the subsequent quarterly dividends. As of September 30, 1995, the dividend was cumulatively fourteen quarters in arrears, representing a total dividend arrearage of $11.0 million. By the terms of the Certificate of Designations for the Company's Preferred Stock, the Company is not legally obligated to pay any such arrearage. The Company has consistently maintained that it is not in its best interest to reinstate the dividend until the Company has generated consistent net income from operations and continuation of such profitability can be reasonably expected. Based upon recent results, the Company has been evaluating its alternatives with regard to the preferred stock. The net earnings (loss) per share calculation includes a provision of the Preferred Stock dividends in arrears. No common stock dividends may be paid unless all preferred dividend payments are current. As a result of the cumulative dividend being six or more quarters in arrears, on July 15, 1994 the holders of the Preferred Stock exercised their right to elect two directors to the Board of Directors of the Company. Item 6. Exhibits, and Reports on Form 8-K (a) Exhibits - Exhibit 27 - Financial Data Schedule (b) Reports on Form 8-K - None. 11 14 Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. LEWIS GALOOB TOYS, INC. (Registrant) DATE: November 14, 1995 BY: \s\ William B. Towne ---------------------- ----------------------- William B. Towne Executive Vice President, Finance and Chief Financial Officer (Principal Accounting Officer) 12 15 EXHIBIT INDEX Exhibit 27 - Financial Data Schedule EX-27 2 FINANCIAL DATA SCHEDULE
5 This schedule contains summary financial information extracted from the financial statements of Lewis Galoob Toys, Inc. for the quarter ended September 30, 1995, and is qualified in its entirety by reference to such financial statements. 1,000 3-MOS DEC-31-1995 JUL-01-1995 SEP-30-1995 3,758 0 72,328 6,455 19,236 108,050 14,606 6,438 117,344 55,663 18,256 101 36,790 0 6,534 117,344 65,518 65,518 40,369 40,369 17,446 0 970 6,837 0 0 0 0 0 6,837 0.58 0.50
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