Lewis Galoob Toys Inc.: The South San...
From Times Staff and Wire Reports
Lewis Galoob Toys Inc.: The South San Francisco, Calif.-based firm said it lost $17.1 million in the fourth quarter because of slumping sales. The loss contrasts with a $4.5-million profit in the same period a year earlier. Revenue totaled $21.5 million, down 63%. For the year, Galoob said it lost nearly $32.4 million, contrasted with earnings of $18.9 million in 1989. Annual revenue fell 44% to $126.9 million. Sales of the company’s biggest seller, Micro Machines miniature cars and trucks, fell sharply.
