Janex Profits Plummet as Power Rangers Sales Fall
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Janex International Inc., a Woodland Hills-based toy company, saw its profits tumble more than 75% while its sales fell about 30% in the third quarter that ended Sept. 30.
Janex posted a $239,149 profit in the latest quarter, compared to a $1.1-million profit a year earlier. Sales in the most recent quarter were $4.5 million, down from $6.5 million a year ago.
Sheldon F. Morick, Janex’s chief executive, attributed the profit slide to a drastic slowing in sales of the company’s Power Ranger merchandise. Last year the company sold $3.3 million worth of Power Rangers products in the third quarter; in this year’s quarter, those sales slumped to $403,000.
For the nine months ending Sept. 30, Janex lost $290,596, compared to a $1.1-million profit a year earlier. Sales for nine months fell 34% to $7.6 million from $11.6 million.
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