Topps’ Profit Rises 38% on Higher Sales
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Topps Co., the maker of collectible trading cards and Bazooka bubble gum, said fiscal fourth-quarter profit rose 38% as its European soccer and “Yu-Gi-Oh” Japanese cartoon products led sales higher.
Net income increased to $1.99 million, or 5 cents a share, from $1.45 million, or 3 cents, a year earlier, the New York-based company said. Sales in the period ended March 1 rose 9.4% to $65.7 million from $60 million. The strength of foreign currencies against the U.S. dollar boosted sales by $2.2 million in the quarter, Topps said.
Shares of Topps fell 34 cents, or 4%, to $8.46 on Nasdaq.
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