Spiral Toys Reports Third Quarter 2015 Results
(firmenpresse) - LOS ANGELES, CA -- (Marketwired) -- 11/12/15 -- (OTCQB: STOY)a leading provider of mobile-connected, wireless entertainment technology, reported results for the third quarter ended September 30, 2015.
Revenue totaled $4.3 million compared to $1.5 million for the previous quarter and $98,000 for the same quarter of 2014.
Shipped 950,000 CloudPet components to third-party contractors, compared to 339,000 during the previous quarter, bringing the total to approximately 1.3 million.
Generated $160,000 of royalty fees compared to $13,000 during the previous quarter based on shipments of 540,000 CloudPets from Spiral Toy's distributors to retailers.
Spiral and its partners developed a new marketing campaign to drive mobile app usage and holiday sales at retailers selling CloudPets including Walmart, Target, Toys"R"Us and Kmart.
"Our performance during the third quarter reflected the completed transition from the development stage of our company as we generated increased revenue related to our flagship connected plush toy, CloudPets," commented Spiral Toys' CEO Mark Meyers.
"While we are pleased with the successful retail launch of CloudPets, we believe the technology platform and business model has proven successful and, more importantly, something we can apply to other products both within the toy industry, and beyond."
"Our focus is on creating a unique digital experience around everyday items, that leverages our proprietary connected platform. As we look forward, we plan to release three new products in 2016 in an effort to market and further build our digital ecosystem of connected users."
Revenue for the third quarter of 2015 totaled $4.3 million, which is up from $1.5 million during the previous quarter and $98,000 for the same quarter in 2014. The increases were driven by the production launch of our CloudPets line during the second quarter of 2015 and continued shipments throughout the third quarter of 2015.
Gross margin was 16.0% for the three months ended September 30, 2015, generating gross profit of $690,000, which compares with gross margins of 11.9% for the three months ended June 30, 2015, generating gross profit of $180,000. The improvements were driven by the increased production and shipments of CloudPet components.
Total operating expenses during the third quarter of 2015 totaled $941,000, which compares to $941,000 for the second quarter of 2015, and $294,000 for the third quarter of 2014. The increase reflects a $327,000 investment into product development offset by the sequential decrease in legal and professional fees.
Net loss from continuing operations for the quarter ended September 30, 2015 totaled $187,000, or $(0.00) per basic and diluted share, which compares to a loss of $831,000 or $(0.02) per basic and diluted share for quarter ended June 30, 2015, and a loss of $219,000 or $(0.01) per basic and diluted for the same period in 2014.
As of September 30, 2015, working capital totaled $913,000, which compared to $183,000 at June 30, 2015. This change was resulted from the completion of a private placement for aggregate gross proceeds of $865,000 during the three months ended September 30, 2015.
Management plans to hold a conference call later today, November 12 at 4:30 p.m. Eastern time to discuss results for the quarter. Spiral Toys' CEO Mark Meyers and CFO Akio Ariura will host the presentation, followed by a question and answer period.
Date: Today, November 12, 2015
Time: 4:30 p.m. Eastern time (1:30 p.m. Pacific time)
Domestic dial-in number: 877-407-9039
International dial-in: 201-689-8470
Conference ID: 13624081
Webcast link:
The conference call will be broadcasted live via webcast in the Investor Relations section of Spiral Toys' website at .
Please call the conference telephone number 10 minutes before the start time. An operator will register your name and organization. If you have any difficulty connecting with the conference call, please contact Michael Koehler at 949-574-3860.
A replay of the call will be available after 7:30 p.m. Eastern time on the same day through December 12, 2015.
Domestic replay number: 877-870-5176
International replay number: 858-384-5517
Conference ID: 13624081
Spiral Toys (OTCQB: STOY) is a California-based company with a business, founded by a former senior executive of Disney and Sony, focused on developing and marketing products and mobile applications in the mobile-connected space. Spiral's mobile-connected entertainment platform connects physical items to today's top mobile devices through wireless technologies, creating a new kind of interactive user experience.
Spiral sells its products worldwide, and is developing additional applications based on its platform technology for several different verticals within the entertainment industry. Spiral collects revenue on both the physical purchase of goods and the sale of digital content through Apple's App Store and the Google Marketplace. The company also acts as co-developer with major entertainment studios. For more information, visit .
All statements in this press release that are not based on historical fact are "forward-looking statements." The terms "expects", "would", "will", "believes", and similar terms are intended to identify these forward-looking statements. Forward-looking statements are based on estimates and assumptions made by Spiral Toys in light of its experience and its perception of current conditions and expected future developments, as well as other factors that Spiral Toys believes are appropriate in the circumstances. Many factors could cause Spiral Toys' actual results, performance or achievements to differ materially from those expressed or implied by the forward-looking statements. These risk factors and others relating to Spiral Toys that may cause actual results to differ are set forth in Spiral Toys' periodic filings with the U.S. Securities and Exchange Commission (copies of which filings may be obtained at ). These factors should be considered carefully, and readers should not place undue reliance on Spiral Toys' forward-looking statements. Spiral Toys has no intention and undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
Mark Meyers, CEO
Spiral Toys
Tel (844) 681-7627
Michael Koehler
Liolios
Tel (949) 574-3860
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Datum: 12.11.2015 - 21:00 Uhr
Sprache: Deutsch
News-ID 434278
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