Sales, Losses Up at Trudy
by Staff -- Publishers Weekly, 1/5/2004
A licensing agreement with Disney Publishing Worldwide had both positive and negative results for Trudy Corp.'s six-month results. Sales for the first half of the year, ended September 30, rose 9.4%, to $1.7 million, due mainly to initial shipments of Disney planograms to mass merchandisers. Higher expenses associated with developing the materials in a short time frame upped Trudy's costs in the period, resulting in an increase in its net loss, to $584,635, from $478,914 in last year's first six months.
Trudy signed the agreement with Disney in June and began selling the products in September. Under the agreement, Trudy has the North American rights to publish certain novelty book and CD formats featuring a range of Disney characters. The first products are aimed at the preschool market and are priced at $12.99 and up.
