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Golden: Possible Profits in 2000?
-- 8/31/98
Golden Books' second quarter filing with the Securities and Exchange Commission contains some careful wording about when the company expects to become profitable. In past reports, Golden said that it did not expect to become profitable until 1999 "at the earliest."
In its most recent filing, Golden reported that because its "new strategy has not been fully implemented, the company d s not expect to generate positive net income until beyond 1999 at the earliest."

In the second quarter, Golden lost $30.6 million on sales of $43.1 million. The company's consumer publishing group reported a 5.9% decline in sales to $37 million. Golden attributed the drop to reduced promotional activity and lower purchases by a number of retailers, including Toys R Us and Zellers, that were partially offset by improved sales in its Merrigold line. Revenues in the entertainment segment rose 39%, to $4.6 million.
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