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Non-Tech : Play-by-Play Toys and Novelties (pbyp)
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To: Chicago Russ who wrote (126)11/2/1999 5:51:00 PM
From: Kelly  Read Replies (1) of 132
 

SEC Report excerpt

(3) Is it anticipated that any significant change in results of operations for the corresponding period for the last fiscal year will be reflected by the earnings statements to be included in the subject report or portion thereof?

[X] Yes [ ] No

If so: attach an explanation of the anticipated change, both narratively and quantitively, and, if appropriate, state the reasons why a reasonable estimate of the results cannot be made.

Play By Play Toys & Novelties, Inc. expects to report a significant loss for the year ended July 31, 1999 versus net income of $8.4 million for the prior fiscal year due to a decline in net sales of approximately 12% principally in the Company's domestic retail and international operations and certain significant charges to be recorded in the fourth quarter in connection with the Company's decision to accelerate its inventory reduction initiatives and to write-down the guaranteed royalty advances on certain entertainment character licenses the
Company believes it will be unable to earn out over the lives of the agreements. As stated in Part III, the Company is in the process of finalizing its financial statements; accordingly, the Company is unable to quantify with certainty the impact of the above-described charges.

PLAY BY PLAY TOYS & NOVELTIES, INC.
(Name of registrant as specified in its charter)

Has caused this notification to be signed on its behalf by the undersigned
thereunto duly authorized.

By: /s/ JOE M. GUERRA Date: October 29, 1999
CHIEF FINANCIAL OFFICER
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