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AP
Radica Hires Adviser to Explore Options
Monday April 3, 10:34 am ET
Radica Hires Adviser to Explore Strategic Alternatives, Including a Possible Sale
NEW YORK (AP) -- Radica Games Ltd., a maker of electronic games and accessories, said Monday it hired an Navigant Capital Advisors LLC to help it explore strategic alternatives which include the possible sale of the company.
In 2005, Hong Kong-based Radica posted net income of $10.5 million, or 54 cents a share, compared to $3.5 million, or 18 cents a share in the year-ago period. Sales rose 31.9 percent to $162.8 million from $123.4 million.
Radica's products include 20q, a handheld electronic version of the game 20 questions, along with Pocket Poker and fishing simulator Legends of the Lake. The company employs more than 6,000 people and its largest retail customers include Wal-Mart Stores Inc. and Target Corp.
Radica's shares rose 14 cents to $9.74, in morning trading on the Nasdaq.
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