WE HAVE LIFTOFF!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
RADAF reported an after tax profit of $9 million or $.43 per share for the first qtr ending 1/31/98, versus $2.52 million or $.12 per share for the first quarter of 1997.
Total revenues for the first quarter of fiscal 1998 were $26.47 million, increasing 108.9% from $12.67 million for the same quarter last year.
The gross profit the first quarter of 1998 increased by $9.19 million to $14.67 million from $5.48 million in the first quarter of 1997 and the gross margin for the first quarter increased to 55.4% from 43.2% for the same quarter last year.
The company has purchased 860,400 shares in the year to date. Of these, 648,800 were purchased during the quarter at an average price of $14.525 and 175,600 were bot at an average price of $14.97 after Jan 31,1998.
Our sell in of 1998 products to stores has been excellent with spring sets taking a significantly larger number of SKU's than in previous years. The start of the New Year was enhanced by the award of Vendor of the Year from Toys R Us at the New York toy show.
We are producing seven of Hasbro's new 1998 games including Trivial Pursuit,Mastermind,and Monopoly, and we currently have substantial orders from HAS for fiscal 1998. We are also working on the design of several products for HAS in fiscal 1999 including a line of Star Wars handheld games, according to Bob Davids, CEO.
Currently we have 2,867 staff and workers in China compared to 1,270 in Feb of 1997.
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