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Microcap & Penny Stocks : Tokyo Joe's Cafe / Societe Anonyme/No Pennies

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To: J D B who wrote (33108)	12/23/1998 6:54:00 PM
From: Tim Luke	Read Replies (1) of 119973

Wednesday December 23, 6:06 pm Eastern Time Toymax sees Q3 earns missing estimates PLAINVIEW, N.Y., Dec 23 (Reuters) - Toymax International said Wednesday its sales and earnings figures for the third quarter would likely miss market estimates because reorders had failed to meet historic levels. Toymax Chief Financial Officer Bill Johnson told Reuters the toy maker's sales would fall below the $49 million estimate, while earnings would not meet the $0.62 per share forecast for operating profit. Johnson blamed slow orders from retailers. Toymax, best known for the plastic bugs called Creepy Crawlers, said in a statement it was nevertheless satisfied with the results. ''Given the current state of the industry...we are very pleased with the results...and positive about the retail response to our diverse product line and our inventory position going into next year,'' it said. Toymax reported a profit of $0.39 per share before a tax benefit for the same period last year. Its stock ended 9/16 lower at 5-3/4 on the Nasdaq market.

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