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Non-Tech : GRIN (Grand Toys International Inc)
GRIN 27.400.0%Dec 5 9:30 AM EST
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To: BobbleUnc who wrote (163)4/13/1999 5:20:00 PM
From: Frank McVerry  Read Replies (3) of 495
 
GRIN Update

I called Ron Goldenberg, CFO at GRIN yesterday to get an update
on the company and here is a summary of his comments:

* SALES - these remain strong..."order book is heavier than ever".
Toy lines such as Star Wars/WWF/Spiderman are doing well. Also
Furby still selling strongly (see later comments).

* EARNINGS - the Q1 earnings will be released late-April
or early-May.

* CURRENCY - The company is not presently carrying any US$ balance
so reducing some of the exposure to exchange rates. Recent exchange
rates have been neutral/supportive. However, further improvement in
the CAN$ would still be helpful.

* NEW TOY LINES - Company has been in discussion with certain Asian
manufacturers for production of the Ark puzzles. They are planning
new puzzles to add to the present parrot kits. Slow but steady
progress is being made with sales of the Majorette toys.

* WEBSITE - A feasibilty study continues on whether they will set
up a full e-commerce site. They have not yet convinced themselves
that they can make money in this way. The only toy-lines that could
be sold into the USA through the site are presently Ark, Majorette
and Solido. (No Tiger or other US sourced toys)

* FURBY - sales remain strong and they are distributing everything
they receive. Company expects to be distributing the Furby 'beanies'
in about 6 weeks and Furby 'babies' from September.

FWIW,

Frank
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