Topps reported its fiscal Q3 (ending November 25th) results on Wednesday. Sales for the company were up 8.1% vs. the year ago period, and earnings were $3.7 million, vs. a $3.7 million loss in the year ago period. As was the case last quarter (see 'Sports Cards Lift Topps'), much of the increase in sales was attributed to improvements in sales of sports products, which were up 11% in Q3 and 40% year to date.
WizKids, on the other hand, was down substantially vs. the year ago period, and those declines are expected to continue in fiscal Q4. The WizKids declines were related to both reductions in sales of Pirates vs. the year ago period, and 'softness' in its core gaming products.
There are apparently some improvements expected, however. In the conference call, management said it believed that the restructuring it had put into place combined with some things that are 'too early to announce' will begin to turn the WizKids business around.