Janex Posts Loss as Revenue Slides 34%
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Janex International Inc. posted a net loss in its third quarter, as its sales fell 34%.
The Woodland Hills-based maker of children’s products posted a net loss of $357,693 in the quarter that ended Sept. 30, compared to a $239,149 profit a year ago. Sales in the latest quarter fell to $2.98 million, down from $4.53 million last year.
For the nine months, Janex posted a net loss of $896,065, compared to a net loss of $290,596 a year earlier. Sales for the nine months fell 17% to $6.3 million from $7.6 million.
The company said its poor results were due to a lack of major licensed toy products this year.
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