Amadeusz Juskowiak

Coleco industries clc sees profit in 1987

Coleco Industries Inc said it expects to return to profitability in 1987

Earlier Coleco reported a net loss of 1112 mln dlrs for the year ended December 31 compared to a profit of 642 mln dlrs in the year earlier

In a prepared statement the company said the dramatic swing in operating results was due primarily to the steep decline in sales of Cabbage Patch Kids products from 600 mln dlrs to 230 mln dlrs

Coleco said it changed from a single product company to a more diversified organization through four major acquisitions last year

Products from the new acquisitions and other new product introductions are expected to enable it to return to profitability it said

At the annual Toy Fair earlier this month vice president Morton Handel said analysts 1987 projected earnings of 90 cts a share on sales of 600 mln dlrs are reasonable