Action Products gains in Q3
By Staff -- Playthings, 10/10/2008 9:46:00 AM
ORLANDO, Fla.—Action Products International said today that sales from its children’s business grew approximately 3 percent in the third quarter versus the comparable period of 2007. It was the specialty toy maker’s first quarterly sales gain in three years.
The company attributed the positive sales tally to a concentrated effort by its sales team to focus on inventory in stock while reallocating expenses to sales channels that show immediate growth, and inventory management efforts implemented by its API’s new management team.
"This is a significant step for the new management team because our goal was to take advantage of the inventory we had on hand and maximize the sales to our existing accounts,” said CEO Neil Swartz. “These results indicate that we are moving in the right upward direction."
Further specifics of the company's financial performance during the period were not announced.
