A person is silhouetted at the Spin Master toy and entertainment company in Toronto on January 29, 2019. THE CANADIAN PRESS/Nathan Denette
TORONTO – Spin Master Corp. says its preliminary fourth-quarter revenue totalled US$465.8 million, down from US$620.5 million a year earlier.
The toy company, which keeps its books in U.S. dollars, says toy revenue for the quarter totalled US$396.7 million, down from US$542.0 million, while entertainment revenue amounted to US$31.2 million, up from US$28.5 million. Digital games revenue for the quarter came in at US$37.9 million, down from US$50.0 million.
Spin Master says constant currency revenue for the quarter was down 22.0 per cent compared with the fourth quarter of 2021.
For its full year, the company says revenue totalled US$2.02 billion, down from US$2.04 billion in 2021 as toy revenue amounted to US$1.74 billion, up from US$1.73 billion a year earlier. Entertainment revenue for the year totalled US$118.8 million, down from US$135.8 million in 2021 when Paw Patrol: The Movie was released while digital games revenue for 2022 totalled US$163.9 million, down from US$174.8 million.
On a constant currency basis, Spin Master says its revenue for 2022 was up 1.4 per cent from the previous year. Excluding the Paw Patrol movie distribution revenue in 2021, constant currency revenue was up 2.7 per cent.
Spin Master is expected to report its full financial results after the close of markets on March 8.
This report by The Canadian Press was first published Feb. 7, 2023.
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