APII Sales Increase in Q-3 2008
Children's' product business delivers first quarterly sales increase in three years.9/20/08
Orlando, FL — (Market Wire) — Oct 9, 2008 — As part of the new directives under the newly appointed management APII (NASDAQ: APII), a brand driven consumer products company, reports an increase in sales of approximately 3% for the third quarter ended Sept. 30, 2008 over the comparable period in 2007. Immediate changes to the direction of the sales team and inventory management implemented by the new management team produced Actions first increase in quarter over quarter sales in nearly three years.
CEO Neil Swartz has commented on the positive results and recognizes that this is a first step to realigning the company. "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. These results indicate that we are moving in the right upward direction".
The new management team has a positive outlook for the toy business and credits the increase of sales to a concentrated effort to focus on inventory in stock while reallocating expenses to sales channels that show immediate growth. In addition to the increase in sales the company is undergoing a cost reduction evaluation to eliminate any non-productive expenditure. These successes highlight the opportunity for 2009 and support the management team's effort to execute the tactical plan established in early September.
Mr. Swartz also noted that these immediate changes and those still to come will be part of the company's mission to become a focused sales and marketing consumer products company. These recent sales increases result from executing the basic fundamentals and leveraging an existing collection of award winning branded products such as I Dig™, Curiosity Kits™, Play and Store™, Space Voyagers™ and Kidz Workshop™.About Action Products International, Inc.
Action Products International, Inc. is a global manufacturer and distributor of brand-focused educational toys and crafts. Headquartered in Orlando, Florida, the Company's product line includes action figures, play-sets, activity kits and premium wooden toys that emphasize educational fun within the themes of arts and crafts, nature and science. Action Toys Inc.'s products are distributed to and sold by more than two thousand retail stores worldwide. For more information about the Action Toys Inc., please visit our website at www.apii.com.
Contact:Ken Ninomiya, VP Business Development
407 481-8007
KNinomiya@apii.com
