March 14 (Reuters) - Canada’s Mega Brands reported a 97 percent fall in adjusted fourth-quarter profit hurt mainly by lower toy sales in the United States.
The toymaker’s quarterly net income fell to $234,000 from $11.3 million a year ago.
On an adjusted basis, the company earned 2 cents per share, compared with 70 cents per share a year ago.
Net sales for the company, which sells both its own brands and licensed toys, fell 3 percent to $108.5 million.
Toy sales were down 8 percent and North American sales fell 4 percent in the quarter, the company said in a statement.
Shares of the Montreal-based company closed at C$7.88 on Tuesday on the Toronto Stock Exchange.