March 4, 2020 / 10:48 PM / a month ago

BRIEF-Spin Master Corp Says Covid-19 Is Expected To Affect Q2 Shipments In Particular

March 4 (Reuters) - Spin Master Corp:

* SPIN MASTER REPORTS Q4 AND FULL YEAR 2019 FINANCIAL RESULTS

* Q4 LOSS PER SHARE $0.17

* Q4 EARNINGS PER SHARE VIEW $-0.12, REVENUE VIEW $481.6 MILLION — REFINITIV IBES DATA

* EXPECTS 2020 GROSS PRODUCT SALES TO DECLINE IN MID-SINGLE DIGIT RANGE RELATIVE TO 2019, EXCLUDING ANY DISRUPTIONS FROM COVID-19

* CO WAS UNABLE TO FULLY OFFSET YEAR OVER YEAR DECLINE IN HATCHIMALS SALES

* SPIN MASTER - EXPECT COVID-19 TO REDUCE 2020 GROSS PRODUCT SALES, RESULTING IN DECLINE TOWARD HIGHER END OF MID-SINGLE DIGIT RANGE

* COVID-19 IS EXPECTED TO AFFECT Q2 SHIPMENTS IN PARTICULAR

* SEASONALITY OF GROSS PRODUCT SALES FOR 2020 IS EXPECTED TO BE APPROXIMATELY 30-32% IN H1 AND 68-70% IN H2

* ON A FULL YEAR COMPARATIVE BASIS, COMPANY EXPECTS TO DELIVER ADJUSTED EBITDA MARGIN IN LINE WITH 2019

* SPIN MASTER - ANTICIPATED THAT EVOLVING CONDITIONS DUE TO COVID-19 WILL HAVE IMPACT ON GLOBAL OPERATIONS Source text for Eikon: Further company coverage:

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