Janex Reports Loss of $563,000 in 1st Quarter
Janex International Inc., a Woodland Hills-based toy manufacturer, reported a wider first-quarter loss despite a 14% rise in sales.
Janex posted a $563,000 loss in the quarter that ended March 31, compared to a loss of $392,833 in the same period a year earlier. Sales in the latest quarter rose to $894,306, up from $782,754 in last year’s first quarter.
The company also said that it has reached agreement with a lender who will provide a $900,000 revolving credit line.
As of March 31, Janex had cash and certificates of deposit of $762,051, compared to $1.29 million a year ago.
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