CloudPets becomes revenue engine in Spiral Toys Inc (OTCBB:STOY)’s 3Q:
Spiral Toys Inc (OTCBB:STOY) is crediting the sharp revenue spike in its 3Q2015 on robust sales of its flagship luxury connected toy called CloudPets. The product launched in 2Q2015 and has continued to see strong demand, pushing 3Q revenue sharply up to $4.3 million. Spiral Toys posted revenue of $1.5 million in 2Q2015 and $98,000 in 3Q2014.
According to the management of Spiral Toys Inc (OTCBB:STOY), CloudPets could only be a curtain raiser for more robust sales in the future. The company is working to launch three more products next year as it transitions from development stage position. With the success already seen with CloudPets, the management is hoping to apply the lessons learned in the launch of CloudPets in the introduction of the coming three products next year.
The combination of strong sales and disciplined cost management is expected to boost bottom-line at Spiral Toys Inc (OTCBB:STOY). Gross margins in 3Q improved to 16% from 11.9% in the previous quarter.
International Game Technology PLC (NYSE:IGT)’s 3Q revenue jump 30%:
International Game Technology PLC (NYSE:IGT) is another entertainer whose 3Q revenue improved significantly compared to the same period a year ago. The company reported 3Q2015 revenue of more than $1.2 billion, reflecting 30% increase from 3Q2014. However, revenue in the latest quarter was nearly flat from the previous quarter.
The management of International Game Technology PLC (NYSE:IGT) restated commitment to continue driving revenue growth through innovation.
Gaming Partners International Corp. (NASDAQ:GPIC)’s revenues spike 50% in 3Q:
Table game equipment supplier Gaming Partners International Corp. (NASDAQ:GPIC) ended its 3Q2015 on a positive note as revenue jumped a massive 49.8% YoY to $20.25 million.
The impact of Gaming Partners International Corp. (NASDAQ:GPIC)’s sharp spike in topline numbers was also felt on the bottom-line were EPS came in at $0.35 in the quarter.