Action Products International Inc. , a leading toy designer and manufacturer of educational and positive, non-violent branded toys for children in preschool through primary grades, announced today that on Oct 6, 2003, sales for the year surpassed sales for all of 2002. Lead by a break out in sales for JAY JAY THE JET PLANE WOODEN ADVENTURE SYSTEM(TM) coupled with support from the company's other branded lines, the management of Action Products International Inc. now expects the company to establish a new all time sales record by year end. The previous record was in 2001 when sales reached $8,171,600. In 2002, the sales slipped to $6,429, 300. Accordingly, the sales projections are being raised to $8.2 - $8.3 million for the year ending December 31, 2003. Action Products International, Inc. preliminary total sales guidance for 2004 is currently in the $10.0 to $10.5 million range will be reviewed in early November.
"The quality of our sales is much higher than in 2001. Our sales representatives are more focused on our branded lines and we are continuing to have a high degree of shipping on time against orders. We just received our first orders in the hospital gift shop market, the educational market continues to grow and our products will be appearing in over 7,000,000 holiday specialty mail order catalogs. Additionally, our retailers are reporting that our brands are selling through at record levels and many have significantly increased their Q4 orders -- in some cases doubling their current orders," said Bill Bordegon, Vice President of Sales and Marketing. "We are preparing for 2004 which we see as another break out year. Our products are 'evergreen' and not subject to fads. We are already getting orders for delivery in the new year including a significant size opening order from a big name attraction. The new specialty markets we are opening appear to be very promising."
"Our increasing revenue, current profitability, growing dealer network, and strong balance sheet, all reflect a strong turnaround from the conditions we faced at this time last year," notes Ronald Kaplan, Action Products' President/CEO. "We are proud and appreciative of the acceptance of our brands by consumers and our retail partners. I am especially proud of our dedicated team of retail dealers, sales representatives and internal team members. In addition, we are pleased to be joined by notable specialty and educational toy companies, such as International Playthings and Leap Frog, Columbia TriStar for DVD and Video and Penguin Putnam for Books in our mutual efforts to grow consumer brand equity in the still fledgling Jay Jay The Jet Plane brand. These developments will serve to build even greater consumer acceptance of this exciting new property which bodes well for our segment (the specialty toy industry) potentially marking an era of renewed growth and prosperity for specialty toy retailers."
250,867 public warrants and 60,000 privately placed warrants have been exercised as of Oct 10, 2003. 3,272.092 warrants were issued to all the shareholders.
ABOUT ACTION PRODUCTS INTERNATIONAL
Action Products International, Inc. is a leading designer and manufacturer of educational and positive branded toys emphasizing fun, quality brands including Jay Jay The Jet Plane Wooden Adventure System(TM), I Dig Dinosaurs(R) and I Dig Treasures(R) excavation activity kits, Space Voyagers(R) ("The most authentic Space Toys on Earth"), Climb@Tron(TM) window-climbing animals and robots, Play and Store(TM) themed playsets, Kidz Workshop(TM) wooden projects, and Drop Zone Extreme(TM) parachute toys. Its products are marketed and sold to specialty retailers, museums, toy stores, theme parks, attractions, zoos, catalog companies, Internet retailers, and educational markets in the United States and worldwide.
For more information on Action Products toys, email marketing@apii.com
Any statements that are not historical facts contained in this release are forward-looking statements. It is possible that the assumptions made by management for purposes of such statements may not materialize. Actual results may differ materially from those projected or implied in any forward-looking statements. Such statements may involve risks and uncertainties, including but not limited to those relating to product demand, pricing, market acceptance, the effect of economic conditions, and intellectual property rights and the outcome of competitive products, risks in product development, the results of financing efforts, the ability to complete transactions, and other factors discussed from time to time in the Company's Securities and Exchange Commission filings. The Company undertakes no obligation to update or revise any forward-looking statement for events or circumstances after the date on which such statement is made.
CONTACT: Warren Kaplan, Chairperson, or Ray Oliver, Investor Relations, both of Action Products, +1-407-481-8007 Ext 723, investor@apii.com
Web site: http://www.apii.com/
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