Genius Brands sees Q2 revenues soar

Baby Genius firm enjoys increase of 96 per cent for the period.
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Genius Brands International - the company behind the successful Baby Genius line - has reported solid results for its second quarter, ending June 30th.

The firm saw Q2 revenues increase by 96 per cent to $1,641,798. For the six months ending June 30th, meanwhile, revenues climbed by 25 per cent to $2,672,745.

Q2 2012 net loss narrowed by 24 per cent to $583,247).

Revenue growth was attributed to an increase in product sales and the company's sales of third party licensed items through Genius Brands' distribution network.

"We are pleased with the revenue growth we've experienced in the second quarter despite the fact that our royalty revenues were low, compared to historic levels," said Klaus Moeller, chairman and CEO at Genius Brands. "As our Baby Genius branded line of music and early learning toys from our new worldwide master toy licensee Jakks Pacific are now starting to be available on retail shelves, we expect to begin to realise royalty revenues from this toy line in the third and fourth quarters of this year."

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