Today, Spin Master Corp. entered into an underwriting agreement for its initial public offering of 12,225,000 subordinate voting shares at a price of C$18.00 per subordinate voting share for aggregate gross proceeds of C$220,050,000. Spin Master filed a supplemented post-receipt pricing prospectus dated July 22, 2015, in respect of the offering with the securities regulatory authorities in each of the provinces of Canada.
littleBits Electronics Inc. has landed $44.2 million in new funding to further its growth. The additional funding round was led by DFJ Growth, with additional participation from new investors Morgan Stanley Alternative Investment Partners, Grishin Robotics, and Wamda Capital, among others.
Toys “R” Us Inc. today reported financial results for the first quarter ended May 2. Net sales were $2,325 million, a decrease of $154 million compared to the prior year period. Excluding the $131 million negative impact of foreign currency translation, net sales declined $23 million, or .9 percent.
In its financial results for the year ended March 31, VTech Holdings Ltd. reported a decline in revenue and profit. Group revenue for the year ended March 31 declined by 1 percent to $1,879.8 million. The decrease was mainly due to lower revenue in North America, which offset higher revenue in Europe, Asia Pacific, and other regions.
This past Wednesday, Activision Blizzard Inc. reported better-than-expected financial results for the first quarter ended March 31. For the quarter, Activision Blizzard’s GAAP net revenues were $1.28 billion, as compared with $1.11 billion for the first quarter of the prior year. On a non-GAAP basis, the company’s net revenues were $703 million, as compared with $772 million for the first quarter of the previous year. For the first quarter, GAAP net revenues from digital channels were a record $581 million and represented a first-quarter record 45 percent of the company’s total revenues. On a non-GAAP basis, net revenues from digital channels were a first-quarter record $538 million and represented a record 76 percent of total revenues.
On Monday, the Walt Disney Company reported earnings of $2.1 billion for its second fiscal quarter ended March 28. Diluted earnings per share (EPS) increased 14 percent to $1.23 from $1.08 in the prior-year quarter, and excluding certain items affecting comparability, EPS for the quarter increased 11 percent to $1.23 from $1.11 in the prior-year quarter.