COLECO INDUSTRIES <CLC> SEES PROFIT IN 1987
Coleco Industries Inc said
it expects to return to profitability in 1987.
    Earlier, Coleco reported a net loss of 111.2 mln dlrs for
the year ended December 31 compared to a profit of 64.2 mln
dlrs in the year earlier.
    In a prepared statement, the company said the dramatic
swing in operating results was due primarily to the steep
decline in sales of Cabbage Patch Kids products from 600 mln
dlrs to 230 mln dlrs.
    Coleco said it changed from a single product company to a
more diversified organization through four major acquisitions
last year.
    Products from the new acquisitions and other new product
introductions are expected to enable it to return to
profitability, it said.
    At the annual Toy Fair earlier this month, vice president
Morton Handel said analysts' 1987 projected earnings of 90 cts
a share on sales of 600 mln dlrs are reasonable.
   
 Reuter
