[Old Crow]

It looks to me like Corgi had better figure out how to turn a profit first. If you dig a little deeper you will see Corgi has not been enjoying a healthy bottom line for some time. Take a look at their income statement figures:


03/2002 Sales (Millions): 120.69; Net Income (Millions): -8.43
03/2003 Sales (Millions): 120.85; Net Income (Millions): 2.56
03/2004 Sales (Millions): 95.82 Net Income (Millions): -5.31
03/2005 Sales (Millions): 43.21 Net Income (Millions): -7.10
03/2006 Sales (Millions): 76.39 Net Income (Millions): -35.35


http://www.nasdaq.com/asp/quotes_rep...&selected=CRGI

No wonder Corgi's Board approved the [i]merger[i] with Master Replicas (not a sale, one way or the other). However, the new CEO and CFO are each from Master Replicas, which probably can't hurt. Looks like there is reason for optimism since it appears the new company (of which Corgi Classics will be one of 3 divisions) has a lot of valuable licenses, and it is expected the new company will generate more sales as a single company than the 3 companies who merged would have had they remained separate entities:

Corgi International Limited (Nasdaq GM: CRGID) today announced that the merger with Master Replicas Inc. has closed. Michael Cookson and Jennifer Klatt of Master Replicas Inc. have been named CEO and CFO, respectively, of Corgi.

Cookson commented, "The new Corgi combines three high quality brand names (Corgi Classics, Master Replicas, and Cards Inc.) into a single entity that expands the depth of its licenses, its collectible categories and its range of products."

The new Corgi now holds licenses for many of the highest grossing film franchises of all time including Batman, Disney Classics, Harry Potter, James Bond, Lord of the Rings, Pirates of the Caribbean, Star Trek, Star Wars, Superman, and others.

The company will be developing unique, collectible products under three brands. New products will begin arriving at retail in the spring of 2007 for Harry Potter, Pirates of the Caribbean, Star Wars 30th Anniversary, and Transformers and in the fall of 2007, for The Golden Compass.

Corgi Classics will focus on collectible die cast vehicles and figurines, Master Replicas will continue to develop and produce movie prop replicas and high end collectibles, and a third brand will develop licensed products for the gift and toy channels.

For more information, please visit www.Corgi-International.com, www.MasterReplicas.com and www.CardsInc.com.

http://www.nasdaq.com//aspxcontent/newsstory.aspx?selected=CRGI&symbol=CRGI&textpath=20061226%5CACQBIZ200612261739BIZWIRE%5FUS PR%5F%5F%5F%5F%5FBW5251%2Ehtm&cdtime=12%2F26%2F2006+5%3A39PM

For the 12 month period ending March 31, 2008, Corgi expects revenues to range from $110 million to $115 million, which represents more than a 20 percent increase when compared with the combined revenues of the three predecessor companies during the prior year.

http://www.nasdaq.com//aspxcontent/newsstory.aspx?selected=CRGI&symbol=CRGI&textpath=20070109%5CACQBIZ200701092204BIZWIRE%5FUS PR%5F%5F%5F%5F%5FBW6385%2Ehtm&cdtime=01%2F09%2F2007+10%3A04PM

[LzyBns]

Wow, maybe things could be looking up for the pooch. I wonder if not being to be able to get replies from Corgi US has anything to do with the changes. I always end up going to Nona in the UK.