Spin Master shares fall day after reporting lower earnings

“I think we’re all very shocked and disappointed with how long it’s taking for the industry to normalize itself,” chief operating officer Benoit Gadbois told a conference call with financial analysts Thursday.Spin Master shares were down $3.24 at $39.29 on the Toronto Stock Exchange in early afternoon trading.

It said the U.S. toy industry overall was down about seven per cent in the fourth quarter from a year earlier and two per cent for the year. The company said it is focused on expanding into markets overseas including Russia and China, while markets such as Mexico and Germany are increasingly important.

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