MEGA Brands has announced that net sales in the first quarter increased 14% to $58.2million compared to $51.0million in the corresponding 2011 period.
The toy and stationery manufacturer said that sales of Stationery and Activities products were up 26%, the fourth consecutive quarter of year-over-year growth in this segment.
On a geographical basis, sales were 21% higher in North America and 2% in international markets compared to the first quarter of 2011.
''Our first quarter results show good sales growth, particularly in North America, and our key profitability metrics have improved compared to last year,'' said Marc Bertrand, President and CEO. ''Our top priority for the rest of the year is to capitalize on the strong momentum we have built in our brands.''