November 2, 2011 / 11:45 AM / 6 years ago

CORRECTED(OFFICIAL)-UPDATE 1-Mega Brands Q3 profit dips

(Fixes year-ago net income in paragraph 2 after the company issued a corrected press release)

Nov 2 (Reuters) - Mega Brands posted a marginal dip in third-quarter profit, partly on higher costs, but the Canadian toy-maker said it expected signs of recovery across all its segments ahead of the crucial holiday season.

The Montreal-based company earned $17.1 million, or 51 cents a share, compared with $17.2 million, or 36 cents a share, a year ago.

Net sales for the company, which sells both its own brands and licensed toys, rose 4 percent to $133.3 million. Toy sales were up 4 percent.

Shares of the company closed at C$8.50 on Tuesday on the Toronto Stock Exchange. (Reporting by Ankur Banerjee in Bangalore; Editing by Maju Samuel)

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