Don't despair, everyone - there are at least two toy companies who have found a way to weather the CPSIA storm. Yes, both tiny Mattel and minuscule Hasbro were able to eek out a nice profit jump this quarter. Mattel reported earnings of $24.8 million in the first quarter, instead of a $51 million loss last year, and Hasbro had to make due with earnings of $58.9 million this quarter, up over winnings of $19.7 million in the same quarter last year.
The CPSIA is obviously crushing these companies. They are so brave!
Don't worry though - Waxman has a few morsels for us small fry, too. To ease the burden on us, his new amendment authorizes the CPSC to make special testing rules for us, provided (it's complicated) our revenue is under $500,000 per year. Oh goodie! Unfortunately, if we happen to be bigger than that, we face the exact same rules as Mattel (revenue of $880.1 million in the last QUARTER) and Hasbro (sales of $672.4 million in the last quarter).
That seems fair to me. Really fair . . . .
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