Subject:
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Lego Financials
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Newsgroups:
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lugnet.robotics
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Date:
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Sat, 23 Jan 1999 03:57:22 GMT
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Original-From:
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Steve Metter <smetter@dayton*spamcake*.net>
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Viewed:
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1203 times
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Fri Jan 22 Wall Street Journal, page B1, contains a story saying Lego plans
to report a loss for 1998 for the first time in its history - 1996 profit
$73mil, 1997 profit $9.6mil, 1998 profit negative $31mil on estimated sales
of $1.3bil. Article goes on to say Lego plans to lay off 10% of its 10,000
work force in the next few months.
Lego leadership blames situation on duplicate business processes and lack of
control over costs, plus economic situation in Asia, Russia and Latin
America. Lego also faces increased competition from video games and other
makers of building toys.
The article mentions Mindstorms, and the fact that Lego planned to sell
12,000 in the U.S. last year and far exceeded that.
It's a good article - sorry if this is off-topic, but I felt like telling
someone.
--
Did you check the web site first?: http://www.crynwr.com/lego-robotics
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