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ACTION PRODUCTS ISSUES LETTER TO SHAREHOLDERS
Letter Outlines Operational Improvements and Plans for Year Ahead
ORLANDO, Fla. (MARKET WIRE) March 17, 2008 Action Products International Inc. (NASDAQ-CM: APII), the global manufacturer and distributor of brand-focused educational toys and products, has issued the following letter from the companys Chairman and CEO Ron Kaplan:
Dear Fellow Shareholders:
With many recent company events we would like to take a moment to update you on our progress.
Operationally Action Products is currently in the midst of a turnaround. Management has launched several new corporate initiatives designed to re-brand the company as the toy industrys leading manufacturer of safe, fun, and educational products for children. This realignment of resources and capital is expected to have long-lasting effects on our ability to react expeditiously to consumer preferences and cultivate a culture tailored to our customers and shareholders. The following points highlight some key events from 2007 and our outlook for 2008:
Senior Management and Advisory Team
With the help of outside consultants, bringing expertise in operations, organizational analysis and development, we have strategically recruited both a new chief financial officer and a vice president of marketing and sales. These two additions have already reshaped our management team and will allow us to operate as a more cohesive unit focused on implementation of new operational efficiencies during 2008. It is my expectation that the reengineering of our management will be a cornerstone of operational growth initiatives.
In addition to the analysis and strengthening of our management team, we are expanding our sales force, to yield increases in our customer base, as our market focus widens to increase our distribution with specialty chains in the global marketplace. In the coming year, we expect to selectively add additional top-notch talent with the goal of increasing Actions distribution in our traditional U.S. markets and internationally. In addition, we are reinvigorating our brand marketing focus with a keen emphasis on consumer publicity, promotion, and meeting the increasing demands of a web-based marketplace.
High-Margin Sales Channels
We finished 2007 with our core retail dealers anticipating our new product lines. These dealers reported good holiday sales due in part to the medias coverage concerning the safety of toys sold by large box mass-marts. Review of the data has indicated that specialty retail stores, chains, and independents, have become stronger and more skilled at operations. This industry momentum supports our strategy of using high-margin branded products and will lead us to anticipated growth from our targeted distribution channels.
The following information was filed by Action Products International Inc (AHIX) on Tuesday, March 18, 2008 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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