TONKA &lt;TKA> SEES LOWER FISCAL FIRST QUARTER NET

  Tonka Corp said it expects
  results for its fiscal first quarter to end April four, to
  decline from the record earnings of 3.8 mln dlrs or 57 cts a
  share and revenues of 53.2 mln dlrs.
      The toy manufacturer attributed its anticipated lower
  financial results to an an expected moderate decline in
  shipments of its Pound Puppies product line.
      Tonka also said it expects revenues and earnings to remain
  lower through the 1987 first half compared with 1986 record
  results of 125.4 mln dlrs in revenues and 10.3 mln dlrs in net
  earnings or 1.47 dlrs a share.
      The company said its level of shipments is good despite a
  conservative buying pattern on the part of retailers industry
  wide. Tonka's first quarter shipments will be down somewhat
  from 1986 record levels and gross profit margins will be down
  slightly from a year ago, it said.
      Second half sales are expected to be stronger based on a
  return to a more traditional seasonal shipping pattern in which
  retailers order and stock conservatively early in the year and
  time large shipments for the second half, it said.
      Tonka said that while the pace of order writing is trailing
  last year's, bookings are "very good" for orders on several of
  its new product introductions for 1987.
  

