The Topps Company has reported its financial results for the quarter ending August 26th, which saw net sales increase 9.9% to $82.3 million compared with the same period a year ago.  Confectionery sales dropped 5.8% for $42.2 million to $39.7 million, and the Non-Sports Entertainment segment, which includes WizKids, declined from $12.8 million to $8.4 million, but the Sports Card segment soared from $19.9 million to $34.1 million offsetting declines in both the Confectionery and Non-Sports categories.

Topps' net income from operations was $4.3 million versus $3.4 million in the same quarter last year, but a $1.131 million charge for severance costs and a $941,000 charge for costs associated with a proxy contest (see 'Topps Reaches Settlement With Hedgers') brought the net income for the quarter to $3.4 million vs. net income of $4.8 million a year ago, when income was boosted by a one-time reversal of income tax reserves equal to approximately $1.6 million.

Topps has financial reserves of some $85.2 million in cash and marketable securities and no debt.