Market-Leading Products, Strong Execution Lead to 15% Growth
ALEXANDRIA, VA, February 16, 2005 – ThinkFun™, Inc., the leading maker of mind challenging games, today announced record revenue and profit for fiscal year 2004, ending December 31, 2004.
Revenue for the year increased by more than 15% compared to the previous year, while year-over-year profit more than doubled. These results follow and build upon the growth ThinkFun experienced in 2003, which also saw double digit increases versus the prior year, 2002. The strong results are attributed to the launch and development of several new products in 2004 and continued execution of the strategic business plan adopted in the middle of 2003, which resulted in the company name change from Binary Arts to ThinkFun as well as several other strategic initiatives.
“We are pleased with our business results for 2004 and look forward to continued growth in 2005,” said ThinkFun Chief Operating Officer Ralph Cuomo. “Despite the fact the toy and game industry has seen no growth over the last few years, we have achieved our business plan because our focus on mind challenging games has resonated well with consumers and our investment in our retail partnerships is paying off.”
Highlights for 2004 Include:
- Worldwide shipments of Rush Hour exceeded 500,000 units
- Introduced several new products and expanded into Children’s Games (Ages 4-8)
- Developed strategic partnership with Barnes & Noble
- Invested in improved merchandising with ThinkFun Centers
- Created first ever brand advertising campaign
- Won 16 industry awards
- Improved operations and installed new management information system
ThinkFun, Inc., located in Alexandria, VA, is the leading creator of mind challenging games. Since 1985, the company has produced award winning games such as Rush Hour®, River Crossing®, and Aha! Brainteaser Classics™. Kids and adults alike look to ThinkFun to create hands-on, thought-provoking games that provide hours of fun-filled challenges. ThinkFun is committed to high-quality, innovative games that help people of all ages develop thinking skills through play. To learn more, please visit www.ThinkFun.com .