Sequential Brands, which owns and licenses out Heelys, DVS and Revo, among other brands, has reported a financial turnaround for the fiscal year ended last Dec. 31. On a pro forma basis, it generated income of $4,173,000 from continuing operations, versus losses of $39,161,000 in the previous year. Revenues, which are represented mainly by royalties, went up by 28 percent to $25,363,000. Adding discontinued operations such as Heelys' former wholesale business, Sequential had a loss of more than $6.2 million last year.

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