A decision should be made by the second quarter of 2005 on whether Enesco will renew its license with Precious Moments, according to the company's quarterly report, filed May 10 with the Securities and Exchange Commission.
The license currently runs through Dec. 31, 2007, according to the report. "We anticipate no later than second quarter of 2005 that we and Precious Moments, Inc., will determine whether to terminate their license, renew the license on the same terms currently in effect, or negotiate different terms," the report said.
Enesco markets Precious Moments figurines, which have dropped drastically in sales during the past couple of years, including an additional two percent during the first quarter of 2005. That may have had a trickle-down effect on tourism at the Precious Moments Chapel in Carthage.