We checked out confectionary and trading card manufacturer Topps (NASDAQ:TOPP) a quarter ago. The picture wasn't pretty then, and it isn't any prettier today. Following the release of yet another quarter of poor performance, shareholders have to be wondering when relief will come.

Fiscal 2006 fourth-quarter sales were down slightly from year-ago levels. The company saw weakness on multiple fronts, including sagging sales of WizKids and Topps sports products in Europe. In the conference call, management admitted that some of its new products have not met performance expectations. This seems to have been the same story for some time now. Is there any sign of a turnaround in sight?

To get a better grasp of the company's plans for 2007, we turn to the quarterly conference call. Even if you're not a shareholder, it's worth listening in on the Topps' conference calls just for the chance to hear grown adults throw around staple playground talk like Pokemon, Wacky Packs, Jugglers, and Bazooka. Aside from getting a refresher course on the latest candy shop terminology, you'll find that Topps' management is serious about its turnaround strategy.

You get the sense while listening to the executive management that they're positive about the company's future, especially when you hear words like "optimistic" being used more than once. Management believes the company is "building momentum" toward a solid 2007, when the greatest effects of its turnaround strategy will be seen in the second half of the year.

There are multiple layers to the company's plan, including greater emphasis on its entertainment division, increased accountability measures on all levels, tighter expense controls, and new product launches. Its entertainment unit, which includes sports trading cards, should do better by default, as the number of available manufacturing licenses for Major League baseball cards has been reduced from three to two. The net effect will allow the company to increase its current market share from 33% to 50% in this segment. An example of expressed optimism for its confectionary division came when management talked about a new "revolutionary" candy under the code name Vertigo. This top-secret lollipop-like product is expected to hit store shelves in January 2007.

Topps' management acknowledged that there is a "sense of urgency" to get the company pointed in the right direction again. Whether it can pull it off remains to be seen. For a stock that's essentially at the same level it was back in 1989, you won't find this Fool rushing out to buy its shares until there's hard candy evidence of positive performance.

Satisfy your sweet tooth with related Foolishness:

Fool contributor Jeremy MacNealy does not own shares of any companies mentioned.