Jakks Reports Solid Q3 Earnings

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After a weekend of uneasiness due to raging wildfires that threatened its Malibu headquarters, toy maker Jakks Pacific Inc. reported strong third-earnings Monday on lower expenses and stronger sales.


Jakks reported net income for the quarter of $47 million ($1.45 per share), a 17 percent hike from $41 million ($1.26) from the same period a year earlier. The earnings beat Wall Street’s expectations of $1.30 per share, according to a Thomson Financial poll.


Jakks reported third-quarter sales of $318 million, an 8 percent increase from the previous year, beating analysts’ expectation of $301 million. Jakks said that sales were boosted by strong holiday sales.


“We shipped many of our major holiday items during the third quarter, and are quite pleased with the distribution and retail sell-throughs we have been experiencing,” Jakks’ Chief Executive Jack Friedman said in a statement.


Shares in Jakks gained 1.3 percent to $26.89 in afternoon trading Monday on the Nasdaq.

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