Big 4th Quarter For Jakks

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Jakks Pacific Inc. said Monday that its profit more than doubled for the fourth quarter but cautioned investors not expect the same this year.


Jakks reported fourth-quarter net income of $23.2 million (73 cents per share), a 158 percent leap from $9 million (30 cents) for the same period a year earlier. Analysts had predicted earnings of 67 cents per share, according to Thompson Financial.


Sales for the Malibu-based children’s toymaker also spiked 43 percent to $238 million.


The company also said that it expects first-quarter sales to continue to climb, coming in between $114 million to $120 million, with profit ranging from 7 cents to 10 cents per share, but warned of a possible decrease in year-over-year profits.


“The fourth quarter successfully concluded a record year of strong sales and earnings growth,” Jack Friedman, Jakks’ chief executive, said. “We had robust sales in several of our traditional toy segments, including dress-up and role play items, action figures and dolls based on classic brands.”


Shares of Jakks were up 13 percent ($2.91) to $24.44 in afternoon trading Monday.

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