Jakks Pacific Inc. shares took a hit Wednesday after the toymaker reported its first-quarter profit plunged because of increased legal, product testing and restructuring costs.

Jakks reported net income of $877,000 (3 cents per share), a 73 percent decrease from $3.2 million (12 cents) in the same period a year earlier missing Wall Street’s expectations of 19 cents per share, according to Thomson Financial.

Sales for the Malibu-based toymaker rose 5.5 percent to $131 million thanks to sales of Hannah Montana toys and its popular Plug It In & Play electronic products. However, sales also missed analysts’ predictions of $138 million.

The company said profits were stung by $2.6 million in litigation costs as well as a four-fold increase in product-testing costs which were $800,000. Jakks also reported $200,000 in restructuring charges for the quarter.

Shares in Jakks were down 8.8 percent to $25.03 in early trading Wednesday.