Jakks up in Q3

Jakks Pacific has reported a rise in quarterly profit, helped by its acquisition of dress-up and role play specialist Creative Designs International.
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The firm reported third-quarter net income of $40.5 million, compared with $32.8 million for the same period a year earlier. Earnings were $43.6 million, compared with $33.5 million a year ago.

It also reiterated its 2006 forecast for sales of roughly $775 million, which compares with analysts' average expectation of sales of $741.5m.

The companies said the suit concerns allegedly improper sales of WWE video games in Japan and other countries in Asia, and seeks to terminate the video game license and monetary damages.

Jakks has been WWE's toy licensee since 1995, and the joint venture of Jakks and THQ obtained a video game license in 1998. But THQ and Jakks have been involved in an ongoing legal dispute with WWE over how certain licenses were secured.

THQ and Jakks said they believed the latest lawsuit was without merit.

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