WWE loss impacts Jakks - ToyNews

WWE loss impacts Jakks

The loss of key product lines such as WWE sees Jakks forecasting cautiously in 2010.
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The firm's fourth-quarter profit beat expectations, but the outlook for 2010 was cautious.

The company posted a net loss of $1.9 million from a profit of $16.9 million for the same period a year earlier. Revenue fell 26 per cent to $198.8 million.

For the full year it lost $385.5 million from a profit of $76.1 million in the previous year. Revenue fell 11 per cent to $803.7 million.

Jakks forecast a loss in the range of 20 cents to 25 cents per share for the first quarter on sales of $70 million to $74 million. Analysts are forecasting a loss of 33 cents per share on sales of $96.6 million.

For the full year, the company expects a profit of $1.10 to $1.20 per share on sales of about $660 million to $670 million. Analysts expect a profit of $1.37 per share on sales of $798.3 million.

"We do not expect new additions to completely offset declines in revenues of our Hannah Montana product line and (declines) resulting from the end of our WWE licenses," said president, Stephen Berman.

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