WWE loss impacts Jakks

The loss of key product lines such as WWE sees Jakks forecasting cautiously in 2010.
Author:
Publish date:
5_184_3541_Jakks logo.jpg

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.

Related

Featured Jobs

GAMEPLAN LOGO 3D hi res

Marketing Director UK

Gameplan I Southeast of England I Salary: Competitive I Date Published Monday 7th January 2019

Rainbow logo landscape_home of classic Final

Product Manager

Rainbow Designs Ltd I Olympia, London I Salary: Competitive I Date Published Wednesday 16th January 2019