Jakks increases sales by $20 million

Firm expects to achieve yearly net sales target of $800 million after strong Q3 performance
Author:
Publish date:
Social count:
0
5_Pocoyo.jpg

Jakks Pacific has reported its financial results for the third quarter and first nine months ending September 30, 2007.

Q3 net sales increased from $296 million to $318 million while net income for the firm increased from $40.5 million to $47.3 million.

Net sales for the nine months were $572 million compared to $527 million for the same period in 2006 while net income also improved from $49.2 million in 2006 to $55.6 million for 2007.

Jack Friedman, chairman and CEO of Jakks said the firm is confident with its product lines on offer for this Christmas including its Hannah Montana range, WWE and Pokemon items along with Disney Princess role play toys and EyeClops.

"We remain confident that Jakks Pacific will achieve at least its previously announced 2007 full-year guidance of $800 million in net sales and net income of $75.8 million, or $2.39 per diluted share. Our financial position remains very strong and, as of September 30, 2007, Jakks had approximately $342.2 million in working capital, including $186.6 million cash and equivalents,” Friedman said.

Related

Featured Jobs

Vivid Job Logo 620 x 349

Digital Marketing Executive - Toys & Games

Vivid is Britain’s biggest toy company and the 20 largest in the world. With offices across the globe, they sell an amazing portfolio of toys and games to over 60 countries. Vivid is best known for its association with blockbuster brands and is very excited about future opportunities around the world.

Liberty

UK Sales Agents

Liberty House Toys have been appointed as the exclusive UK distributor for the BiOBUDDi brand, and we are pleased to introduce this new unique, innovative and exciting range of 100% environmentally-friendly toy building blocks. We are seeking experienced sales agents with existing network in the toy retail market.

Gameplan Job Logo 620 x 349

Head of Product Development & Marketing

Our client is a privately owned French toy and games manufacturer which sells through distributors in forty countries. The company develops and sells innovative electronic interactive toys and games for the educational and gaming markets, and also takes suitable licenses. To progress its successful business development a Head of Product Development & Marketing is to to recruited.

HIT Entertainment Job Logo 620 x 349

Licensing Systems Administrator

The Contract System Coordinator is a newly created role to support the deal term entry process into Mattel’s new Contract Management System for its Licensing business. The role will support the Business Teams at the Deal & Amendment phase of the contracting process and act in conjunction with the System Administration team.