Jakks narrows losses in first quarter

Firm makes a loss of $5.2 million in the first quarter, compared to $10.8 million in Q1 2009.
Publish date:
Social count:
65_Jakks Logo 300.jpg

Net sales for the quarter ended March 31st, were $77.3 million, compared to $108.7 million year-on-year.

Stephen Berman, CEO and president commented: "The first quarter finished slightly ahead of our expectations adn we believe we are on track to meet our earnings guidance for this year of £1.10 to $1.20 per share on net sales of $660 to $670 million.

"The strategic cost saving initiatives and restructuring plan we implemented company-wide over the past nine-months continue to be a top priority."

Jakks is hoping its product portfolio for the second half will help to continue its upward swing. The new products include ranges based on Disney Princess, Disney Fairies, Toy Story and Phineas and Ferb characters and action figures based on UFC and TNA along with various generic offerings.

Joel Bennett, executive vice president and CFO added: "We expect to use our cash to continue to execute on our acquisition and internal product development strategies adn also to handle the remaining outstanding $10.3 million of our 4.625 oer cent convertible senior mnotes, which, if offered, the company would be required to redeem and which we could also elect to repurchase in June 2010."


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.


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.