Jakks Pacific pleased with Q3 results

"Our current momentum continues with margins steadily improving, product innovation across a strong portfolio of brands delivering higher profitability, and more efficient operations."
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Jakks Pacific has reported its financial results for the third quarter 2015.

Net sales for the quarter ending September 30th, 2015 were $337m, compared to $349.4m reported in the comparable period in 2014.

Reported net income for the third quarter was $45.8m. This compares to net income of $44.1m reported in the comparable period in 2014.

In the nine month overview, net sales for the nine months ending September 30th, 2015 were $582.3m compared to $556m in 2014. 

“We’re very pleased with our performance in the third quarter," said Jakks' chief executive officer and chairman of the board, Stephen Berman.

"Our current momentum continues with margins steadily improving, product innovation across a strong portfolio of brands delivering higher profitability, and more efficient operations. We remain focused on executing our full year plans across all brands this holiday season.

"Domestically, we are pleased with the strong consumer demand for Star Wars Big-Figs line of products and other several key drivers such as Sing-A-Long Elsa, XPV Remote Control Hulk Smash and Max Tow Truck Turbo which have already received numerous awards from retailers, industry experts and media.

"These key drivers in the portfolio have been featured on several hot toy lists including Walmart’s Chosen by Kids, Target’s Top Toys, Kmart’s Fab 15, Toys R Us, Time to Play Magazine’s Most Wanted and the Toy Insider Hot 20. JAKKS Pacific’s line of Frozen and Star Wars products drove much of the success in the international business.

“Looking ahead to 2016, we have a strong pipeline of products, and new licenses, creating a strong entertainment slate for us next year, and in the coming next few years. Building within the categories which we are leaders, coupled with expanded innovation, and hot new and current evergreen licences, we feel confident in the coming years ahead.

"We have just finished our Fall 2016 Toy Preview with customers from around the world, and we are also encouraged by the positive response now to both our Spring and Fall product lines."

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