Jakks reports healthy 2007

Firm forecasts net sales and net income to increase by at least four per cent this year.
Publish date:
Social count:

Jakks has increased its fourth quarter net income by 48.3 per cent to $34.4 million and its net sales by almost 20 per cent to $285.1 million.

The firm also increased its net income for the year by almost 25 per cent to $90 million, compared with earnings of $72.4 million fro 2006, and its net sales by 12 per cent to $857 million, from $765.4 million in the fourth quarter of 2006.

Its fourth quarter was more “robust” driven by strong sales of Disney products, action figures, Plug It In & Play electronic game items and its video game joint venture, according to Jack Friedman, chairman and CEO.

Friedman said: “We continue to see strong sell-through in the first quarter of 2008, that we believe is due to a combination of gift card purchases and the popularity of the Disney tween pop star Hannah Montana.”

Stephen Berman, president and COO added: “We are very pleased with our performance in 2007, and have strong momentum in our top licensed and non-licensed brands, which we believe will continue to drive our business this year.”

Jakks says it will continue to evaluate potential acquisition opportunities as well as creating new products and securing licenses to continue its growth.

In addition, the Board of Directors has authorised a stock buy-back programme of up to $30 million of the firm’s common stock.

Friedman said: “We are confident about our prospects for 2008 and believe we will get through some uncertainties related to cost increases and production issues that are affecting our industry and others who manufacture in China. We are forecasting net sales and net income to each increase a minimum of 4 per cent in 2008.”


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.