JAKKS SEES MIXED RESULTS Q4 SOFTER; '05 SALES, EARNINGS HIT HIGH.Byline: Gregory J. Wilcox Staff Writer MALIBU - Jakks Pacific JAKKS Pacific, Inc. NASDAQ: JAKK is is a multi-brand company that designs and markets a broad range of toys and consumer products and is based in Malibu, California. Its product categories include action figures, art activity kits, stationery, writing instruments, performance Inc. on Tuesday reported weaker fourth quarter results versus a year ago but the toy designer and consumer products maker still posted record sales and earnings for 2005. During the final three months of 2005 the Malibu-based company said it earned $9 million, equal to 30 cents a share, down from $10.5 million, 35 cents, in the comparable period of 2004. Current fourth-quarter results include a one-time impact of a higher tax rate associated with dividends paid by Hong Kong Hong Kong (hŏng kŏng), Mandarin Xianggang, special administrative region of China, formerly a British crown colony (2005 est. pop. 6,899,000), land area 422 sq mi (1,092 sq km), adjacent to Guangdong prov. subsidiaries to the U.S.-based company. Absent this, earnings would have totaled $16.7 million, or 53 cents a share. Fourth-quarter sales were $166.3 million, down 10 percent from $184.8 million a year ago. Full-year net income totaled $63.5 million, or $2.07 per share, up from $43.6 million, or $1.49 per share for all of 2004. Excluding the tax impact, full-year net income would have been $71.2 million, or $2.30 a share. Sales for 2005 total $661.5 million, up 15.2 percent, from $574.3 a year earlier. Jack Friedman, the company's chairman and chief executive officer, during a conference call from the New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of Toy Fair credited the record year to brand management skills, acquisitions and diverse product line. ``The company enters 2006 with the most diversified product line in our history and we expect to again achieve record revenue and earnings in 2006,'' he said. The company has licensing rights for the entire Walt Disney Noun 1. Walt Disney - United States film maker who pioneered animated cartoons and created such characters as Mickey Mouse and Donald Duck; founded Disneyland (1901-1966) Disney, Walter Elias Disney Co. portfolio and has had sales success with its TV games consoles, adapting popular children's characters into video games See video game console. that plug directly into televisions. It also adapted that technology to make interactive books that appear on TV screens. Jakks also recently completed the acquisition of Creative Designs International, which makes a line of play toys like vacuums, dress-up outfits, glamour cases, tea and cookware sets, housekeeping sets, jewelry sets and other lifestyle toys for girls. ``We will immediately focus on expanding their distribution both in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. and internationally. CDI's license relationships include Disney and many other household names History Formation (1998-2000) Household Names have been together since 1998, with various members rotating throughout the line-up with singer, Jason Garcia, until it was solidified in the summer of 2000 with bassist/keyboardist, Chris Peters, and drummer, C. J. ,'' said Stephen Berman, Jakks president and chief operating officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. . Friedman said that this year the company expects to increase sales to approximately $825 million and boost net income to $82 million, or $2.63 a share. But the fourth-quarter softness will carry over into this year's first quarter with earning per share Noun 1. earning per share - the portion of a company's profit allocated to each outstanding share of common stock net income, net profit, profit, profits, earnings, lucre, net - the excess of revenues over outlays in a given period of time (including depreciation of 13 cents to 18 cents, under last's year's level. ``We anticipate more than making it up in the balance of the year with the initiatives we have in place and based on the response from the trade on our lines,'' Friedman said. Wall Street gave the company's report a tepid response. Shares closed Monday at $22.63, down $1.47 or 6.10 percent. Gregory J. Wilcox, (818) 713-3743 greg.wilcox(at)dailynews.com |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion