Jakks Pacific beat analysts’ expectations and enjoyed a profitable quarter thanks to strong sales of traditional role play and dress-up sets, the new Pokémon toy line and the continuing solid performance of its plug-and-play TV games and WWE action figures. In Q1 2007, net sales rose 15.7% to US$124.1 million, compared to US$107.2 million over the same period last year. Meanwhile, net income in the first quarter of 2006 rang in at US$2.3 million.
Top brass expects the growth to continue throughout the year with the introduction of new fashion dolls, dress-up and role-play products for Disney’s Hannah Montana and The Cheetah Girls, and a toy line celebrating the 25th anniversary of the Care Bears. All are expected to hit retail by the beginning of the summer. The company also reported working capital of US$284.1 million, including cash and equivalents of US$192 million.