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Jakks Pacific reports first quarter results

California-based toyco Jakks Pacific has announced its first quarter results for 2010, noting net sales for the first quarter at US$77.3 million, compared to US$108.7 million in the first quarter of 2009.
April 23, 2010

California-based toyco Jakks Pacific has announced its first quarter results for 2010, noting net sales for the first quarter at US$77.3 million, compared to US$108.7 million in the first quarter of 2009.

The Company reported a loss of US$5.2 million for the quarter, compared to a loss of US$10.8 million over the same period of time last year.

Revenues for 2010 are expected to come from a broad base of products, which include Halloween costumes, new Disney Princess, Disney Fairies, Toy Story and Phineas and Ferb product, UFC and TNA action figures and various non-licensed product lines.

The quarter’s results were positively impacted by a tax benefit of US$4.9 million related to the reversal of prior tax accruals. Jakks’ company-wide cost-saving initiatives and restructuring plan implemented over the past nine months continues to be its top priority.

About The Author
Wendy is Kidscreen’s Associate Editor. When she’s not sourcing material for the brand's daily email newsletter, she’s researching, writing and connecting with others about the newest trends in digital media. Contact Wendy at wgoldman@brunico.com.

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