Jakks Pacific Q3 sales drop
Malibu, California-based toy maker Jakks Pacific reported a drop in net sales during the third quarter of 2012.
Revenues came in at US$314.5 million, compared to US$332.4 million for the same period in 2011, and net sales for the nine months ending September 30, 2012 were US$533.3 million versus US$536.7 million in 2011.
Net income also fell to US$30.4 million compared to US$34.8 million in the comparable period in 2011.
Despite the losses, Jakks’ president and CEO Stephen Berman attributes better than expected Q3 growth internationally with its Monsuno toy line and strong performances from the company’s Winx Club, Disney Princess and Disguise Halloween product lines.
Berman also expresses optimism that Jakks’ recently announced JV with tech company NantWorks and the 2013 launch of new DreamPlay interactive toy products will help boost Jakks’ position as a technology leader.
Jakks’ current portfolio includes action figures, electronics, dolls, role play, Halloween costumes, plush and construction toys sold under various proprietary brands and trademarks including Maui Toys, Hello Kitty and Pokémon.