Strong sales of Frozen and Max Tow Truck products helped Jakks Pacific post a net income of US$2.8 million for the fourth quarter, up from a net loss of US$16.1 million for the same period last year, and an overall return to profitability in 2014.
For the period ended December 31, 2014, the Malibu, California-based toyco generated US$254 million in net sales, compared to $137.7 million in the same period a year ago.
For the full year, net sales were US$810.1 million, a big jump from US$632.9 million in 2013. Net income for 2014 was US$21.5 million, compared to 2013′s net loss of US$53.9 million.
Jakks president and CEO Stephen Berman said in a company statement that while the toyco experienced logistical challenges related in part to port issues, and a difficult retail and consumer landscape, the year ended with a solid quarter.
Along with a strong performance for its Disney Frozen product line and its own Max Tow Truck range, the toyco logged higher sales for its Big Figures line (licensed large-scale figures) and its Nintendo figures and plush. Notably, Jakks’ Disney Frozen Snow Glow Elsa (pictured) was one of the top-selling toys in 2014.
As the toyco enters its 20th year in business, the company will be launching new products based on Disney’s live-action Cinderella, hitting theaters in March. Additionally, the company has other new Disney products set for release this year, including Disney Frozen Musical Box, a Sing Along Elsa Doll and a new Color of the Sea Ariel Doll.
On the global front, the company expects to see growth in its international biz, from expanded licensing rights in new markets and new offices in Mexico and in Asia, and the company’s new Jakks-Meisheng joint venture to commercialize products in China.