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Jakks Pacific Q2 loss narrows YOY

Jakks Pacific Inc. said its normalized net income for the second quarter came to a loss of 14 cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 35 cents per share.

The per-share loss decreased 37.8% year over year from 23 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $2.7 million, compared with a loss of $4.9 million in the prior-year period.

The normalized profit margin climbed to negative 2.1% from negative 3.9% in the year-earlier period.

Total revenue increased 5.6% year over year to $131.1 million from $124.2 million, and total operating expenses increased on an annual basis to $134.1 million from $129.0 million.

Reported net income totaled a loss of $5.7 million, or a loss of 30 cents per share, compared to a loss of $9.1 million, or a loss of 43 cents per share, in the prior-year period.