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Jakks Pacific swings to loss in Q4

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Jakks Pacific swings to loss in Q4

4910639 said its fourth-quarter normalized net income amounted to a loss of 30 cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 30 cents per share.

The per-share result swung to a loss from the prior-year profit of 7 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $5.6 million, compared with income of $3.2 million in the year-earlier period.

The normalized profit margin fell to negative 3.5% from 1.3% in the year-earlier period.

Total revenue declined 35.7% on an annual basis to $163.4 million from $254.0 million, and total operating expenses declined 30.6% year over year to $170.3 million from $245.5 million.

Reported net income came to a loss of $7.5 million, or a loss of 50 cents per share, compared to income of $4.7 million, or 6 cents per share, in the prior-year period.

For the year, the company's normalized net income totaled 30 cents per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 74 cents.

EPS declined from 31 cents in the prior year.

Normalized net income was $13.2 million, an increase from $12.8 million in the prior year.

Full-year total revenue fell 7.9% on an annual basis to $745.7 million from $810.1 million, and total operating expenses decreased 8.0% year over year to $715.2 million from $777.4 million.

The company said reported net income increased 6.2% on an annual basis to $30.6 million, or 71 cents per share, in the full year, from $28.9 million, or 70 cents per share.Jakks Pacific Inc.

4910639 said its fourth-quarter normalized net income amounted to a loss of 30 cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 30 cents per share.