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Jakks Pacific Q1 loss narrows YOY

Jakks Pacific Inc. said its first-quarter normalized net income came to a loss of 23 cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 46 cents per share.

The per-share loss narrowed 50.9% year over year from 48 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $4.5 million, compared with a loss of $10.5 million in the year-earlier period.

The normalized profit margin climbed to negative 3.9% from negative 12.7% in the year-earlier period.

Total revenue climbed 38.4% on an annual basis to $114.2 million from $82.5 million, and total operating expenses rose 21.5% from the prior-year period to $118.4 million from $97.4 million.

Reported net income came to a loss of $7.6 million, or a loss of 40 cents per share, compared to a loss of $16.3 million, or a loss of 74 cents per share, in the year-earlier period.