Jakks Pacific Inc. reported results for the company’s fourth quarter and full year ended December 31. Net sales for the fourth quarter were $254.0 million, compared to $137.7 million reported in the comparable period last year. Reported net income for the fourth quarter was $2.8 million, or $0.11 per diluted share. This compares to a net loss of $16.1 million, or $0.73 per diluted share, reported in the comparable period last year. Adjusted EBITDA for the fourth quarter increased to $10.6 million, compared with negative EBITDA of $6.0 million in the fourth quarter of last year. [Read more...]
Jakks Pacific Inc. has been granted the rights to manufacture, market, and distribute a line of consumer products based on the Minions from Universal Pictures and Illumination Entertainment’s Despicable Me franchise, as well as their upcoming film, Minions, which arrives in theaters in July. The licensing agreement, awarded by Universal Partnerships & Licensing, covers inflatable ball pits, wagons, arcade games, The Original Big Wheel, outdoor children’s furniture, and more. These products are expected to launch at North American retailers this spring.
“We are pleased to be a part of the phenomenally successful Despicable Me franchise, and the highly anticipated Minions film, by offering an array of products that feature popular characters from the films,” says Tara Hefter, vice president of licensing, Jakks Pacific Inc. “We are excited to bring a new line of products to these films’ fans.”
Disguise Inc., the Halloween costume division of Jakks Pacific Inc., has renewed its agreement with Disney Consumer Products to create, manufacture, and distribute Halloween costumes and accessories based on top Disney properties. Disguise will continue to build on its Disney costume portfolio with new additions including Big Hero 6, Frozen Fever, Descendants, and Disney Junior’s Miles from Tomorrowland. Costumes for Frozen, Doc McStuffins, Mickey Mouse Clubhouse, Monsters, Inc., and more will expand this year.
Disguise’s costumes are available in sizes ranging from infant to adult.
To date, the toy has won more than a dozen awards and topped holiday retailer lists. Snow Glow Elsa magically lights up and says 15 phrases from the film, Frozen. The doll also sings the hit song, “Let is Go,” in up to 25 languages depending on where she is purchased globally.
Today, the Toy Industry Association (TIA) announced the 83 finalists for the prestigious 2015 Toy of the Year Awards (TOTY). Between now and January 11, toy consumers of all ages can visit www.toyawards.org to vote for their favorite toys, games, and properties across 12 categories.
The 2015 finalists were selected from more than 600 nominees submitted for consideration by 159 companies. Sixty academics, journalists, toy trend experts, play therapists, toy inventors and designers, and toy retailers staffed the nomination committees that narrowed the field to the slate of finalists.
Votes from mass retailers, specialty toy retailers, media, TIA members, and consumers will be weighted and used to determine each of the 12 category winners. The winners—including the overall Toy of the Year and the People’s Choice awards—will be announced at the TOTY Awards ceremony held on February 13, 2015 as the kick-off to the 112th North American International Toy Fair. [Read more...]
Jakks Pacific Inc. and Meisheng Culture & Creative Corp. Ltd., a Chinese entertainment and cultural production industry group, have entered into a joint venture to provide Jakks licensed and non-licensed toys and consumer products to certain territories in China. The joint venture will include a subsidiary in the Shanghai Free Trade Zone, which is expected to sell, distribute, and market the products.
Jakks Pacific will provide dolls, plush, role play products, action figures, costumes, seasonal items, technology and app-enhanced toys, and more, based on its entertainment licenses and proprietary brands.
“Through our partnership with Meisheng, with their trusted name and strong foothold in the Chinese market, we are aiming to bring our diverse portfolio of toys and consumer products into the robust Chinese market to allow millions of families to enjoy our great brands and products,” said Stephen Berman, chief executive officer at Jakks Pacific.
In a statement, Xiaoqiang Zhao, the chairman of Meisheng Cultural & Creative Corp. Ltd., cited the joint venture with Jakks as advantageous to the development of the Chinese toy market.
Jakks Pacific Inc. reported results for the company’s third quarter ended September 30. Net sales for the third quarter increased to $349.4 million, up 12 percent from net sales of $310.9 million reported in the comparable period last year. Reported net income for the third quarter increased 16 percent to $44.1 million, or $1.03 per diluted share, compared to reported net income last year of $36.6 million, or $1.11 per diluted share.
Net sales for the nine months ending September 30 increased 12 percent to $556.0 million compared to $495.2 million last year. Reported net income for the nine-month period was $18.7 million, or $0.61 per diluted share. This compares to a net loss for the first nine months last year of $37.8 million, or $1.73 per diluted share. Strong sales of the Frozen Snow Glow Elsa doll and Light Up Musical Dresses, Disguise Halloween offerings, Nintendo plush and figure products, and licensed large-scale figures contributed to the company’s improved third quarter results.
Jakks Pacific Inc. has entered a long-term licensing agreement with Skechers USA Inc. to manufacture, distribute, and market a line of toys and products inspired by the Skechers and Twinkle Toes brands. The agreement encompasses multiple product categories, including collectibles, dress-up, and role play.
Jakks will launch a miWorld Skechers play set, allowing kids to build and design their very own Skechers mini replica store, and to play in ways that are authentic to the lifestyle footwear brand. The play set will be compatible with the miWorld Mall DreamPlay app, which brings the miWorld play sets to life on smartphone and tablet devices. [Read more...]