Jakks Pacific Extends Licensing Agreement for Power Rangers

jakks_powerrangers-1Jakks Pacific Inc. extended its licensing agreement with Saban Brands LLC for Power Rangers, which includes the TV series Power Rangers Ninja Steel and the live action films, including this year’s feature film, Saban’s Power Rangers.

The multi-year agreement includes rights to exclusively manufacture, market, and distribute adult and kids Halloween costumes, accessories, and everyday dress up in the U.S., Canada, and Latin America. The partnership also includes seasonal items such as ride-ons, ball pits, indoor furniture, and other seasonal categories in the U.S. and Canada.

Jakks Pacific Launches Jakks Care Package

JakksCarePackageJakks Pacific Inc. launched the Jakks Care Package on Amazon.com, a gift for kids created to help them alleviate feelings of homesickness. Originally curated with hospitalized kids in mind, the Jakks Care Package includes items to help kids cope from being away from home such as a road trip, weekend away, summer camp stay, or a slumber party.  [Read more...]

Jakks Pacific Reports Q2 2017 Financial Results

Jakks Pacific Resized LogoJakks Pacific reported financial results for the second quarter ended June 30, 2017.  [Read more...]

Jakks Pacific Signs Exclusive Licensing Deal With Chicco

Jakks Pacific Resized LogoJakks Pacific Inc. signed a multi-year licensing agreement with Chicco for the rights to exclusively manufacture, market, and distribute early childhood dolls, doll carriers, doll outfits, and doll accessories inspired by Chicco for the U.S. and Canada.

Jakks Retires $12.0 Million of Company’s 2018 Convertible Senior Notes

Jakks Pacific Resized LogoJakks Pacific Inc. agreed with holders of its Convertible Senior Notes due in 2018 to redeem $12.0 million face amount of such notes for approximately $11.4 million in cash and 112,400 shares of its common stock. After such redemption the balance of the face amount of the 2018 Notes will have been reduced to approximately $42.7 million from approximately $54.7 million.

Jakks Pacific Appointed as Master Toy Licensee for Mega Man

jakks_megamanDHX Brands and Dentsu Entertainment USA appointed Jakks Pacific Inc. as worldwide master toy licensee—excluding Asia—for their co-produced animated series Mega Man. The deal brokered by CPLG North America.

The multi-year license agreement allows Jakks to exclusively manufacture, market, and distribute a range of consumer products, including action figures, figurines, play sets, accessories, dress-up and role-play, Halloween costumes, plush, and vehicles. [Read more...]

Jakks Pacific Reports Q1 Financial Results

Jakks Pacific Resized LogoJakks Pacific Inc. today reported financial results for the first quarter ended March 31, 2017. Highlights include net sales of $94.5 million; gross margin in line with expectations at 31.8 percent; inventory levels down from year-end as anticipated to $67.5 million; and adjusted EBITDA down modestly year over year to negative $10.6 million.   [Read more...]

Jakks Pacific Sells $19.3 Million of Common Stock to Hong Kong Meisheng Culture Co. Ltd.

jakks_logo_new copyJakks Pacific Inc. entered into an agreement with Hong Kong Meisheng Culture Co. Ltd. to sell 3,660,891 million shares of the company’s common stock to Meisheng for a total purchase price of $19.3 million. The transaction is subject to approval by the shareholders of Meisheng’s parent company and regulatory filings in China by Meisheng. [Read more...]

Jakks Pacific Renews Licensing Agreement with DCPI in China

jakks_logo_new copyJakks Pacific Inc. renewed its multi-year licensing agreement with Disney Consumer Products and Interactive Media (DCPI) in China for merchandise rights for more than 50 entertainment properties. [Read more...]

Jakks Pacific Reports Q4 Financial Results

jakks_logo_new copyJakks Pacific reported financial results for the fourth quarter 2016, which ended Dec. 31, 2016.

Net sales for the fourth quarter were $167.0 million compared to $163.4 million in the fourth quarter 2015, ahead of the company’s latest guidance. As disclosed in mid-December, a number of key licensed products were performing well below prior expectations for the quarter, more than offsetting the strength of some core product lines.

Gross margin in the fourth quarter was 31.2 percent, up from 30.3 percent last year as a result of continuing margin expansion efforts, partially offset by higher tooling amortization. Operating margin was negative 1.4 percent, an improvement from last year due to the higher gross margin and lower SG&A expenses, offset in part by higher marketing expenses.

Reported net loss attributable to Jakks Pacific for the fourth quarter of 2016 was $7.6 million, or $0.47 per diluted share. This compares to net loss attributable to Jakks Pacific of $9.3 million, or $0.50 per diluted share in the same year-ago quarter. Adjusted EBITDA for the fourth quarter was $4.0 million, up from the negative $2.1 million in the year-ago quarter due to the higher margins on slightly higher sales in 2016.