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.

Jakks Pacific Enters Global Licensing Deal for DC Super Hero Girls

Jakks DCSHG SocialJakks Pacific Inc. partnered with Warner Bros. Consumer Products, on behalf of DC Entertainment, for a multi-year, global licensing deal to manufacture, market, and distribute large action-pose dolls, dress-up, and Get Ready for Action items based on the DC Super Hero Girls universe.

DC Super Hero Girls follows female Super Heroes and Super Villains of the DC universe during their high school years, before they discover their full super power potential. Each character has his or her own storyline that explores what teen life is like as a Super Hero, including discovering unique abilities, nurturing powers, and mastering the fundamentals of being a hero.

Jakks’ DC Super Hero Girls line will be available at retailers this fall.

Jakks Pacific Launches Smurfs Toy Line

Jakks_Smurfs

Jakks Pacific Inc., Lafig Belgium S.A., and Sony Pictures Consumer Products partnered for the global launch of Smurfs toys inspired by the animated film Smurfs: The Lost Village, from Sony Pictures Animation.

Jakks’ range includes figurines, play sets, and talking plush that will feature Smurfs characters including Smurfette, Clumsy, and Hefty. Key items include Smurfs and Animal Friends Assortment; 8-inch Bean Bag PlushSmurf Vehicle PacksTalking Feature Plush; Smurf Mushroom House Playsets; and Jumbo Basic Plush. [Read more...]

Disney Channel Renews Elena of Avalor for Season Three, Expands Licensees

ELENADisney Channel ordered a third season of Elena of Avalor, an animated series that follows a brave and adventurous teenager who rules her kingdom. The series premiered last summer in the U.S. and targets kids ages 2 to 11. Elena of Avalor holds the number one spot in its timeslot in the U.S., the UK, Spain, and Portugal. Episodes from the second season will premiere this fall on Disney Channel and Disney Junior. [Read more...]

Jakks Retires $11.548 Million of Company’s 2018 Convertible Senior Notes

jakks_logo_new copyJakks Pacific Inc. agreed with a holder of its convertible senior notes due in 2018 to exchange $11.548 million face amount of such notes for 865,000 shares of its common stock and approximately $7.0 million in cash. After such exchange the balance of the face amount of the 2018 notes will have been reduced to approximately $54.7 million from approximately $66.3 million. [Read more...]