On Tuesday, Jakks Pacific Inc. reported its second quarter financial results. For the quarter ended June 30, the company reported net sales of $131.1 million, compared to $124.2 million reported in the comparable period last year.
The reported net loss for the second quarter was $5.7 million, or $0.30 per diluted share. This compares to a net loss of $9.1 million, or $0.43 per diluted share, reported in the comparable period last year. Adjusted EBITDA for the second quarter of 2015 improved to $1.5 million, compared to adjusted EBITDA of $1.2 million last year.
Net sales for the six months ending June 30 increased 19 percent to $245.3 million, compared to $206.7 million last year. The reported net loss for the six-month period was $13.3 million, or $0.69 per diluted share, compared to a net loss of $25.4 million for the first six months of last year, or $1.17 per diluted share. Adjusted EBITDA for the first six months of 2015 improved to $0.6 million, compared to negative EBITDA of $10.4 million for the first six months of last year.
Driving success in the second quarter was Jakks Pacific’s line of Frozen-licensed dolls and costumes, as well as the Disney Princess and Disney Fairies product lines. In addition, Jakks Pacific’s World of Nintendo toys, its Max Tow and XPV brands of vehicles, and Funnoodle seasonal water floats performed well in the quarter.
“Looking ahead, I am confident we are poised to continue the momentum of growth and profitability with a compelling portfolio of brands, and believe our product lines slated for introduction this fall will be one of our most innovative lines yet,” says Stephen Berman, CEO of Jakks Pacific.
