Jakks Pacific Inc. revised its previously issued outlook for 2016, as the company now expects net sales of approximately $700 million. This is seven percent lower than its previous outlook, with earnings expected to be approximately $0.01-$0.05 per diluted share.
Adjusted EBITDA is expected to be approximately $37.0 million for the year. The shortfall is primarily due to lower sales than expected in key product lines. By comparison, net sales in 2015 were $745.7 million with earnings of $0.71 per diluted share and adjusted EBITDA of $51.0 million.