jakks_logoJakks 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.

Net sales for the full year were $810.1 million, compared to $632.9 million in the previous year. Reported net income for the full year was $21.5 million, or $0.70 per diluted share. This compares to a net loss for the previous full year of $53.9 million, or $2.43 per diluted share. Adjusted EBITDA for the full year increased to $52.9 million, compared with negative EBITDA of $17.0 million for the previous year.

Stephen Berman, president and CEO, Jakks Pacific Inc., credited the company’s foresight to build inventory ahead of the port issues and the Chinese New Year, along with its warehouse and distribution efficiencies, for allowing it to ship products and meet retailers’ needs. Berman also cited the performance of Jakks Pacific’s Disney Frozen product line, Max Tow Truck, licensed, large-scale Big Figures, Nintendo figures and plush, and Disguise Halloween costumes.

For this year, Jakks Pacific is currently forecasting net sales in the range of approximately $730 million to $740 million, with earnings in the range of approximately $0.71 to $0.75 per diluted share, and EBITDA in the range of approximately $56 million to $58 million. For the first quarter ending March 31, the company expects net sales in the range of approximately $101 million to $103 million, with a loss in the range of approximately $0.47 to $0.44 per share compared to net sales of $82.5 million and a loss of $0.74 per diluted share for the same period last year. EBITDA is expected to be in the range of a $2.8 million to $2.2 million loss for the first quarter.