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JAKKS Pacific announces Q2 & six months results
30 Jul '07
3 min read
JAKKS Pacific, a leading toy and consumer products company announced results for the second quarter and six months ended June 30, 2007.
Second quarter 2007 net sales were $129.5 million, compared to $124.0 million recorded in the comparable period last year. Net income for the second quarter was $5.0 million, or $0.17 per diluted share, compared to $6.4 million, or $0.22 per diluted share, reported in the second quarter of 2006.
The Company's net sales for the six months ended June 30, 2007 were $253.6 million, compared to $231.3 million during the same period in 2006. Net income for the first six months of 2007 was $8.3 million, or $0.30 per diluted share, compared to the first six months 2006 earnings of $8.7 million, or $0.31 per diluted share.
"We have excellent placement of our key items at major retailers as we head into the important holiday season," said Jack Friedman, Chairman and Chief Executive Officer, JAKKS Pacific. "With an exciting roster of new products hitting retail late summer and early fall, we are very comfortable with our previously issued full-year guidance of $800 million in net sales and net income of $75.8 million, or $2.39 per diluted share."
Stephen Berman, President and Chief Operating Officer, stated, "Several of our product lines exceeded our expectations in the second quarter, with the largest contributions coming from our action figures, dress-up and role play toys. And, as expected, while we began shipping our sales drivers for Fall at the end of the second quarter, the bulk of our new products began shipping early in the third quarter.
Second quarter 2007 net sales were $129.5 million, compared to $124.0 million recorded in the comparable period last year. Net income for the second quarter was $5.0 million, or $0.17 per diluted share, compared to $6.4 million, or $0.22 per diluted share, reported in the second quarter of 2006.
The Company's net sales for the six months ended June 30, 2007 were $253.6 million, compared to $231.3 million during the same period in 2006. Net income for the first six months of 2007 was $8.3 million, or $0.30 per diluted share, compared to the first six months 2006 earnings of $8.7 million, or $0.31 per diluted share.
"We have excellent placement of our key items at major retailers as we head into the important holiday season," said Jack Friedman, Chairman and Chief Executive Officer, JAKKS Pacific. "With an exciting roster of new products hitting retail late summer and early fall, we are very comfortable with our previously issued full-year guidance of $800 million in net sales and net income of $75.8 million, or $2.39 per diluted share."
Stephen Berman, President and Chief Operating Officer, stated, "Several of our product lines exceeded our expectations in the second quarter, with the largest contributions coming from our action figures, dress-up and role play toys. And, as expected, while we began shipping our sales drivers for Fall at the end of the second quarter, the bulk of our new products began shipping early in the third quarter.
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