Boston, MA 10/24/2013 (wallstreetpr) – JAKKS Pacific, Inc. (NASDAQ:JAKK) reported results for the third quarter of the company that ended on September 30, 2013. The net sales for 3Q13 were $310.9 million compared to net sales of $314.5 million in the same period of the year 2012. The net income for the 3Q was $1.11 per diluted share, or $36.6 million, which reflects the net diluted impact of $0.21 per diluted share. This can be compared to the net income for the year 2012, which was $30.4 million, or $1.10 per diluted share.
The net sales for 9 months that ended on September 30, 2013, were $495.2 million compared to $533.3 million in the year 2012. The reported net loss for this 9 month period was $1.73 per diluted share, or $37.8 million, that includes charges for inventory impairment of $14.9 million and license minimum guarantee shortfalls of $14.4 million. The net sales was $0.59 per diluted share, or $14.7 million, for the first 9 months of the year 2012 that included legal advisory and pre-tax financial fees and costs related to indication of interest that ended.
The president and the Chief Executive Officer of JAKKS Pacific, Stephen Berman, said that the company is pleased with the financial results for the 3Q during which they completed their $100 million convertible senior note financing. He added that the company sold a broad array of products that included Disney Princess dolls, role play and dress up, Disguise Halloween costumes, Sofia the First role play and dress up items, foot-to-foot ride-ons, 31″ Giant Action Figures, and kids furniture during the quarter.
Stephen Berman continued by saying that they completed their Fall Toy Preview meetings recently and are pleased with the enthusiastic response from licensors, retailers, and other industry partners to line up their 2014 product, especially the reaction to their new toys that are driven by technology.
