Jakks Pacific Inc. said Monday that fourth-quarter net income more than doubled as sales at the children's toy maker, which sells Dora the Explorer products, rose 43%. Its stock gained 17%.
The Malibu-based company's net income rose to $23.2 million, or 73 cents a share, compared with $9 million, or 30 cents, a year earlier, the company said. Sales increased to $238.3 million from $166.3 million a year earlier.
The growth stems from increased sales of the company's XPV radio-controlled vehicle, Disney princess-related products and role-play toys, Chief Executive Stephen Berman said.
"You always just plan for the best," Berman said. "I just think everything fell in line when the quarter was completed."