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Earnings Roundup / Jakks Pacific

Toy maker's net income off 49%

February 19, 2009|Times Wire Reports

Toy maker Jakks Pacific Inc. said fourth-quarter profit dropped 49%, hurt by a difficult holiday season and weak sales of Hannah Montana and Care Bears toys.

Net income fell to $16.9 million, or 55 cents a share, from $33.4 million, or $1.03, a year earlier. Revenue declined 6% to $269.3 million.

Analysts polled by Thomson Financial predicted a profit of $1.05 a share on revenue of $278.9 million.

Shares of Malibu-based Jakks Pacific fell 96 cents to $15.81.

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