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April 24, 2008 | From Times Wire Services
Toy maker Jakks Pacific Inc., hurt by litigation and product testing costs, reported lower quarterly profit, sending its shares down 8%. First-quarter profit fell to $877,000, or 3 cents a share, from $3.2 million, or 12 cents a share, a year earlier. Sales rose 5.5% to $130.9 million.
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BUSINESS
September 15, 2013 | By Ronald D. White
For the last 18 years, Jakks Pacific Inc. has been a player in the ultra-competitive Southern California toy-making business, up against the likes of giant Mattel Inc. in El Segundo and others. But Jakks' roster of toys - including the Smurfs, Monsuno action figures and Winx Club fairy dolls - have not been pulling in the fun for investors. Sales have declined five straight years. In the most recent quarter, revenue fell 27% and the Malibu company lost $46.9 million compared with net income of $214,000 a year earlier.
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BUSINESS
February 27, 2007 | From Bloomberg News
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.
BUSINESS
December 22, 2012 | By Ronald D. White, Los Angeles Times
When a toy designer's young daughter becomes fascinated by the gel-like beads in a flower vase, there is only one conclusion to draw: "There has got to be a toy in here somewhere," says Ron Brawer, a partner in the Maya Group and a toy industry veteran. The fast-growing Torrance company has gone on to develop dozens of playthings based on those transparent polymer pellets. One of those toys, a modified water gun called the Xploderz XBlaster 200, was a finalist for the 2012 Outdoor Toy of the Year Award from the Toy Industry Assn.
BUSINESS
July 29, 2009 | Times Staff and Wire Reports
Toy company Jakks Pacific Inc. posted a second-quarter loss, citing the weak retail environment, and lowered its full-year guidance. The Malibu company lost $406.5 million, or $14.96 a share, down from a profit of $4.2 million, or 15 cents, a year earlier. Excluding one-time charges, Jakks reported an adjusted loss of $900,000, or 3 cents a share. Sales fell to $144.8 million from $145.3 million. For the year, Jakks now expects a loss of $375.6 million, or $13.54 a share, on sales of $810 million, and adjusted profit of $1.01 a share.
BUSINESS
April 24, 2009 | Times Wire Reports
Toy maker Jakks Pacific Inc. reported a bigger first-quarter loss than expected and lowered its 2009 guidance. The loss totaled $10.8 million, or 40 cents a share, compared with a year-ago profit of $877,000, or 3 cents. Revenue fell 17% to $108.7 million. The Malibu-based company lowered its outlook to $1.70 to $2 per share from previous guidance of $2.25. Jakks Pacific shares fell $2.13 to $11.30.
BUSINESS
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.
BUSINESS
October 22, 2008 | Times Wire Reports
Toy maker Jakks Pacific Inc. reported 14% higher third-quarter profit on gains from a tax benefit and higher sales as it had solid results in its dolls, action figures and electronic toy lines. Jakks' profit rose to $54.1 million, or $1.70 a share, from $47.3 million, or $1.45, a year earlier. Sales rose 12% to $357.8 million. Shares fell 27 cents, or 1.3%, to $20.25.
BUSINESS
October 23, 2002 | Abigail Goldman, Times Staff Writer
Toy maker Jakks Pacific Inc. said third-quarter net income rose more than 27%, a result of cost cutting, new products and the company's best-ever quarterly sales. The Malibu-based maker of World Wrestling Entertainment action figures and Pentech pens said Tuesday that it earned $14 million, or 58 cents a share, for the three months ended Sept. 30, up from $10.9 million, or 56 cents, in the same period a year ago. Sales for the period rose more than 10% to $102.6 million, up from $92.
BUSINESS
August 30, 2008 | From Times Wire Services
Shares of Jakks Pacific Inc., the toy maker that sells Dora the Explorer products, rose 7.1% after the company said the Connecticut state court had dismissed bribery and antitrust claims initiated by World Wrestling Entertainment Inc. WWE filed a complaint against Malibu-based Jakks in October 2006 that alleged that there had been improper sales of WWE games in Asia, Jakks said in an Aug. 11 regulatory filing. Related litigation was filed in 2004 in federal court in New York and later dismissed.
BUSINESS
July 26, 2012 | By Dalina Castellanos
Malibu toymaker Jakks Pacific Inc. announced Thursday its acquisition of Maui Inc. for an undisclosed amount. With the move, outdoor activity and sports toys such as the glittery Wave Hoops and bouncy Sky Ball will join Cabbage Patch Dolls and Pokemon under Jakks' umbrella. Jakks is slated to acquire all shares of Ohio-based Maui, as well as its Hong Kong-based affiliate A.S. Design Limited, the company said in a news release. “We look forward to joining the Jakks Pacific family and having the support of such a dynamic consumer products company,” said Maui's Chief Executive Brian Kessler.
BUSINESS
July 25, 2012 | By Shan Li
This post has been corrected. See the note at the bottom for details. Toymaker Jakks Pacific is joining forces with Los Angeles tech firm Nantworks to develop and sell a new line of toys tied to smart devices. The toy collection will incorporate a free app designed by Nantworks that uses image-recognition technology to recognize objects and trigger photos, animations and other data to pop up on a smartphone or tablet computer. For example, a smartphone with the app open can be pointed to a costume tiara -   and on the phone's screen, hair could be programmed to digitally grow from the crown, said Stephen Berman, Jakks' chief executive.
BUSINESS
April 24, 2012 | By Hugo Martín, Los Angeles Times
A long-running takeover bid for Malibu toy maker Jakks Pacific Inc. took a turn toward conciliation with the Los Angeles investment management firm that wants to buy it. After fending off an unsolicited takeover bid from Oaktree Capital Management, Jakks agreed to give the management firm detailed financial information about the company, setting the stage for another bid. But a sale of Jakks, one of the nation's largest makers of action figures,...
BUSINESS
April 23, 2012 | Blomberg News
Jakks Pacific Inc. agreed to meet with Oaktree Capital Management, the investor that reiterated last week its interest in acquiring the toymaker. Jakks shares surged. Jakks also approved a tender offer to buy at least $80 million of its shares for at least $20 each, and will add two independent directors, the Malibu toy company said today in a statement disclosing it will meet with and provide information to Oaktree. Jakks rose as much as 11 percent. Jakks also entered into an agreement with Clinton Group Inc., a New York-based hedge fund, that gives it approval of new board members in exchange for supporting current directors.
BUSINESS
February 9, 2012 | By Shan Li, Los Angeles Times
At the headquarters of Jakks Pacific Inc. on Pacific Coast Highway in Malibu, Chief Executive Stephen Berman is busy playing with his toys. "Look, this is an amazing, 'toyriffic' product. Just a really magical toy," Berman said, twirling around a small plastic cylinder that is part of a new line of toys for boys. "It's truly magical. " Jakks isn't as known to consumers as nearby rival Mattel Inc., which is nearly 10 times its size in sales, but it has built itself into one of the largest second-tier U.S. toy companies mainly by bulking up on products it makes under name brands such as Disney, Nickelodeon, Cabbage Patch Kids, Hannah Montana and Pokemon.
BUSINESS
January 24, 2012 | By Shan Li, Los Angeles Times
After a weak holiday season, shares of Malibu toy maker Jakks Pacific Inc. rose on rumors that it may once again get a takeover bid from Oaktree Capital Management — after rejecting an earlier offer from the Los Angeles investment company. An industry analyst suggested that, because of the poor holiday results, the new bid may be lower than the last one. Last October, Oaktree offered to take the toy company private in a $670-million hostile bid that offered shareholders $20 a share in cash.
BUSINESS
November 25, 2004 | Melinda Fulmer, Times Staff Writer
Malibu-based Jakks Pacific Inc. has sued rival Mattel Inc. in Los Angeles County Superior Court, accusing the toy maker of breaching its contract with X Games star Travis Pastrana.
BUSINESS
February 12, 2005 | James F. Peltz, Times Staff Writer
The stock of Jakks Pacific Inc. fell sharply Friday amid investors' growing concern that a licensing scandal could further envelop the Malibu toy company. After plunging more than 20% in morning trading, Jakks' stock rebounded but still finished with a 6.3% loss, down $1.44 at $21.44 a share on Nasdaq as more than 4 million shares changed hands. The slide came after a former licensing chief at World Wrestling Entertainment Inc., James K.
BUSINESS
January 23, 2012 | By Shan Li
After a bad holiday season, shares of Jakks Pacific Inc. rose on rumors that the toy maker will receive another takeover bid from Oaktree Capital Management after rejecting an earlier offer from the Los Angeles investment company. Oaktree had previously offered to take the Malibu toy company private last October in a $670-million hostile bid that offered shareholders $20 a share in cash. At the time, analysts speculated that the offer was too low. But after a poor fourth quarter, Jakks recently slashed its full-year outlook to earnings of 37 to 40 cents a share on annual sales of about $660 million.
BUSINESS
September 15, 2011 | By Andrea Chang, Los Angeles Times
Malibu toy maker Jakks Pacific Inc. has received a $670-million takeover bid from Oaktree Capital Management after the Los Angeles investment firm tried for months to work out a friendly deal with the company. One of the five largest U.S. toy companies, Jakks designs and markets action figures, electronics, dolls, costumes and stuffed animals and is a licensee of major brands including Disney, Nickelodeon, Cabbage Patch Kids, Hello Kitty and Pokemon. It was founded in 1995 and went public a year later.
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