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Jakks Pacific Inc

BUSINESS
July 23, 2002 | From Bloomberg News
Jakks Pacific Inc. reported quarterly profit in line with estimates but said it fired 48 employees, or 15% of its work force, in anticipation of weakness ahead. Shares of the Malibu-based toy maker dropped $1.83, or 12%, to $12.97 on Nasdaq. Jakks, whose products include World Wresting Entertainment action figures, said second-quarter net income rose 14% to $7.83 million, or 36 cents a share, from $6.87 million, or 36 cents, a year earlier. Sales rose 13% to $79 million.
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BUSINESS
October 20, 2005 | From Reuters
Toy maker Jakks Pacific Inc. on Wednesday reported a 41% increase in third-quarter earnings as sales rose 13%. Malibu-based Jakks said third-quarter net income rose to $32.8 million, or $1.05 a share, from $23.3 million, or 76 cents, a year earlier. The company -- maker of Cabbage Patch Kids dolls, Care Bears and Plug It In & Play TV Games -- said revenue rose to $233.5 million from $206.1 million. The results came after Mattel Inc. and Hasbro Inc.
BUSINESS
September 20, 2000 | Reuters
Toy company Jakks Pacific Inc. said it expects to report third-quarter earnings of 45 cents to 51 cents a share, well below analysts' average forecast of 62 cents, due to slower sales of its World Wrestling Federation toys. The warning caused Jakks stock to plunge $4, or 25%, to close at $12.25 on Nasdaq. Third-quarter net income is expected to range between $9.2 million and $10.3 million on revenue of $90 million to $95 million, the company said.
BUSINESS
October 23, 2007 | From Times Wire Services
Toy maker Jakks Pacific Inc. said third-quarter profit rose because of strong demand for its Cheetah Girls and Hannah Montana toys. Earnings climbed to $47.3 million, or $1.45 a share, from $40.5 million, or $1.26, a year earlier. Revenue rose to $318.4 million from $295.8 million. Analysts on average had expected profit of $1.30 a share on about $300.8 million in sales, according to Reuters Estimates.
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
July 14, 2000 | Indraneel Sur
It wasn't exactly a body slam, but Malibu toy maker Jakks Pacific Inc. bested a rival bidder for Edison, N.J., specialty stationer Pentech International. Pentech's board unanimously voted to accept Jakks' offer to buy the company for $20 million in cash and assume $19 million in debt. Jakks, whose World Wide Wrestling figures have been a best seller, originally signed an agreement to buy Pentech in May. But the company was forced to increase its bid by about 15%, from $1.40 to $1.
BUSINESS
October 20, 2006 | Abigail Goldman, Times Staff Writer
Jakks Pacific Inc., the Malibu-based toy maker behind this year's flying car, saw its stock take off Thursday after the company reported better-than-expected sales and earnings. Jakks said third-quarter net income rose 24% to $40.5 million, or $1.26 a share, from $32.7 million, or $1.05, a year earlier. Sales grew for the first time in four quarters, up 27% to $295.8 million from $233.5 million a year earlier.
BUSINESS
February 14, 2002 | From Times Wire Services
Jakks Pacific Inc., which makes toys including World Wrestling Federation action figures, said fourth-quarter profit fell 27% as the company had a reserve relating to Kmart Corp.'s bankruptcy protection filing. Net income fell to $4.39 million, or 22 cents a share, from $6.03 million, or 32 cents, a year earlier, Jakks said. Sales rose 4% to $61.4million from $59.1 million. Jakks said it had a $5-million reserve related to Kmart's Jan. 22 bankruptcy filing.
BUSINESS
March 14, 2003 | From Bloomberg News
Malibu toy maker Jakks Pacific Inc. agreed to pay $725,000 to resolve an investor lawsuit questioning the fairness of its $54.5-million acquisition of Toymax International Inc. Jakks, which makes World Wrestling Entertainment action figures, said last year that it would pay $3 in cash and $1.50 in stock for each share of Toymax, a 48% premium at the time. Toymax shareholder Harry Young Jr. sued in Delaware Chancery Court saying the stock was worth more.
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