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Jakks Pacific Inc

BUSINESS
April 21, 2005 | From Associated Press
Jakks Pacific Inc., a consumer goods vendor that makes products as diverse as toys and writing instruments, reported that first-quarter profit more than doubled as the company realized an 82% jump in sales. Quarterly income was $10.1 million, or 34 cents a share, compared with $3.8 million, or 15 cents, a year earlier. Revenue soared to $134.7 million, up from $74 million recorded during last year's first quarter.
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BUSINESS
February 23, 2005 | Melinda Fulmer, Times Staff Writer
Malibu toy maker Jakks Pacific Inc. said Tuesday that net income grew almost sixfold on strong sales of its TV Games, Care Bear and Cabbage Patch products. However, uncertainty over a pending lawsuit by World Wrestling Entertainment Inc. and a request by the Securities and Exchange Commission to restate its 2002 and 2003 earnings cast a pall over the quarter's results. Shares of Jakks, which had risen as high as $23 early in the day, closed up 17 cents to $20.98 on Nasdaq.
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
November 18, 2004 | From Times Wire Services
Shares of Jakks Pacific Inc. fell 3% after a dispute with World Wrestling Entertainment Inc. over the announcement of a licensing agreement. The Malibu-based toy maker announced an agreement to develop a game system based on WWE characters, citing Donna Goldsmith, WWE's senior vice president of consumer products. WWE later said the deal was only an amendment to an earlier agreement that is now in dispute and Jakks didn't seek approval from Goldsmith to use her comment.
BUSINESS
October 31, 2004 | James F. Peltz, Times Staff Writer
Back in 1998, World Wrestling Entertainment Inc., the glitzy promoter of spandex-clad warriors, said it was entering an "exciting new phase." It had signed a deal for Malibu toy company Jakks Pacific Inc. and Calabasas Hills video game maker THQ Inc. to jointly produce video games based on WWE's star wrestlers and wild matches. Jakks was an "obvious choice," WWE's then-licensing chief James Bell said at the time, because it already was licensed to sell WWE toy action figures.
BUSINESS
April 21, 2004 | From Dow Jones
Toy company Jakks Pacific Inc. said Tuesday that its first-quarter earnings fell 27% as expenses related to a customer's bankruptcy and other charges offset a 9% increase in sales. Malibu-based Jakks reported net income of $4.43 million, or 17 cents a share, compared with $5.96 million, or 24 cents, a year ago. Sales climbed to $73.9 million. Excluding one-time items, earnings rose 15% to $6 million, or 23 cents a share, from $5.2 million, or 21 cents, last year.
BUSINESS
February 18, 2004 | From a Times Staff Writer
Malibu-based toy maker Jakks Pacific Inc. saw its sales rise 23% in the fourth quarter as net income fell nearly 3%. Profit fell to $7.1 million, or 29 cents a share, from $7.3 million, or 30 cents, a year earlier. Excluding charges related to recent customer bankruptcy filings including those of KB Toys Inc. and FAO Inc., net income rose to $8.9 million, or 36 cents, compared with $6.2 million, or 25 cents, a year before. Revenue rose to $84.4 million from $68.5 million.
BUSINESS
October 22, 2003 | From Dow Jones
Malibu-based toy maker Jakks Pacific Inc. said third-quarter profit dropped 31% to $9.6 million, or 39 cents a share, on sluggish sales resulting from the decline in popularity of certain products. The results were in contrast to net income of $14 million, or 58 cents, in the year-earlier quarter. Revenue fell 12% to $90.3 million.
BUSINESS
July 24, 2003 | Abigail Goldman
Shares in Malibu-based Jakks Pacific Inc. fell 11%, one day after company executives surprised investors by announcing sharply lower profit, losing $1.41 to close at $11.28 on Nasdaq. On Tuesday, the toy maker reported net income for the quarter ended June 30 of $3.2 million, or 13 cents a share, including one-time charges, down from $7.8 million, or 36 cents, a year earlier.
BUSINESS
July 23, 2003 | Abigail Goldman, Times Staff Writer
Toy maker Jakks Pacific Inc. stunned investors Tuesday with dramatically lower-than-expected profit in the second quarter, prompting an analysts' free-for-all on a conference call with company executives. One analyst called the quarter a "train wreck." Another said, "I think train wreck is putting it mildly."
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