JAKKS Pacific Reiterates 2016 Growth In Financial Guidance - Quick Facts

(RTTNews) - JAKKS Pacific, Inc. (JAKK) announced, for 2016, the company continues to forecast net sales to increase 7 percent to approximately $800.0 million; earnings per share to increase 10 percent to approximately $0.78 per share; and Adjusted EBITDA to increase 28 percent to approximately $65.0 million. Analysts polled by Thomson Reuters expect the company to report profit per share of $0.78 on revenue of $795.17 million. Analysts' estimates typically exclude special items. The company noted that its 2016 guidance reflects anticipated gross margin expansion and operating margin growth in 2016.

The net loss for the first quarter of 2016 was $17.4 million, or $1.01 per share compared to a net loss of $7.6 million, or $0.40 per share, reported in the comparable period in 2015. Adjusted EBITDA was negative $9.2 million, compared to Adjusted EBITDA of negative $0.9 million in 2015. Net sales for the first quarter of 2016 were $95.8 million compared to $114.2 million reported in the comparable period in 2015. Analysts expected revenue of $98.00 million, for the quarter.

The company said the year-over-year reduction in first quarter 2016 net sales and earnings reflects a decline in sales of a product line in international markets, and the increase in the quarterly loss also includes the impact of a loss of $0.05 per share due to fewer common shares outstanding during the quarter. The reduced share count is a direct result of the company's ongoing stock buy-back program. On a static share count, earnings would have been a loss of $0.96 per share. On average, five analysts polled by Thomson Reuters expected the company to report a loss per share of $0.94 for the quarter.