JAKKS Pacific Backs 2017 Outlook

(RTTNews) - JAKKS Pacific Inc. (JAKK) said that for 2017, it continues to expect higher net income, earnings per share and Adjusted EBITDA on lower net sales compared to 2016.

The company expects improved profitability in 2017 to result from a continued focus on building our base of evergreen brands and categories, as well as entering new categories, creating a strong portfolio of new and existing licenses and developing owned IP and content.

The company expects to complete the previously announced sale of approximately 3.7 million shares of its common stock in the next few days to its Chinese distribution and animation joint venture partner for cash in the amount of $19.3 million.