JAKKS Pacific Posts Narrower-than-expected Loss In Q1; Backs FY14 Forecast

(RTTNews) - JAKKS Pacific, Inc. (JAKK), a toys and other consumer products maker, reported Wednesday that its first-quarter net loss was $16.31 million or $0.74 per share, compared to a net loss of $27.56 million or $1.26 per share a year ago.

On average, eight analysts polled by Thomson Reuters expected the company to report loss of $0.76 per share for the quarter. Analysts' estimates typically exclude special items.

Net sales for the first quarter increased 5.7 percent to $82.51 million from $78.07 million last year. Analysts estimated revenues of $76.13 million for the quarter.

Looking ahead, the company affirmed its previously issued guidance for the full year of 2014, which estimated net sales in the range of approximately $633 million to $640 million, earnings in the range of $0.30 to $0.40 per share and EBITDA in the range of $41 million to $43 million.

Analysts expect full-year earnings of $0.35 per share and net sales of $642.38 million.