JAKKS Pacific Posts Wider Q2 Loss - Quick Facts

(RTTNews) - JAKKS Pacific, Inc. (JAKK) reported that its second-quarter adjusted EBITDA was negative $11.5 million, compared to adjusted EBITDA of negative $8.5 million, a year ago. Adjusted loss per share was $0.83 compared to a loss of $0.72 prior year. On average, three analysts polled by Thomson Reuters expected the company to report a loss per share of $0.56, for the quarter. Analysts' estimates typically exclude special items.

Second-quarter net sales were $95.2 million compared to $105.8 million, a year ago. Sales were negatively impacted primarily by a decline in sales of Incredibles 2. Analysts expected revenue of $95.6 million for the quarter.

"As expected, our results for the second quarter showed the effect of declines in products that contributed strongly to results in the second quarter of last year. We remain confident that our second half sales will show renewed strength, as the disruptions caused by Toys R Us' liquidation in the U.S. no longer weigh down the industry. " said Stephen Berman, CEO of JAKKS Pacific.

For 2019, the company plans to grow sales by approximately 5% on a year-over-year basis with improved levels of adjusted EBITDA compared to 2018.