JAKKS Pacific Q4 Loss Narrows; Expects Return To Profitability In 2014

(RTTNews) - JAKKS Pacific, Inc. (JAKK) reported a fourth-quarter net loss of $16.1 million, or $0.73 per share, which included a restructuring charge of $5.0 million, or $0.23 per share. This compares to a net loss of $119.5 million, or $5.45 per share, reported in the comparable period in 2012, which included a one-time non-cash charge of $91.7 million, or $4.18 per share, related to the impairment of deferred tax assets. Loss from operations narrowed to $16.05 million, from $31.21 million, prior year.

On average, eight analysts polled by Thomson Reuters expected the company to report a loss of $0.82 per share, for the quarter. Analysts' estimates typically exclude special items.

Net sales were $137.7 million, compared to $133.5 million, prior year. Analysts expected revenue of $128.88 million for the quarter.

The company currently anticipates net sales for the full year of 2014 in the range of approximately $633 million to $640 million, with 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 the company to report full year 2014 profit per share of $0.11 on revenue of $643.72 million.

For the first quarter ending March 31, 2014, the company expects net sales in the range of $72 million to $75 million with a loss in the range of $0.77 to $0.81 per share. Analysts expect the company to report a first-quarter loss per share of $0.74 on revenue of $79.95 million.