Monsuno helps Jakks to Q2 sales boost
Favourable results for Jakks Pacific’s 2012 second quarter ending 30 June has prompted CEO Stephen Berman to indicate optimism for the coming third quarter.
Jakk’s reported US$145.4 million net sales, up from US$131.9 million in the same period last year, boosted by the launch of boys’ action property Monsuno and girls’ fairy powerhouse, Winx Club.
The company’s reported net income for the second quarter was down however, totalling only US$0.2 million, in comparison to US$4.2 million net income for the same period in 2011.
Excluding the pre-tax charges related to financial and legal advisory fees and expenses associated with the unsolicited indication of interest and activist shareholder activities, second quarter earnings would have totalled US$1.6 million.
Modification to Jakk’s THQ settlement agreement payment terms has resulted in a deferral of US$2.0 million of income from Q2 to US$1.0 million to each of the third and fourth quarters of 2012.
Net sales for the six months ending June 30th, meanwhile, were substantially higher at US$218.8 million against US$204.3 million last year as was the net loss reported for the second quarter, at US$15.8 million versus US$6.3 million in 2011.
“We are on track to meet our guidance ranges for the full year. With the expansion of the Monsuno toys in the US our outlook for the third quarter remains optimistic with contributions coming from a broad range of products including Winx Club, Big Wheel and the strong momentum already shown by our growing pool of owned content,” said CEO Stephen Berman.