Jakks Pacific expects a return to profits in 2014 | Key4Communications | News

Jakks Pacific closed 2013 with net sales of $632.9 million, down 5% from a year ago, and with a loss of $53.9 million, compared to $104.8 million in 2012. The losses of the past year include the costs of license minimum guarantee shortfalls of $14.4 million, an inventory impairment of $14.9 million, plus a $5 million charge for restructuring costs. In the fourth quarter, the company entered $137.7 million, up from $133.5 million a year ago, and lost $16.1 million, compared to $119.5 million in 2012.

The company has highlighted the strong sales of Disney Princess dolls, as well as of Frozen, Sofia the First, and Black & Decker role play toys. The firm was also satisfied with the results of its large-scale figures, as well as of its ride-ons and its activity tables.

Given this positive development in 2013, exceeding the expectations of the company, Jakks Pacific has announced that it expects sales in 2014 in line with last year and a profit of between $0.30 and $0.40 per share, as well as earnings before depreciation and taxes of between $41 and $43 million , thanks to the improved margins and cost savings initiatives undertaken in 2013.