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Jakks Pacific suffers larger losses than expected

Toy maker loses 50 cents per share this quarter

01/03/2016

JAKKS Pacific’s revenues declined almost 35.7% year over year to $163.4 million. However, revenues beat the Zacks Consensus Estimate of $162 million by 1%. The company’s revenues declined due to tougher year-over-year comparisons. In fourth-quarter 2014, JAKKS Pacific recorded substantially higher sales of the Frozen toy product lines, especially Snow Glow Elsa. Despite suffering a loss in the quarter, cost saving initiatives would benefit JAKKS Pacific over the long term. These initiatives include the elimination of underperforming units and rightsizing businesses.

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