JAKKS Pacific (JAKK) Warns for FY16

JAKKS Pacific, Inc. (NASDAQ: JAKK) today revised its previously issued outlook for 2016. The Company now expects net sales of approximately $700 million (*** consensus is $753.2 million), seven percent lower than its previous outlook, with earnings expected to be approximately $0.01-$0.05 per diluted share (*** consensus is $0.55). Adjusted EBITDA is expected to be approximately $37.0 million for the year. The shortfall is primarily due to lower than expected sales of select key product lines. By comparison, net sales in 2015 were $745.7 million with earnings of $0.71 per diluted share and Adjusted EBITDA of $51.0 million. JAKKS is optimistic that its strategic initiatives, including new internally developed content, products based on new licenses, its new skin care and performance make-up brand, and the opening of offices in five new countries will contribute to the future growth of its business and profitability.

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