maverick61
Here is a heads up (well,maybe)
They report tomorrow around 11.am
Stock has been selling off since it hit 15 on 2/16/01
with vol of 753,k...I'll be buying today or tomorrow with the thought that revs and earnings will be good for a LT hold...
JAKK....for those that don't know the co...
JAKKS Pacific, Inc is a multi-line,
multi-brand toy company that designs,
develops, produces and markets toys and
related products. The Company's principal
products are action figures and accessories
featuring licensed characters, principally
from the World Wrestling Federation;
Flying Colors molded plastic activity sets,
clay compound playsets and lunch boxes;
Wheels division products, including Road
Champs die-cast collectible and toy vehicles
and Remco toy vehicles and role-play toys
and accessories; Child Guidance infant and
pre-school electronic toys, toy foam puzzle
mats and blocks, activity sets and outdoor
products; and fashion and mini dolls and
related accessories. In July 2000 the
Company completed the acquisition of
Pentech International Inc. Pentech
manufactures and markets more than 200
varieties of specialty pens, pencils, markers
and related products under its own trade
names, including Color Club, and under
license from third parties.
Financial Summary
JAKKS Pacific, Inc. is engaged in the
development, manufacture and marketing of
toys and children's electronics products,
some of which are based on character and
product licenses. For the nine months ended
9/00, revenues rose 59% to $193.2 million.
Net income applicable to Common rose
80% to $22.6 million. Results reflect
continued growth in the Wheels division and
the addition of Flying Colors products.
Earnings reflect a $8.2 million income from
the joint venture with THQ.
ALSO..........comments on forth quarter,,,
Tuesday January 16, 8:33 am Eastern Time
Press Release
JAKKS Pacific Comments on
Fourth-Quarter 2000 and
Outlook for Fiscal 2001
David C. Blatte Named to Board of Directors
MALIBU, Calif.--(BUSINESS WIRE)--Jan. 16, 2001--JAKKS Pacific Inc.
(Nasdaq:JAKK - news) today announced that for its fourth quarter ended Dec. 31, 2000, it
expects to report net income in the range of $4.8 million to $5.6 million, or $0.26 to $0.30 per
diluted share, on net sales of $60 million to $62 million.
For the nine months ended Sept. 30, 2000, the company reported net income of $22.6
million, or $1.11 per diluted share, on net sales of $193.2 million, which when combined with
the anticipated results for the fourth quarter would give the company annual net income in the
range of $27.4 million to $28.2 million, or $1.32 to $1.36 per diluted share, on net sales of
between $253.2 million and $255.2 million.
The results include the company's share of earnings, but do not include revenue of its WWF
video game joint venture with THQ Inc. (Nasdaq:THQI - news).
Based on its anticipated results for 2000, the company expects to increase net sales by
approximately 38% and net income by approximately 27% over the 1999 year.
``2000 was an important year for the company marked by the assimilation of our previous
acquisition of Flying Colors Toys and by the key acquisition of Pentech International Inc.,''
commented Jack Friedman, the company's chief executive officer and chairman of the board.
``These acquisitions make JAKKS Pacific not only one of the largest toy companies in the
country, but also establish it as a leader in the activity crafts/writing instruments business and
position the company to take advantage of new opportunities in this segment of the business.
We are also pleased with the increased strong demand for our WWF line of action figures,
continued strong demand for our Flying Colors products and the outstanding performance of
the WWF video games manufactured and sold through our joint venture with THQ.''
``2001 should be another exciting and profitable year for the company,'' commented Stephen
Berman, president and chief operating officer, ``one in which the company's position as one of
the country's leading toy companies should be firmly reinforced.
``We especially look forward to our new product line introductions such as our `Harry Potter'
activity toys to be shipped during the third quarter, our new `Pound Puppies' line, an
expanded extreme sports line of vehicles, figures and playsets, and the introduction of many
new exciting products, which were well received at the recently concluded Hong Kong toy
show.
``We also remain optimistic about our new and expanded line of WWF action figures and
accessories for which we anticipate solid consumer demand,'' continued Berman. ``Our joint
venture with video game developer THQ has reaped several successful product introductions
in 2000.
``According to NPD TRSTS data for North America, `WWF SmackDown!(TM) 2: Know
Your Role,' which released on Nov. 20, holds the No. 1 spot on the PlayStation® charts and
`WWF No Mercy(TM),' which released on Nov. 13, ranked as the top-selling Nintendo® 64
game. In 2001, we look forward to the venture's launching of new WWF titles on Sony's
PlayStation 2, as well as Microsoft's Xbox.''
``The company enters 2001 with a solid balance sheet,'' said Joel Bennett, chief financial
officer. ``With approximately $70 million in cash and liquid net assets, no debt and
stockholders' equity in excess of $200 million, we are well positioned to continue executing
our business strategy of internal growth and growth by acquisitions.''
The company expects solid growth in fiscal 2001 with net income in the area of $30 million to
$32 million, or $1.61 to $1.72 per diluted share, on net sales of approximately $290 million to
$310 million, overall increases of approximately 8% to 15%, 16% to 24% and 14% to 22%
in net income, earnings per share and net sales respectively in 2001 over 2000. These
anticipated results are without any further acquisitions.
With the current management, staff and facilities in place and all prior acquisitions having been
integrated, the company is prepared to execute this aspect of its business strategy.
JAKKS also announced today that David C. Blatte has been appointed to the company's
board of directors and will serve on the board's audit committee. Blatte is currently a principal
with Catterton Partners, a Greenwich, Conn.-based investment firm that focuses on providing
equity capital to specialty retail, consumer products and branded products companies.
Prior to joining Catterton Partners in April 2000, Blatte was a senior vice president at
Donaldson, Lufkin & Jenrette Securities Corp., where he spent seven years in DLJ's
top-ranked specialty retail group. During his tenure at DLJ, Blatte -- who has worked with
many of the country's leading retailing and specialty distribution companies -- was involved in
many transactions that included mergers, acquisitions, stock offerings, recapitalizations and
private placements.
Blatte holds a bachelor's degree from the University of Pennsylvania's Wharton School of
Business where he majored in accounting and finance.
JAKKS Pacific is a multi-brand toy company that designs, develops, produces and markets
toys and related products under various brand names (including Flying Colors®, Road
Champs®, Remco®, Child Guidance®, Color Club® and Pentech®) in multiple product
categories, including: Wheels; Action Figures; Crafts/Activities/Stationery; Infant/Pre-School;
Trading Cards/Games; Plush; and Dolls.
The company also participates in a joint venture that has exclusive worldwide rights to publish
and market World Wrestling Federation® (WWF) video games.
``Safe Harbor'' Statement under the Private Securities Litigation Reform Act of 1995: This
news release contains forward-looking statements. Such statements reflect the current views
of the company with respect to future events and are subject to certain risks, uncertainties and
assumptions. Although the company believes that the expectations reflected in such
forward-looking statements are reasonable, should one or more of these risks or uncertainties
materialize, or should underlying assumptions prove incorrect, actual future results or events
may vary materially from those described herein. |
