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Jakks Pacific Inc (JAKK) SEC Filing 10-K Annual report for the fiscal year ending Tuesday, December 31, 2013

Jakks Pacific Inc

CIK: 1009829 Ticker: JAKK

Exhibit 99.1

JAKKS Pacific® Reports Fourth Quarter and Year-End Results for 2013

Expects Return to Profitability in 2014; Enters Into Commitment Letter with GE Capital for $75 Million Credit Facility

MALIBU, Calif.--(BUSINESS WIRE)--February 26, 2014--JAKKS Pacific, Inc. (NASDAQ: JAKK) reported results for the Company’s fourth quarter and full year ended December 31, 2013.

Net sales for the fourth quarter of 2013 were $137.7 million, compared to $133.5 million reported in the comparable period in 2012. The reported net loss for the fourth quarter was $16.1 million, or $0.73 per diluted share, which included a restructuring charge of $5.0 million, or $0.23 per share. This compares to a net loss of $119.5 million, or $5.45 per diluted share, reported in the comparable period in 2012, which included a one-time non-cash charge of $91.7 million, or $4.18 per diluted share, related to the impairment of deferred tax assets.

Net sales for the full year of 2013 were $632.9 million compared to $666.8 million in 2012. The reported net loss for the full year was $53.9 million, or $2.43 per diluted share, which included charges for license minimum guarantee shortfalls of $14.4 million and inventory impairment of $14.9 million in addition to the restructuring charge of $5.0 million. This compares to net loss for the full year of 2012 of $104.8 million, or $4.37 per diluted share, which included $91.7 million, or $3.83 per diluted share, for the deferred tax asset impairment charge.

Stephen Berman, President and CEO, JAKKS Pacific, Inc., stated, “Our sales results for the fourth quarter of 2013 contributed to our exceeding our revised sales and earnings guidance for the full year. Highlights of our fourth quarter sales include Disney Princess dolls and dress-up, including products from the blockbuster Disney animated feature film, Frozen, Sofia the First role play toys, Disney Fairies dolls and dress-up, Cabbage Patch Kids, Black & Decker boys role play, large scale figures, foot-to-floor ride-ons, and activity tables.”

Mr. Berman continued, “We recently completed our Hong Kong Toy Fair and Nuremberg Toy Fair meetings to preview our 2014 product line-up and the response from our North American and International retailers were very positive. From a product standpoint, we have a broad and robust portfolio this year comprised of evergreen categories and licenses coupled with hot new licensed properties. In Boys, we are looking forward to launching our line of our large-scale figures based on Teenage Mutant Ninja Turtles, Star Wars, and the upcoming theatrical release of Godzilla and other top boys’ licenses, and our new Hero Portal TV Games platform. For Girls, we are adding even more Disney licensed products to our portfolio, including more dolls and dress-up items based on Frozen. We have added new licenses and distribution channels for our miWorld™ playsets such as top girls’ brands, Justice® and Skechers®.”


The following information was filed by Jakks Pacific Inc (JAKK) on Wednesday, February 26, 2014 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside this 10-K Annual Report

Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive Income (loss)
Consolidated Statements Of Operations
Consolidated Statements Of Stockholders' Equity
Accrued Expenses
Accrued Expenses (detail)
Accrued Expenses (tables)
Balance Of Investment In Joint Venture (detail)
Business Combinations
Business Combinations (tables)
Business Combinations - Additional Information (detail)
Business Segments, Geographic Data, Sales By Product Group And Major Customers
Business Segments, Geographic Data, Sales By Product Group And Major Customers (tables)
Business Segments, Geographic Data, Sales By Product Group And Major Customers - Additional Information (detail)
Changes In Carrying Amount Of Goodwill (detail)
Commitments
Commitments (tables)
Commitments - Additional Information (detail)
Common Stock, Preferred Stock And Warrants
Common Stock, Preferred Stock And Warrants (tables)
Common Stock, Preferred Stock And Warrants - Additional Information (detail)
Components Of Deferred Tax Assets/(liabilities) (detail)
Components Of Income (loss) Before Provision (benefit) For Income Taxes (detail)
Components Of Rental Property Reorganization Charges (detail)
Concentration Of Credit Risk
Concentration Of Credit Risk - Additional Information (detail)
Convertible Senior Notes
Convertible Senior Notes (detail)
Convertible Senior Notes (parenthetical) (detail)
Convertible Senior Notes (tables)
Convertible Senior Notes - Additional Information (detail)
Credit Facility
Credit Facility - Additional Information (detail)
Employee Benefits Plan
Employee Benefits Plan - Additional Information (detail)
Fair Value Of Warrants Estimated Using Black-scholes Method (detail)
Financial Assets Measured At Fair Value On Recurring Basis (detail)
Future Amortization Expense (detail)
Future Annual Minimum Royalty Guarantees (detail)
Future Minimum Guaranteed Amount (detail)
Goodwill
Goodwill (tables)
Goodwill - Additional Information (detail)
Income Taxes
Income Taxes (tables)
Income Taxes - Additional Information (detail)
Information By Geographic Area (detail)
Information By Segment And Reconciliation To Reported Amounts (detail)
Information Of Utps Affecting Effective Tax Rate, If Recognized (detail)
Intangible Assets And Debt Issuance Costs (detail)
Intangible Assets Other Than Goodwill
Intangible Assets Other Than Goodwill (tables)
Intangible Assets Other Than Goodwill - Additional Information (detail)
Inventory Stated At Lower Of Cost (first- In, First- Out) Or Market (detail)
Joint Ventures
Joint Ventures (tables)
Joint Ventures - Additional Information (detail)
Key Components Of Convertible Senior Notes (detail)
Leases
Leases (tables)
Leases - Additional Information (detail)
Litigation
Litigation - Additional Information (detail)
Net Sales To Major Customers (detail)
Plan Stock Options Fully Vested, Or Expected To Vest (detail)
Principal Industry
Principal Industry - Additional Information (detail)
Property And Equipment, Estimated Useful Lives (detail)
Provision (benefit) For Income Taxes (detail)
Purchase Price Allocated To Assets Acquired And Liabilities Assumed (detail)
Quarterly Financial Data (detail)
Reconciliation For Significant Differences In Tax At Statutory And Effective Rates (detail)
Reconciliation Of Weighted Average Shares Used In Computation Of Basic And Diluted Earnings Per Share (detail)
Related Party Transactions
Related Party Transactions - Additional Information (detail)
Schedule Ii-valuation And Qualifying Accounts
Schedule Of Minimum Annual Lease Payments (detail)
Selected Quarterly Financial Data (unaudited)
Selected Quarterly Financial Data (unaudited) (tables)
Selected Quarterly Financial Data - Additional Information (detail)
Share-based Payments
Share-based Payments (tables)
Share-based Payments - Additional Information (detail)
Stock Option Activity (detail)
Stock Options Outstanding And Exercisable (detail)
Summary Of Restricted Stock Award Activity (detail)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (policies)
Summary Of Significant Accounting Policies (tables)
Summary Of Significant Accounting Policies - Additional Information (detail)
Supplemental Information To Consolidated Statements Of Cash Flows
Supplemental Information To Consolidated Statements Of Cash Flows - Additional Information (detail)
Total Share-based Compensation Expense And Related Tax Benefits Recognized (detail)
Valuation And Qualifying Accounts (detail)
Ticker: JAKK
CIK: 1009829
Form Type: 10-K Annual Report
Accession Number: 0001157523-14-001096
Submitted to the SEC: Mon Mar 17 2014 4:42:24 PM EST
Accepted by the SEC: Mon Mar 17 2014
Period: Tuesday, December 31, 2013
Industry: Games Toys And Childrens Vehicles No Dolls And Bicycles

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