Last10K.com

Jakks Pacific Inc (JAKK) SEC Filing 10-Q Quarterly report for the period ending Tuesday, March 31, 2020

SEC Filings

JAKK Quarterly Reports

Jakks Pacific Inc

CIK: 1009829 Ticker: JAKK
Exhibit 99.1


JAKKS Pacific Reports Fourth Quarter and Full Year 2019 Financial Results

SANTA MONICA, Calif.--(BUSINESS WIRE)--February 19, 2020--JAKKS Pacific, Inc. [NASDAQ: JAKK] today reported financial results for the fourth quarter and full-year ended December 31, 2019.

Fourth Quarter 2019 Overview vs. Same Period Last Year:

  • Net sales were $152.5 million, up 15% compared to $132.3 million reported in the comparable period in 2018, boosted by strong sales of Disney Frozen 2 products.
  • Gross margin was 30.4%, compared to 30.6% in Q4 of last year.
  • Net loss attributable to common stockholders was $20.6 million, or $0.70 per basic and diluted share, including non-cash charges of $10.7 million for intangibles impairment and tooling disposal, and the change in fair value of the derivative liability attributable to our preferred stock. This compares to a net loss attributable to common stockholders of $3.2 million, or $0.14 per basic and diluted share, in the fourth quarter of 2018.
  • Adjusted EBITDA (a non-GAAP measure) was $3.3 million, compared to negative $1.6 million in the fourth quarter of 2018. See note below on “Use of Non-GAAP Financial Information.”
  • Adjusted net loss attributable to common stockholders (a non-GAAP measure) was $0.26 per basic and diluted share, an improvement of $0.11. See note below on “Use of Non-GAAP Financial Information.”

Fiscal 2019 Overview vs. Same Period Last Year:

  • Net sales were $598.6 million, up 5% compared to $567.8 million reported in the prior year, boosted by strong sales of Disney Frozen 2 products and increases in sales of Disguise costumes.
  • Gross margin was 26.6%, compared to 27.4% in 2018.
  • Net loss attributable to common stockholders was $56.0 million, or $2.16 per basic and diluted share, including non-cash charges totaling $23.9 million for intangibles impairment and tooling disposal, the change in fair value of the derivative liability attributable to our preferred stock, and the loss on the extinguishment of debt resulting from our recapitalization transaction in Q3 of 2019. This compares to a net loss attributable to common stockholders of $42.4 million, or $1.83 per basic and diluted share in 2018.
  • Adjusted EBITDA (a non-GAAP measure) was $18.9 million, a significant improvement compared to $2.3 million in 2018. See note below on “Use of Non-GAAP Financial Information.”
  • Adjusted net loss attributable to common stockholders (a non-GAAP measure) was $0.73 per basic and diluted share, an improvement of $0.52. See note below on “Use of Non-GAAP Financial Information.”

Management Commentary

JAKKS Chairman and CEO Stephen Berman stated, “We are pleased to report solid improvement in our sales and adjusted EBITDA for the fourth quarter and for the full-year of 2019. Despite significant industry-wide softness in retail toy sales through most of 2019, including the holiday season, we were able to grow our sales, as strong sales of Disney Frozen 2, Disguise® and Nintendo® more than offset the declines of some older products. Our net sales grew 15% in the quarter, continuing the momentum we saw in the third quarter. For the full year, our sales were up 5%, led by the strong performance of several product lines. More importantly, we were able to meaningfully reduce our normal operating expenses, resulting in a significant improvement in adjusted EBITDA for the year.

“We closed out the year on a strong note and have carried momentum into 2020. We remain committed to containing costs and managing our balance sheet prudently. We expect good performance in 2020 driven by expansion within our evergreen categories and new product initiatives, coupled with new licenses as well as current licenses that we see growing in popularity, and additional owned IP launching throughout the year. We expect licenses such as Disney Princess, Frozen 2, Nintendo and others to benefit our 2020 results.”


The following information was filed by Jakks Pacific Inc (JAKK) on Thursday, February 20, 2020 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-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

View differences made from one quarter to another to evaluate Jakks Pacific Inc's financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ)
Sample 10-K Year-over-Year (YoY) Comparison

Compare this 10-Q Quarterly Report to its predecessor by reading our highlights to see what text and tables were  removed  ,   added    and   changed   by Jakks Pacific Inc.

Continue

Assess how Jakks Pacific Inc's management team is paid from their Annual Proxy

Definitive Proxy Statement (Form DEF 14A)
Screenshot example of actual Proxy Statement

Jakks Pacific Inc's Definitive Proxy Statement (Form DEF 14A) filed after their 2020 10-K Annual Report includes:

  • Voting Procedures
  • Board Members
  • Executive Team
  • Salaries, Bonuses, Perks
  • Peers / Competitors

Continue

Tools

Rating

Learn More
Bullish Bearish Neutral
Filter by Sentiment:
All
Positive
Negative
Filter by Category:
All
Financial
M & A
Revenue
Other
Filter by Subcategory:
All
Debt
Expense
Earnings
Product
Cash Flow
Shares
Geography
Other
Inside Jakks Pacific Inc's 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Cover Page
Condensed Consolidated Balance Sheets
Condensed Consolidated Balance Sheets (Parenthetical)
Condensed Consolidated Statements Of Cash Flows
Condensed Consolidated Statements Of Cash Flows (Parenthetical)
Condensed Consolidated Statements Of Operations And Comprehensive Loss
Condensed Consolidated Statements Of Stockholders' Equity (Deficit)
Basis Of Presentation
Basis Of Presentation (Details)
Basis Of Presentation (Policies)
Business Segments, Geographic Data, And Sales By Major Customers
Business Segments, Geographic Data, And Sales By Major Customers (Tables)
Business Segments, Geographic Data, And Sales By Major Customers - Additional Information (Detail)
Business Segments, Geographic Data, And Sales By Major Customers - Information By Geographic Area (Detail)
Business Segments, Geographic Data, And Sales By Major Customers - Information By Segment And Reconciliation To Reported Amounts (Detail)
Business Segments, Geographic Data, And Sales By Major Customers - Net Sales To Major Customers (Detail)
Common Stock And Preferred Stock
Common Stock And Preferred Stock (Tables)
Common Stock And Preferred Stock - Additional Information (Detail)
Common Stock And Preferred Stock - Series A Preferred Stock (Details)
Comprehensive Loss
Comprehensive Loss (Detail)
Comprehensive Loss (Tables)
Credit Facilities
Credit Facilities (Detail)
Debt
Debt (Tables)
Debt - Additional Information (Detail)
Debt - Schedule Of Term Loans (Details)
Debt - Summary Of Convertible Senior Notes (Detail)
Fair Value Measurements
Fair Value Measurements (Tables)
Fair Value Measurements - Financial Instruments Measured On Recurring Basis (Detail)
Fair Value Measurements - Reconciliation Of Level 3 Instruments (Detail)
Goodwill
Goodwill (Detail)
Income Taxes
Income Taxes (Detail)
Intangible Assets Other Than Goodwill
Intangible Assets Other Than Goodwill (Detail)
Intangible Assets Other Than Goodwill (Tables)
Inventory
Inventory (Detail)
Inventory (Tables)
Joint Ventures
Joint Ventures (Detail)
Litigation And Contingencies
Loss Per Share
Loss Per Share (Tables)
Loss Per Share - Additional Information (Detail)
Loss Per Share - Reconciliation Of Weighted Average Shares (Detail)
Revenue Recognition And Reserve For Sales Returns And Allowances
Revenue Recognition And Reserve For Sales Returns And Allowances (Detail)
Share-Based Payments
Share-Based Payments (Tables)
Share-Based Payments - Additional Information (Detail)
Share-Based Payments - Compensation Expense (Detail)
Share-Based Payments - Summary Of Restricted Stock Award Activity (Detail)
Share-Based Payments - Summary Of Restricted Stock Unit Activity (Detail)
Subsequent Event
Subsequent Event (Detail)

Material Contracts, Statements, Certifications & more

Jakks Pacific Inc provided additional information to their SEC Filing as exhibits

Ticker: JAKK
CIK: 1009829
Form Type: 10-Q Quarterly Report
Accession Number: 0001628280-20-007852
Submitted to the SEC: Fri May 15 2020 8:09:50 AM EST
Accepted by the SEC: Fri May 15 2020
Period: Tuesday, March 31, 2020
Industry: Games Toys And Childrens Vehicles No Dolls And Bicycles

External Resources:
Stock Quote
Social Media

Bookmark the Permalink:
https://last10k.com/sec-filings/jakk/0001628280-20-007852.htm