JAKK Stock Soars Thanks to Disney Princess Dolls

It topped earnings and sales forecasts

   

JAKK Stock Soars Thanks to Disney Princess Dolls

Day Trading 1851 JAKK Stock Soars Thanks to Disney Princess DollsOn Wednesday, toymaker JAKKS Pacific (JAKK) reported a lower-than-expected quarterly loss, sending JAKK stock jumping about 20% in morning trading.

JAKK stock gained after the company posted a loss from operations of $16.1 million for the fourth quarter. That was far less than the operating loss of $31.21 million in the year-ago period. EPS came in at a loss of 73 cents per share, which was better than the loss of 82 cents per share the Wall Street had expected, RTTNews notes.

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During the quarter, JAKKS said it generated sales of $137.7 million, up from $133.5 million during the prior-year period. That also beat analysts, who had estimated fourth-quarter sales of about $128.8 million.

JAKK stock was bolstered by company projections of full-year earnings between 30 cents and 40 cents per share for 2014. That beat the earnings of 11 cents per share that analysts had expected. JAKKS estimates full year sales of between $633 million and $640 million, which fell short of the sales of $643.72 million that analysts are looking for.

Fourth-quarter sales of Disney Princess dolls and dress-up accessories were cited by JAKKS CEO Stephen Berman as contributing to the company’s improved results. He also highlighted “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,” as helping JAKKS’ results.

JAKK stock closed at $5.90 a share on Tuesday. JAKK stock has dropped about 50% over the past year.


Article printed from InvestorPlace Media, http://investorplace.com/2014/02/jakk-stock-soars-thanks-disney-princess-dolls/.

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