Jakks Profit Jumps 65% as Sales Increase
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Jakks Pacific Inc., a Malibu company that designs and markets toys, reported a 65% jump in fourth-quarter profit to $7.3 million, or 30 cents a share, from $4.4 million, or 22 cents, a year earlier. Sales increased 12% to $68.5 million.
For the year ended Dec. 31, Jakks reported net income of $31.3 million, or $1.37 a share, on sales of $310 million. That compared with 2001 profit of $28.2 million, or $1.45, on sales of $284.3 million.
Jakks shares lost 24 cents to close at $12.40 on Nasdaq. The results were released after the markets closed.
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