JAKKS Pacific, Inc. (NASDAQ:JAKK) reported fourth-quarter 2019 financial numbers wherein earnings missed the Zacks Consensus Estimate but revenues beat the same. Following this release, the company’s shares decreased nearly 8% on Feb 19.
The company reported adjusted loss of 26 cents per share, wider than the Zacks Consensus Estimate of a loss of 17 cents by 52.9%. However, the figure narrowed from the year-ago loss of 37 cents by 29.7%.
Revenues of $152.5 million beat the consensus mark of $149.9 million by 1.7%. Moreover, the top line increased 15.3% year over year. This uptick can be attributed to strong sales of Disney Frozen 2 and Disguise products.
Operating Highlights
In the reported quarter, gross margin was 30.4%, down 20 basis points (bps) from the prior-year level. Adjusted EBITDA came in at $3.3 million against a negative of $1.6 million reported in the prior-year quarter.
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