JAKKS Pacific Reports Fourth Quarter and Full Year 2019 Financial Results

About this update from Jakks Pacific, Inc.

[{"type":"text","content":" SANTA MONICA, Calif.--(BUSINESS WIRE)--\nJAKKS Pacific, Inc. [NASDAQ: JAKK] today reported financial results for the fourth quarter and full-year ended December 31, 2019.\n\n\nFourth Quarter 2019 Overview vs. Same Period Last Year:\n\n\n\nNet 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.\n\n\nGross margin was 30.4%, compared to 30.6% in Q4 of last year.\n\n\nNet 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.\n\n\nAdjusted 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.”\n\n\nAdjusted 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.”\n\n\n\nFiscal 2019 Overview vs. Same Period Last Year:\n\n\n\nNet 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.\n\n\nGross margin was 26.6%, compared to 27.4% in 2018.\n\n\nNet 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.\n\n\nAdjusted 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.”\n\n\nAdjusted net loss attributable to common stockhol...

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