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JAKKS Pacific, Inc. Message Board

  • palosparkflash palosparkflash Sep 28, 2012 4:59 PM Flag

    Friday AH news announcements rarely good

    JAKK tried to sneak this past during AH. They thought no one would notice....

    JAKKS Pacific, Inc. (JAKK) today lowered its guidance for 2012 as a result of disappointing domestic product sales and a slow-down in product orders, coupled with higher expenses, including marketing and advertising expense commitments and minimum license royalty guarantees. The Company currently anticipates net sales for the full year of approximately $690 million to $700 million, with revised non-GAAP earnings per share in the range of approximately $0.68 to $0.74, excluding non-recurring legal and financial advisory charges of $0.19 per share. In addition, if the Company does not achieve non-GAAP earnings of at least $0.74 per share, the Company will be required to take a one-time non-cash charge of $82 million, or $3.45 per share, for the full impairment of its domestic deferred tax assets. The revised guidance represents a reduction from the Company’s previously anticipated full year net sales of approximately $720 million to $728 million and diluted earnings per share in the range of approximately $1.04 to $1.08, excluding the financial and legal advisory fees. The Company’s guidance with respect to diluted earnings per share is a non-GAAP financial measure, due to the exclusion of such one-time charges. On a GAAP basis, the Company anticipates diluted earnings/loss per share for the full fiscal year ending December 31, 2012 to be in the range of a loss of $2.77 (taking into account such non-recurring charges) to earnings of $0.74.

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