=JAKKS Pacific (JAKK) reported earnings on Thur 26 Oct 2017 (b/o)

JAKKS Pacific misses by $0.31, misses on revs; guides FY17 revs in-line

• Reports Q3 (Sep) earnings of $0.53 per share, $0.31 worse thanthe Capital IQ Consensus of $0.84; revenues fell 13.3% year/year to $262.4 mln vs the $294.59 mln Capital IQ Consensus.
• Co issues in-line guidance for FY17, sees FY17 revs of lower than FY16 or lower than $706.6 mln vs. $675.59 mln Capital IQ Consensus Estimate.
• Adjusted EBITDA for the third quarter of 2017 was $38.6 million, compared to Adjusted EBITDA of $42.8 million in 2016.
• JAKKS continues to make steady progress on long-term strategic initiatives, particularly in creating a strong portfolio of owned intellectual properties, entering new categories and broadening geographic reach. With production currently underway and initial distribution partners secured, early shipments of C'est Moi reformulated skincare and cosmetic products will begin in December, which the Company expects will have significantly higher margins than its toy business.
• Outlook "For 2017, as announced on September 20, 2017, the Company expects a GAAP net loss and loss per share for the full year (prior guidance called for higher net income) with positive Adjusted EBITDA on lower net sales compared to 2016.Future growth and profitability are expected through the Company's continuing effort to enter new categories, create a strong portfolio of new and existing licenses and develop owned IP and content in addition to ongoing margin enhancement and operating cost containment initiatives."