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JAKKS Pacific Reports Third Quarter 2022 Financial Results

Sales through September 30, 2022 exceeded full-year 2021 sales levels

JAKKS Pacific, Inc. (NASDAQ: JAKK) today reported financial results for the third quarter ended September 30, 2022.

Third Quarter 2022 Overview

  • Net sales were $323.0 million, a year-over-year increase of 36%
    • Toys/Consumer Products were $269.6 million, a year-over-year increase of 56%
    • Costumes were $53.4 million, a year-over-year decrease of 17%
      • Costumes year-to-date are $134.7 million, a 36% increase over 2021
  • Year-to-date net sales were $664.3 million, which exceeded full year 2021 net sales of $621.1 million
  • Gross margin of 28.5%, down 310 basis points vs. Q3 2021
  • Operating income of $53.7 million (16.7% of net sales) in Q3 2022 vs. $36.7 million (15.5% of net sales) in Q3 2021
    • Year-to-date operating income of $76.7 million (11.6% of net sales) vs. $35.8 million (8.3% of net sales) for comparable period in 2021
  • Net income attributable to common stockholders of $30.3 million or $2.96 per diluted share, compared to net income attributable to common stockholders of $36.0 million or $3.97 per diluted share in Q3 2021
  • Adjusted net income attributable to common stockholders (a non-GAAP measure) of $39.0 million or $3.80 per diluted share, compared to adjusted net income attributable to common stockholders of $34.2 million or $3.76 per diluted share in Q3 2021
  • Adjusted EBITDA (a non-GAAP measure) of $59.4 million vs. $41.7 million in Q3 2021

Management Commentary

“We continued to see strong retail sell-thru for our product throughout the third quarter,” said Stephen Berman, CEO of JAKKS Pacific. “Our top three toy accounts in the US sustained point of sale results in the high teens in Q3 as we head into the all-important fourth quarter. By leaning into our heritage as an FOB-first company, we’ve managed to ship more of our product earlier in the year to avoid excessive supply-chain expenses and mitigate out-of-stock risks at retail. As a result, our customers are ready for the holiday season with a great range of product and promotional plans. We are on track to deliver full-year 2022 revenue growth around 20% vs. prior year for the second year in a row, which are exceptional results that the team and I are very proud of.

“In addition to the strength in our toy segment, our costume business is also performing at a very high level. We have already shipped 25% more costumes this year than the amount we shipped in all of 2021. Q3 2022 Disguise costumes sales were down compared to Q3 2021 as Halloween customers ordered product earlier this year. We are on track for our biggest year with Disguise since JAKKS acquired the company in 2008, and we are also excited about that momentum continuing into 2023.

“We have been clear about our desire to reduce our long-term debt and cash interest expense. To that end, based on our strong performance and near-term outlook we decided to make an optional $17.5 million principal pay-down of our term loan this past quarter. This brings our year-to-date principal payments to $29.0 million, or 29% of our balance as of January 1st of this year, and results in a principal balance of $69.5 million.”

Third Quarter 2022 Results

Net sales for the third quarter of 2022 were $323.0 million, up 36% versus $237.0 million last year. The Toys/Consumer Products segment sales were up 56% globally (50% North America; 85% International) and as noted sales of Disguise costumes were down 17% compared to last year (-23% North America; 144% International) as Halloween customers ordered product earlier this year than the traditional seasonality.

Year-to-date Toys/Consumer Products sales were up 58% over the comparable 2021 period. Year-to-date the Costumes segment was up 36% over the comparable 2021 period.

Year-to-date adjusted net income attributable to common stockholders was $57.5 million ($5.68 per diluted share), compared to $22.3 million ($3.15 per diluted share) in the first nine months of 2021. Year-to-date adjusted EBITDA of $88.5 million (13.3% of net sales), was double the $44.2 million (10.2% of net sales) in the comparable 2021 period.

Balance Sheet Highlights

The Company’s cash and cash equivalents (including restricted cash) totaled $76.6 million as of September 30, 2022 compared to $26.7 million as of September 30, 2021, and $45.3 million as of December 31, 2021.

Total debt was $67.7 million net of unamortized discounts and issuance costs, compared to $95.8 million as of September 30, 2021, and $95.5 million as of December 31, 2021. Total debt includes the amount outstanding under the Company's term loan, net of unamortized discounts and issuance costs.

Inventory levels are down from prior quarter but remain elevated, totaling $109.2 million, of which $20.5 million was in-transit to our distribution centers, compared to $123.7 million in total inventory as of June 30, 2022 and $89.8 million in total inventory as of September 30, 2021.

Use of Non-GAAP Financial Information

In addition to the preliminary results reported in accordance with U.S. GAAP included in this release, the Company has provided certain non-GAAP financial information including Adjusted EBITDA which is a non-GAAP metric that excludes various items that are detailed in the financial tables and accompanying footnotes reconciling GAAP to non-GAAP results contained in this release. Management believes that the presentation of these non-GAAP financial measures provides useful information to investors because the information may allow investors to better evaluate ongoing business performance and certain components of the Company’s results. In addition, the Company believes that the presentation of these financial measures enhances an investor’s ability to make period-to-period comparisons of the Company’s operating results. This information should be considered in addition to the results presented in accordance with GAAP, and should not be considered a substitute for the GAAP results. The Company has reconciled the non-GAAP financial information included in this release to the nearest GAAP measures. See the attached “Reconciliation of Non-GAAP Financial Information.” “Total liquidity” is calculated as cash and cash equivalents, plus availability under the Company’s $67.5 million revolving credit facility.

Conference Call Live Webcast

JAKKS Pacific, Inc. invites analysts, investors and media to listen to the teleconference scheduled for 5:00 p.m. ET / 2:00 p.m. PT on October 27, 2022. A live webcast of the call will be available on the “Investor Relations” page of the Company’s website at www.jakks.com/investors. To access the call by phone, please go to this link (Registration Link), and you will be provided with dial in details. To avoid delays, we encourage participants to dial into the conference call fifteen minutes ahead of the scheduled start time. A replay of the webcast will also be available for a limited time at (www.jakks.com/investors).

About JAKKS Pacific, Inc.

JAKKS Pacific, Inc. is a leading designer, manufacturer and marketer of toys and consumer products sold throughout the world, with its headquarters in Santa Monica, California. JAKKS Pacific’s popular proprietary brands include: Creepy Crawlers®, Fly Wheel®, Perfectly Cute®, ReDo Skateboard Co.®, WeeeDo™, Xtreme Power®, Disguise®, Maui®, Moose Mountain®, Kids Only!®, Eyeclops®; a wide range of entertainment-inspired products featuring premier licensed properties; and C’est Moi®, a New Generation of Clean Beauty®. Through JAKKS Cares, the company’s commitment to philanthropy, JAKKS is helping to make a positive impact on the lives of children. Visit us at www.jakks.com and follow us on Instagram (@jakkstoys), Twitter (@jakkstoys) and Facebook (JAKKS Pacific).

Forward Looking Statements

This press release may contain “forward-looking statements” (within the meaning of the Private Securities Litigation Reform Act of 1995) that are based on current expectations, estimates and projections about JAKKS Pacific's business based partly on assumptions made by its management. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such statements due to numerous factors, including, but not limited to, those described above, changes in demand for JAKKS Pacific's products, product mix, the timing of customer orders and deliveries, the impact of competitive products and pricing, or that the Recapitalization transaction or any future transactions will result in future growth or success of JAKKS. The “forward-looking statements” contained herein speak only as of the date on which they are made, and JAKKS undertakes no obligation to update any of them to reflect events or circumstances after the date of this release.

JAKKS Pacific, Inc. and Subsidiaries
Condensed Consolidated Balance Sheets (Unaudited)
 
 

September 30,

 

December 31,

2022

 

2021

 

2021

(In thousands)
Assets
Current assets:
Cash and cash equivalents

$

76,418

 

$

25,897

 

$

44,521

 

Restricted cash

 

178

 

 

808

 

 

811

 

Accounts receivable, net

 

204,856

 

 

209,190

 

 

147,394

 

Inventory

 

109,171

 

 

89,796

 

 

83,954

 

Prepaid expenses and other assets

 

11,124

 

 

12,370

 

 

10,877

 

Total current assets

 

401,747

 

 

338,061

 

 

287,557

 

 
Property and equipment

 

131,918

 

 

120,910

 

 

121,945

 

Less accumulated depreciation and amortization

 

116,558

 

 

108,125

 

 

108,796

 

Property and equipment, net

 

15,360

 

 

12,785

 

 

13,149

 

 
Operating lease right-of-use assets, net

 

22,154

 

 

18,535

 

 

16,950

 

Goodwill

 

35,083

 

 

35,083

 

 

35,083

 

Intangibles and other assets, net

 

2,770

 

 

4,644

 

 

4,308

 

Total assets

$

477,114

 

$

409,108

 

$

357,047

 

 
 
Liabilities, Preferred Stock and Stockholders' Equity
 
Current liabilities:
Accounts payable

$

77,126

 

$

77,690

 

$

50,237

 

Accounts payable - Meisheng (related party)

 

28,301

 

 

27,581

 

 

15,894

 

Accrued expenses

 

74,223

 

 

58,180

 

 

47,071

 

Reserve for sales returns and allowances

 

59,216

 

 

47,691

 

 

46,285

 

Income taxes payable

 

14,084

 

 

635

 

 

1,004

 

Short term operating lease liabilities

 

10,515

 

 

10,407

 

 

10,477

 

Short term debt, net

 

2,475

 

 

1,914

 

 

2,104

 

Total current liabilities

 

265,940

 

 

224,098

 

 

173,072

 

 
Long term operating lease liabilities

 

12,555

 

 

9,947

 

 

8,039

 

Debt, non-current portion, net

 

65,195

 

 

93,896

 

 

93,415

 

Preferred stock derivative liability

 

23,347

 

 

17,075

 

 

21,282

 

Income taxes payable

 

66

 

 

215

 

 

215

 

Deferred income taxes, net

 

53

 

 

123

 

 

51

 

Total liabilities

 

367,156

 

 

345,354

 

 

296,074

 

 
Preferred stock accrued dividends

 

4,128

 

 

2,733

 

 

3,074

 

 
Stockholders' equity:
Common stock, $.001 par value

 

10

 

 

9

 

 

10

 

Additional paid-in capital

 

274,040

 

 

272,568

 

 

272,941

 

Accumulated deficit

 

(149,987

)

 

(200,259

)

 

(203,431

)

Accumulated other comprehensive loss

 

(18,594

)

 

(12,609

)

 

(12,952

)

Total JAKKS Pacific, Inc. stockholders' equity

 

105,469

 

 

59,709

 

 

56,568

 

Non-controlling interests

 

361

 

 

1,312

 

 

1,331

 

Total stockholders' equity

 

105,830

 

 

61,021

 

 

57,899

 

Total liabilities, preferred stock and stockholders' equity

$

477,114

 

$

409,108

 

$

357,047

 

 
 
Supplemental Balance Sheet and Cash Flow Data (Unaudited)

September 30,

Key Balance Sheet Data:

2022

 

2021

 
Accounts receivable days sales outstanding (DSO)

 

58

 

 

81

 

Inventory turnover (DSI)

 

44

 

 

51

 

 
 
Nine Months Ended September 30,
Condensed Cash Flow Data:

2022

2021

(In thousands)
Cash flows provided by (used in) operating activities

$

75,793

 

$

(26,942

)

Cash flows used in investing activities

 

(8,619

)

 

(6,343

)

Cash flows used in financing activities and other

 

(35,910

)

 

(32,703

)

Increase/(decrease) in cash, cash equivalents and restricted cash

$

31,264

 

$

(65,988

)

 
Capital expenditures

$

(8,621

)

$

(6,375

)

JAKKS Pacific, Inc. and Subsidiaries

Condensed Consolidated Statements of Operations (Unaudited)

 
 
Three Months Ended September 30, Nine Months Ended September 30,

2022

2021

Δ (%)

2022

2021

Δ (%)
(In thousands, except per share data) (In thousands, except per share data)
 
Net sales

$

322,998

 

$

236,957

 

36

 

%

$

664,301

 

$

433,152

 

53

 

%

Less: Cost of sales
Cost of goods

 

174,334

 

 

126,095

 

38

 

 

368,242

 

 

231,633

 

59

 

Royalty expense

 

52,868

 

 

32,251

 

64

 

 

106,262

 

 

61,546

 

73

 

Amortization of tools and molds

 

3,885

 

 

3,687

 

5

 

 

7,079

 

 

7,058

 

0

 

Cost of sales

 

231,087

 

 

162,033

 

43

 

 

481,583

 

 

300,237

 

60

 

Gross profit

 

91,911

 

 

74,924

 

23

 

 

182,718

 

 

132,915

 

37

 

Direct selling expenses

 

8,397

 

 

10,729

 

(22

)

 

20,137

 

 

23,817

 

(15

)

General and administrative expenses

 

29,400

 

 

26,846

 

10

 

 

84,067

 

 

71,450

 

18

 

Depreciation and amortization

 

373

 

 

606

 

(38

)

 

1,547

 

 

1,807

 

(14

)

Selling, general and administrative expenses

 

38,170

 

 

38,181

 

(0

)

 

105,751

 

 

97,074

 

9

 

Intangibles impairment

 

-

 

 

-

 

nm

 

300

 

 

-

 

nm

Income from operations

 

53,741

 

 

36,743

 

46

 

 

76,667

 

 

35,841

 

114

 

Other income (expense):
Other income (expense), net

 

251

 

 

129

 

95

 

 

520

 

 

256

 

103

 

Change in fair value of convertible senior notes

 

-

 

 

(3,651

)

(100

)

 

-

 

 

(16,495

)

(100

)

Change in fair value of preferred stock derivative liability

 

(7,449

)

 

(99

)

nm

 

(2,065

)

 

(9,013

)

(77

)

Gain on loan forgiveness

 

-

 

 

6,206

 

(100

)

 

-

 

 

6,206

 

(100

)

Loss on debt extinguishment

 

-

 

 

-

 

-

 

 

-

 

 

(7,351

)

(100

)

Interest income

 

55

 

 

4

 

nm

 

64

 

 

10

 

nm

Interest expense

 

(4,350

)

 

(2,658

)

64

 

 

(8,889

)

 

(11,903

)

(25

)

Income (loss) before provision for income taxes

 

42,248

 

 

36,674

 

15

 

 

66,297

 

 

(2,449

)

nm

Provision for income taxes

 

11,572

 

 

298

 

nm

 

13,323

 

 

286

 

nm

Net income (loss)

 

30,676

 

 

36,376

 

(16

)

 

52,974

 

 

(2,735

)

nm

Net income (loss) attributable to non-controlling interests

 

(17

)

 

42

 

nm

 

(470

)

 

101

 

nm

Net income (loss) attributable to JAKKS Pacific, Inc.

$

30,693

 

$

36,334

 

(16

)

%

$

53,444

 

$

(2,836

)

nm

%
Net income (loss) attributable to common stockholders

$

30,336

 

$

35,998

 

(16

)

%

$

52,390

 

$

(3,829

)

nm

%
Earnings (loss) per share - basic

$

3.13

 

$

4.08

 

$

5.44

 

$

(0.56

)

Shares used in earnings (loss) per share - basic

 

9,695

 

 

8,823

 

 

9,624

 

 

6,820

 

Earnings (loss) per share - diluted

$

2.96

 

$

3.97

 

$

5.18

 

$

(0.56

)

Shares used in earnings (loss) per share - diluted

 

10,260

 

 

9,073

 

 

10,111

 

 

6,820

 

 
 
Three Months Ended September 30, Nine Months Ended September 30,

2022

2021

Δ bps

2022

2021

Δ bps
Fav/(Unfav) Fav/(Unfav)
Net sales

 

100.0

 

%

 

100.0

 

%

-

 

 

100.0

 

%

 

100.0

 

%

-

 

Less: Cost of sales
Cost of goods

 

54.0

 

 

53.2

 

(80

)

 

55.4

 

 

53.4

 

(200

)

Royalty expense

 

16.3

 

 

13.6

 

(270

)

 

16.0

 

 

14.3

 

(170

)

Amortization of tools and molds

 

1.2

 

 

1.6

 

40

 

 

1.1

 

 

1.6

 

50

 

Cost of sales

 

71.5

 

 

68.4

 

(310

)

 

72.5

 

 

69.3

 

(320

)

Gross profit

 

28.5

 

 

31.6

 

(310

)

 

27.5

 

 

30.7

 

(320

)

Direct selling expenses

 

2.6

 

 

4.5

 

190

 

 

3.0

 

 

5.5

 

250

 

General and administrative expenses

 

9.1

 

 

11.3

 

220

 

 

12.7

 

 

16.5

 

380

 

Depreciation and amortization

 

0.1

 

 

0.3

 

20

 

 

0.2

 

 

0.4

 

20

 

Selling, general and administrative expenses

 

11.8

 

 

16.1

 

430

 

 

15.9

 

 

22.4

 

650

 

Intangibles impairment

 

-

 

 

-

 

-

 

 

-

 

 

-

 

-

 

Income from operations

 

16.7

 

 

15.5

 

120

 

 

11.6

 

 

8.3

 

330

 

Other income (expense):
Other income (expense), net

 

0.1

 

 

-

 

 

-

 

 

-

 

Change in fair value of convertible senior notes

 

-

 

 

(1.5

)

 

-

 

 

(3.8

)

Change in fair value of preferred stock derivative liability

 

(2.3

)

 

-

 

 

(0.3

)

 

(2.1

)

Gain on loan forgiveness

 

-

 

 

2.6

 

 

-

 

 

1.4

 

Loss on debt extinguishment

 

-

 

 

-

 

 

-

 

 

(1.7

)

Interest income

 

-

 

 

-

 

 

-

 

 

-

 

Interest expense

 

(1.4

)

 

(1.1

)

 

(1.3

)

 

(2.7

)

Income (loss) before provision for income taxes

 

13.1

 

 

15.5

 

 

10.0

 

 

(0.6

)

Provision for income taxes

 

3.6

 

 

0.1

 

 

2.0

 

 

0.1

 

Net income (loss)

 

9.5

 

 

15.4

 

 

8.0

 

 

(0.7

)

Net income (loss) attributable to non-controlling interests

 

-

 

 

-

 

 

-

 

 

-

 

Net income (loss) attributable to JAKKS Pacific, Inc.

 

9.5

 

%

 

15.4

 

%

 

8.0

 

%

 

(0.7

)

%

Net income (loss) attributable to common stockholders

 

9.4

 

%

 

15.2

 

%

 

7.9

 

%

 

(0.9

)

%

JAKKS Pacific, Inc. and Subsidiaries

Reconciliation of Non-GAAP Financial Information (Unaudited)

Reconciliation of GAAP to Non-GAAP measures:

This press release and accompanying schedules provide certain information regarding Adjusted EBITDA and Adjusted Net Income (Loss), which may be considered non-GAAP financial measures under the rules of the Securities and Exchange Commission. The non-GAAP financial measures included in the press release are reconciled to the corresponding GAAP financial measures below, as required under the rules of the Securities and Exchange Commission regarding the use of non-GAAP financial measures. We define Adjusted EBITDA as income (loss) from operations before depreciation, amortization and adjusted for certain non-recurring and non-cash charges, such as reorganization expenses and restricted stock compensation expense. Net income (loss) is similarly adjusted and tax-effected to arrive at Adjusted Net Income (Loss). Adjusted EBITDA and Adjusted Net Income (Loss) are not recognized financial measures under GAAP, but we believe that they are useful in measuring our operating performance. We believe that the use of the non-GAAP financial measures enhances an overall understanding of the Company’s past financial performance, and provides useful information to the investor by comparing our performance across reporting periods on a consistent basis.

Investors should not consider these measures in isolation or as a substitute for net income, operating income, or any other measure for determining the Company’s operating performance that is calculated in accordance with GAAP. In addition, because these measures are not calculated in accordance with GAAP, they may not necessarily be comparable to similarly titled measures employed by other companies.

Three Months Ended September 30, Nine Months Ended September 30,

2022

2021

Δ ($)

2022

2021

Δ ($)
(In thousands) (In thousands)
EBITDA and Adjusted EBITDA
Net income (loss)

$

30,676

 

$

36,376

 

$

(5,700

)

$

52,974

 

$

(2,735

)

$

55,709

 

Interest expense

 

4,350

 

 

2,658

 

 

1,692

 

 

8,889

 

 

11,903

 

 

(3,014

)

Interest income

 

(55

)

 

(4

)

 

(51

)

 

(64

)

 

(10

)

 

(54

)

Provision for income taxes

 

11,572

 

 

298

 

 

11,274

 

 

13,323

 

 

286

 

 

13,037

 

Depreciation and amortization

 

4,258

 

 

4,293

 

 

(35

)

 

8,626

 

 

8,865

 

 

(239

)

EBITDA

 

50,801

 

 

43,621

 

 

7,180

 

 

83,748

 

 

18,309

 

 

65,439

 

Adjustments:
Other (income) expense, net

 

(251

)

 

(129

)

 

(122

)

 

(520

)

 

(256

)

 

(264

)

Restricted stock compensation expense

 

1,411

 

 

615

 

 

796

 

 

3,436

 

 

1,380

 

 

2,056

 

Change in fair value of preferred stock derivative liability

 

7,449

 

 

99

 

 

7,350

 

 

2,065

 

 

9,013

 

 

(6,948

)

Change in fair value of convertible senior notes

 

-

 

 

3,651

 

 

(3,651

)

 

-

 

 

16,495

 

 

(16,495

)

Employee Retention Credit/Gov't Employment Support

 

-

 

 

-

 

 

-

 

 

(249

)

 

(1,900

)

 

1,651

 

Gain on loan forgiveness

 

-

 

 

(6,206

)

 

6,206

 

 

-

 

 

(6,206

)

 

6,206

 

Loss on debt extinguishment

 

-

 

 

-

 

 

-

 

 

-

 

 

7,351

 

 

(7,351

)

Adjusted EBITDA

$

59,410

 

$

41,651

 

$

17,759

 

$

88,480

 

$

44,186

 

$

44,294

 

Adjusted EBITDA/Net sales %

 

18.4

 

%

 

17.6

 

%

80 bps

 

13.3

 

%

 

10.2

 

%

310 bps
 
 
Trailing Twelve Months Ended September 30,

2022

2021

Δ ($)
(In thousands)
TTM EBITDA and TTM Adjusted EBITDA
TTM Net income (loss)

$

49,821

 

$

(14,044

)

$

63,865

 

Interest expense

 

11,090

 

 

16,809

 

 

(5,719

)

Interest income

 

(67

)

 

(12

)

 

(55

)

Provision for income taxes

 

13,263

 

 

740

 

 

12,523

 

Depreciation and amortization

 

10,012

 

 

10,809

 

 

(797

)

TTM EBITDA

 

84,119

 

 

14,302

 

 

69,817

 

Adjustments:
Other (income) expense, net

 

(710

)

 

(391

)

 

(319

)

Restricted stock compensation expense

 

4,149

 

 

2,177

 

 

1,972

 

Change in fair value of convertible senior notes

 

(76

)

 

21,517

 

 

(21,593

)

Change in fair value of preferred stock derivative liability

 

6,272

 

 

11,204

 

 

(4,932

)

Employee Retention Credit/Gov't Employment Support

 

(249

)

 

(1,900

)

 

1,651

 

Gain on loan forgiveness

 

-

 

 

(6,206

)

 

6,206

 

Loss on debt extinguishment

 

-

 

 

7,351

 

 

(7,351

)

TTM Adjusted EBITDA

$

93,505

 

 

48,054

 

$

45,451

 

TTM Adjusted EBITDA/TTM Net sales %

 

11.0

 

%

 

8.6

 

%

240 bps
 
 
Three Months Ended September 30, Nine Months Ended September 30,

2022

2021

Δ ($)

2022

2021

Δ ($)
(In thousands, except per share data) (In thousands, except per share data)
Adjusted net income (loss) attributable to common stockholders
Net income (loss) attributable to common stockholders

$

30,336

 

$

35,998

 

$

(5,662

)

$

52,390

 

$

(3,829

)

$

56,219

 

Restricted stock compensation expense

 

1,411

 

 

615

 

 

796

 

 

3,436

 

 

1,380

 

 

2,056

 

Change in fair value of preferred stock derivative liability

 

7,449

 

 

99

 

 

7,350

 

 

2,065

 

 

9,013

 

 

(6,948

)

Change in fair value of convertible senior notes

 

-

 

 

3,651

 

 

(3,651

)

 

-

 

 

16,495

 

 

(16,495

)

Loss on debt extinguishment

 

-

 

 

-

 

 

-

 

 

-

 

 

7,351

 

 

(7,351

)

Gain on loan forgiveness

 

-

 

 

(6,206

)

 

6,206

 

 

-

 

 

(6,206

)

 

6,206

 

Employee Retention Credit/Gov't Employment Support

 

-

 

 

-

 

 

-

 

 

(249

)

 

(1,900

)

 

1,651

 

2021 BSP Term Loan prepayment penalty

 

525

 

 

-

 

 

525

 

 

525

 

 

-

 

 

525

 

Tax impact of additional charges

 

(697

)

 

-

 

 

(697

)

 

(697

)

 

-

 

 

(697

)

Adjusted net income attributable to common stockholders

$

39,024

 

$

34,157

 

$

4,867

 

$

57,470

 

$

22,304

 

$

35,166

 

Adjusted earnings per share - basic

$

4.03

 

$

3.87

 

$

0.15

 

$

5.97

 

$

3.27

 

$

2.70

 

Shares used in adjusted earnings per share - basic

 

9,695

 

 

8,823

 

 

872

 

 

9,624

 

 

6,820

 

 

2,804

 

Adjusted earnings per share - diluted

$

3.80

 

$

3.76

 

$

0.04

 

$

5.68

 

$

3.15

 

$

2.53

 

Shares used in adjusted earnings per share - diluted

 

10,260

 

 

9,073

 

 

1,187

 

 

10,111

 

 

7,083

 

 

3,028

 

JAKKS Pacific, Inc. and Subsidiaries
Net Sales by Division and Geographic Region
 
 
 
(In thousands) QTD Q3 (In thousands) YTD Q3
 
Divisions

2022

 

2021

 

2020

% Change

2022 v 2021
% Change

2021 v 2020
Divisions

2022

 

2021

 

2020

% Change

2022 v 2021
% Change

2021 v 2020
Toys/Consumer Products

$

269,607

$

172,952

$

187,309

55.9

%

-7.7

%

Toys/Consumer Products

$

529,590

$

334,365

$

306,088

58.4

%

9.2

%

Dolls, Role-Play/Dress Up

 

190,452

 

112,050

 

129,289

70.0

%

-13.3

%

Dolls, Role-Play/Dress Up

 

354,644

 

206,483

 

202,184

71.8

%

2.1

%

Action Play & Collectibles

 

65,752

 

37,587

 

33,598

74.9

%

11.9

%

Action Play & Collectibles

 

134,620

 

73,614

 

53,951

82.9

%

36.4

%

Outdoor/Seasonal Toys

 

13,403

 

23,315

 

24,422

-42.5

%

-4.5

%

Outdoor/Seasonal Toys

 

40,326

 

54,268

 

49,953

-25.7

%

8.6

%

Costumes

 

53,391

 

64,005

 

54,981

-16.6

%

16.4

%

Costumes

 

134,711

 

98,787

 

81,517

36.4

%

21.2

%

Total

$

322,998

$

236,957

$

242,290

36.3

%

-2.2

%

Total

$

664,301

$

433,152

$

387,605

53.4

%

11.8

%

 
 
 
(In thousands) QTD Q3 (In thousands) YTD Q3
 
Regions

2022

 

2021

 

2020

% Change

2022 v 2021
% Change

2021 v 2020
Regions

2022

 

2021

 

2020

% Change

2022 v 2021
% Change

2021 v 2020
United States

$

253,854

$

199,136

$

202,303

27.5

%

-1.6

%

United States

$

543,388

$

363,317

$

320,998

49.6

%

13.2

%

Europe

 

38,075

 

20,836

 

21,045

82.7

%

-1.0

%

Europe

 

65,911

 

38,103

 

34,424

73.0

%

10.7

%

Canada

 

12,804

 

8,094

 

9,523

58.2

%

-15.0

%

Canada

 

21,720

 

12,403

 

14,555

75.1

%

-14.8

%

Latin America

 

9,504

 

4,503

 

4,504

111.1

%

0.0

%

Latin America

 

15,712

 

8,123

 

6,586

93.4

%

23.3

%

Asia

 

4,294

 

2,635

 

2,744

63.0

%

-4.0

%

Asia

 

8,733

 

6,214

 

5,976

40.5

%

4.0

%

Australia & New Zealand

 

3,941

 

1,490

 

1,936

164.5

%

-23.0

%

Australia & New Zealand

 

7,014

 

3,927

 

4,269

78.6

%

-8.0

%

Middle East & Africa

 

526

 

263

 

235

100.0

%

11.9

%

Middle East & Africa

 

1,823

 

1,065

 

797

71.2

%

33.6

%

Total

$

322,998

$

236,957

$

242,290

36.3

%

-2.2

%

Total

$

664,301

$

433,152

$

387,605

53.4

%

11.8

%

 
 
(In thousands) QTD Q3 (In thousands) YTD Q3
 
Regions

2022

 

2021

 

2020

% Change

2022 v 2021
% Change

2021 v 2020
Regions

2022

 

2021

 

2020

% Change

2022 v 2021
% Change

2021 v 2020
North America

$

266,658

$

207,230

$

211,826

28.7

%

-2.2

%

North America

$

565,108

$

375,720

$

335,553

50.4

%

12.0

%

International

 

56,340

 

29,727

 

30,464

89.5

%

-2.4

%

International

 

99,193

 

57,432

 

52,052

72.7

%

10.3

%

Total

$

322,998

$

236,957

$

242,290

36.3

%

-2.2

%

Total

$

664,301

$

433,152

$

387,605

53.4

%

11.8

%

 

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