Toy maker Jakks’ earnings up 48%
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From Times Wire Services
Toy maker Jakks Pacific Inc. said its fourth-quarter profit climbed 48% because of strong sales of Disney toys, action figures and electronic and video games.
Net income increased to $34.4 million, or $1.06 a share, from $23.2 million, or 73 cents, a year earlier, the Malibu-based company said. Revenue grew 20% to $285.1 million.
Analysts polled by Thomson Financial expected a profit of 74 cents a share on revenue of $246.8 million.
Shares closed up $1.15, or 4.3%, at $28.
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