Toy firm gets popular Sanrio property rights; reveals Q4 and year-end results.
It's been a busy couple of days for US toy company Jakks Pacific, with the firm revealing it has been signed up by Sanrio to produce products based on Hello Kitty, while also reporting its Q4 and year-end financials.
The first wave of products in the Hello Kitty collection - due in the autumn - will include mini figures and a purse play-set with small figures.
The full range will feature figures, play-sets, plush toys, furniture, seasonal products and interactive toys, plus a number of categories related to Jakks' portfolio of girls' activity brands.
Meanwhile, Jakks saw net sales for the fourth quarter fall by six per cent to $269.3 million, compared to $285.1 million in the same period in 2007.
Q4’s net profit fell by 49 per cent to $16.9 million, or 55 cents per share, compared to $33.4 million, or $1.03 per share year-on-year.
Net sales for the full-year rose up slightly by 5.4 per cent to $903.4 million, compared to $857.1 million during the same period in 2007. Net income for the year, however, fell 15 per cent to $76.1 million, or $2.42 per share, from $89 million, or $2.77 per share in 2007.
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