Jakks Pacific Shares Fall on Results, Outlook
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From Reuters
Toy maker Jakks Pacific Inc. said quarterly net income fell 14%, hurt by taxes on the repatriation of foreign earnings, and forecast disappointing earnings for the current period.
The results and outlook sent Jakks shares down more than 6% to $22.63.
Jakks said fourth-quarter earnings fell to $9 million, or 30 cents a share, from $10.5 million, or 35 cents, a year earlier. Revenue fell to $166.3 million from $184.8 million.
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