Toy maker JAKKS Pacific Inc. (JAKK) on Thursday reported first-quarter results, with net loss widening from last year as revenue declined and margins weakened.
Revenue for the quarter decreased 6% to $106.7 million from $113.3 million in the same period last year.
The company reported a net loss of $4.3 million, or $0.37 per share, compared with a loss of $2.4 million, or $0.21 per share, a year ago.
Adjusted net loss was $1.9 million, or $0.17 per share, versus an adjusted loss of $0.4 million, or $0.03 per share, in the prior year.
Gross profit declined 9% to $35.6 million, while gross margin fell 100 basis points to 33.4% from the year-ago period.
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