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An “excellent beginning” to 2021 has seen net sales at the international toy maker, Jakks Pacific increase 26 per cent for the first quarter of the year, to $83.8 million compared to the $66.6 million of the same period last year.
The results, the company has been quick to point out, mark the highest year over year first quarter sales growth since Q1 2015, with “significant improvement in sales, gross margin, adjusted net income, and adjusted EBITDA.”
The results, stated Jakks Pacific’s chairman and CEO, Stephen Berman, are reflective of the efforts that the company has made to “broaden its product line, reduce its operating costs, and cut interest expense.”
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