JAKKS Pacific reported a strong Q4 2021 with a 47% increase in net sales compared to the previous year. The company's performance was driven by top-line growth across various brands and categories, along with margin expansion, despite significant increases in supply-chain costs.
Net sales increased by 47% to $188.0 million compared to $128.3 million last year.
Gross profit reached $50.0 million, the highest Q4 level since 2016.
U.S. toy retail POS at top three accounts increased by 10% versus Q4 2020.
Adjusted net income attributable to common stockholders was $1.3 million, up from an adjusted net loss of $3.6 million in Q4 2020.
The company implemented a price increase for the back half of 2022 to offset higher supply chain costs, and is working through challenges to meet customer orders and ensure shelves are full. They are in constant dialogue with their customers about maximizing 2022 opportunities and within a couple months what they will bringing to market in Spring 2023.
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