jakks pacific inc (JAKK) Key Developments
JAKKS Pacific, Inc., Creative Designs International, Ltd., Disguise, Inc., Maui, Inc., Moose Mountain Marketing, Inc. and Kids Only, Inc. Enters into Credit Agreement
Jun 16 15
JAKKS Pacific, Inc., Creative Designs International, Ltd., Disguise, Inc., Maui, Inc., Moose Mountain Marketing, Inc. and Kids Only, Inc. entered into a fourth amendment to credit agreement which had the effect of, among other things, extending the maturity date of the credit agreement to March 27, 2019, reducing the applicable interest rates, reducing the unused commitment fee under certain circumstances, requiring to refinance or extend the due date of currently outstanding convertible notes due 2018 to at least September 27, 2019, and permitting to repurchase up to $30 million of common stock and/or convertible notes through open market repurchases or in privately negotiated transactions through March 31, 2016. The foregoing description of the amendment is qualified in its entirety by reference to the fourth amendment to credit agreement. General Electric Capital Corporation as Agent and as a Lender, and the other Lenders signatory hereto. Borrowers, the other Credit Parties party thereto, Agent and the Lenders from time to time party thereto are parties to that certain Credit Agreement dated as of March 27, 2014, as amended by the First Amendment to Credit Agreement dated April 4, 2014, the Second Amendment to Credit Agreement dated June 5, 2014, and the Third Amendment to Credit Agreement and Amendment to Guaranty and Security Agreement dated December 31, 2014. Capitalized terms used in this Agreement and not otherwise defined herein shall have the respective meanings given to them in the Credit Agreement. Borrowers have requested that Agent and Lenders amend certain provisions of the Credit Agreement, and, subject to the satisfaction of the conditions set forth herein, Agent and Lenders are willing to do so on the terms set forth herein. The definitions of "Applicable Margin" and "Stated Maturity Date" are deleted from Section 12.02 of the Credit Agreement, and the following definitions of "Applicable Margin," "Fee Letter" and "Stated Maturity Date" are added to Section 12.02 of the Credit Agreement. Applicable Margin means if a Base Rate Loan, 1.25% per annum and if a LIBOR Rate Loan, 2.25% per annum. Not with standing anything herein to the contrary, Swing Loans may not be LIBOR Rate Loans. Stated Maturity Date means March 27, 2019.
Oasis Management In Talks With JAKKS Pacific To Review Alternatives
Jun 3 15
Oasis Management Company Ltd. is in talks with JAKKS Pacific, Inc. (NasdaqGS:JAKK) management and believes it would be of benefit to engage "more substantively" with management over matters including strategic alternatives such as a possible sale.
JAKKS Pacific, Inc. Announces Unaudited Consolidated Earnings Results for First Quarter Ended March 31, 2015; Affirms Earnings Guidance for the Full Year of 2015
Apr 21 15
JAKKS Pacific, Inc. announced unaudited consolidated earnings results for first quarter ended March 31, 2015. For the quarter, the company reported net sales of $114,201,000 compared to $82,510,000 a year ago. Loss from operations was $4,199,000 compared to $14,924,000 a year ago. Loss before provision for income taxes was $7,154,000 compared to $16,789,000 a year ago. Net loss was $7,581,000 or $0.40 per share compared to $16,305,000 or $0.74 per share a year ago. Adjusted EBITDA was $932,000 compared to $11,612,000 a year ago. Operations provided cash of $38.8 million for the first quarter of 2015 compared to using cash of $11 million in 2014. Capital expenditures were $3.1 million compared to $1.2 million for the first quarter of 2014.
The company affirmed earnings guidance for the full year of 2015, which estimated net sales in the range of approximately $730 million to $740 million, earnings in the range of approximately $0.71 to $0.75 per diluted share and Adjusted EBITDA in the range of approximately $56 million to $58 million. For the full year, the company expects capital expenditures of approximately $12 million. Full year effective tax rate is expected to remain at approximately 15%. The company expects to have positive free cash flow in 2015.
JAKKS Pacific, Inc. Presents at 16th Annual B. Riley & Co. Investor Conference, May-14-2015 10:00 AM
Apr 9 15
JAKKS Pacific, Inc. Presents at 16th Annual B. Riley & Co. Investor Conference, May-14-2015 10:00 AM. Venue: Loews Hollywood Hotel, Los Angeles, California, United States.
JAKKS Pacific, Inc. to Report Q1, 2015 Results on Apr 21, 2015
Apr 8 15
JAKKS Pacific, Inc. announced that they will report Q1, 2015 results at 9:00 AM, Eastern Standard Time on Apr 21, 2015