JAKKS Pacific, Inc. (NASDAQ:JAKK) Q1 2020 Earnings Conference Call - Final Transcript

May 13, 2020 • 05:00 pm ET


JAKKS Pacific, Inc. (NASDAQ:JAKK) Q1 2020 Earnings Conference Call - Final Transcript


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Good afternoon, everyone. Welcome to the JAKKS Pacific First Quarter Earnings Conference Call with management who will review financial results for the quarter ended March 31, 2020. JAKKS issued its earnings press release earlier today. The earnings release and presentation slides for today's call are available on the company's website in the Investors section.

On the call this afternoon are Stephen Berman, Chairman and Chief Executive Officer; and John Kimble, Chief Financial Officer. Mr. Berman will provide an overview of the quarter, along with highlights of product lines and current business trends and a discussion of the impact of COVID-19. Then Mr. Kimble will provide detailed comments regarding JAKKS Pacific financial and operational results. Mr. Berman will then turn -- return with additional comments and some closing remarks prior to opening up the call for questions. [Operator Instructions]

Before we begin, the company would like to point out that any comments made about JAKKS Pacific's future performance, events or circumstances including the estimates of sales and/or adjusted EBITDA in 2020 as well as any other forward-looking statements concerning 2020 and beyond are subject to safe harbor protection under federal security laws. These statements reflect the company's best judgment based on current market trends and conditions today and are subject to certain risks and uncertainties, which could cause actual results to differ materially from those projected in forward-looking statements. For details concerning these and other such risks and uncertainties, you should consult JAKKS' most recent 10-K and 10-Q filings with the SEC as well as the company's other reports, subsequent subsequently filed with the SEC from time to time.

In addition, today's comments by management will refer to non-GAAP financial measures, such as adjusted EBITDA. Unless stated otherwise, the most directly comparable GAAP financial metrics has been reconciled to the associated non-GAAP financial measure within the company's earnings press release issued today or previously. As a reminder, this conference is being recorded.

With that, I would like to turn the call over to Stephen Berman.

Stephen G. Berman

Thank you, and good afternoon everyone, and thank you for joining us today. I want to start by saying that we recognize that everyone in the world is managing through a difficult time, something we've never seen before, and we are doing everything we can to keep our people safe, our business intact and our prospects bright.

We have an incredible team at JAKKS. During this time of tremendous change, our employees have done an incredible job to create opportunities, preserve our resources and keep the company on track. Before COVID-19 was even identified as a pandemic, we have been taking steps to keep our employees safe, our supplies lines open and our business running as smoothly as it can when everything is changing by the hour. Obviously, we're all experiencing fluctuations which bring great uncertainty.

JAKKS Pacific was founded 25 years ago, and I can say that we have never operated in an environment that has changed so rapidly. But I have never been so proud