JAKKS Pacific, Inc. (NASDAQ:JAKK) Q1 2022 Earnings Conference Call April 28, 2022 5:00 PM ET
Company Participants
Stephen Berman - Chairman and CEO
John Kimble - CFO
Conference Call Participants
Steph Wissink - Jefferies
Garrett Johnson - BMO Capital
Operator
Good afternoon, everyone. Welcome to the JAKKS Pacific First Quarter 2022 Earnings Conference Call with Management, who will review financial results for the first quarter ended March 31st, 2022. 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. Then Mr. Kimble will provide detailed comments regarding JAKKS Pacific's financial and operational results. Mr. Berman will then return with additional comments and some closing remarks prior to opening 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, margins and adjusted EBITDA in 2022 as well as any other forward-looking statements concerning 2022 and beyond are subject to Safe Harbor protection under federal securities 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 subsequently filed with the SEC from time-to-time.
In addition, of today's comments by management will refer to non-GAAP financial measures, such as adjusted EBITDA and adjusted earnings per share. Unless otherwise stated, the most directly comparable GAAP financial metric 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 now like to turn the call over to Stephen Berman. Sir you may--
Stephen Berman
Good afternoon and thank you for joining us as we discuss our latest performance and current plans going forward. It has been an exciting first quarter for JAKKS as we shipped more product than any Q1 since 2008. Our net sales for the quarter were $120.9 million, a 44% increase compared to the prior year.