Jakks Pacific posts lower profit level
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From Times Wire Services
Toy maker Jakks Pacific Inc., hurt by litigation and product testing costs, reported lower quarterly profit, sending its shares down 8%.
First-quarter profit fell to $877,000, or 3 cents a share, from $3.2 million, or 12 cents a share, a year earlier. Sales rose 5.5% to $130.9 million.
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