8-K

SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

FORM 8-K



Current Report
Pursuant to Section 13 or 15 (d)
of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported):
February 20, 2008 (February 20, 2008)


JAKKS PACIFIC, INC.
(Exact Name of registrant as specified in its charter)

Delaware	0-28104	95-4527222
(State or other jurisdiction of incorporation)	(Commission File Number)	(I.R.S. Employer Identification No.)

22619 Pacific Coast Highway Malibu, California	90265
(Address of principal executive offices)	(Zip Code)

Registrant’s telephone number, including area code: (310) 456-7799

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

⃞ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

⃞ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

⃞ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

⃞ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

JAKKS PACIFIC, INC.

INDEX TO FORM 8-K

FILED WITH THE SECURITIES AND EXCHANGE COMMISSION

February 20, 2008

ITEMS IN FORM 8-K

		Page
Facing Page		1
Item 2.02	Results of Operations and Financial Condition	3
Item 9.01	Financial Statements and Exhibits	3
Signatures		4
Exhibit Index		5

Item 2.02     Results of Operations and Financial Condition.

On February 20, 2008, we issued a press release announcing our results of operations for the quarter and year ended December 31, 2007. A copy of such release is annexed hereto as an exhibit.

Item 9.01     Financial Statements and Exhibits.

(c)      Exhibits

Exhibit Number	Description
99.1*	February 20, 2008 Press Release
*  Filed herewith

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Dated:	February 20, 2008	JAKKS PACIFIC, INC.
		By:	/s/ Jack Friedman
			Jack Friedman
			Chairman and Chief Executive Officer

Exhibit Index

Exhibit Number	Description
99.1*	February 20, 2008 Press Release
*  Filed herewith

EX-99.1

Exhibit 99.1

JAKKS Pacific® Reports Fourth Quarter and Year-End Results for 2007

--- Record Sales and Earnings Achieved in 2007 ---

--- $30 Million Stock Buy-Back Authorized ---

--- Company Projects Continued Growth for 2008 ---

MALIBU, Calif.--(BUSINESS WIRE)--JAKKS Pacific, Inc. (NASDAQ:JAKK), a leading toy and consumer products company, announces results for the Company’s fourth quarter and year ended December 31, 2007.

Fourth quarter 2007 net sales increased 19.6% to $285.1 million, compared to $238.3 million recorded in the comparable period last year. Net income for the fourth quarter increased 48.3% to $34.4 million, or $1.06 per diluted share, compared to $23.2 million, or $0.73 per diluted share reported in the fourth quarter of 2006.

Net sales for the year ended December 31, 2007 increased 12.0% to $857.1 million, compared to $765.4 million during the same period in 2006. Net income for 2007 increased 24.3% to $90.0 million, or $2.80 per diluted share, compared to earnings of $72.4 million, or $2.30 per diluted share for the year ended December 31, 2006.

“We had a more robust fourth quarter than expected, driven by strong sales of our Disney® toys, action figures and Plug It In & Play electronic game products, as well as our video game joint venture. We continue to see strong sell-through in the first quarter of 2008, that we believe is due to a combination of gift card purchases and the popularity of the Disney tween pop star Hannah Montana™," said Jack Friedman, Chairman and Chief Executive Officer, JAKKS Pacific. "We report these earnings from the New York International Toy Fair, where the enthusiastic response to our 2008 line that we heard from retailers at the two recent major toy shows in Dallas and Hong Kong has continued. Based on this response, we anticipate 2008 will be another strong year for JAKKS Pacific.”

JAKKS’ President and Chief Operating Officer, Stephen Berman added, “We are very pleased with our performance in 2007, and have strong momentum in our top licensed and non-licensed brands, which we believe will continue to drive our business this year. We have many new innovative toys based on the Disney hit Hannah Montana including new collectible fashion dolls, role play, electronics products and interactive play sets, as well as many other new products based on other classic and new Disney properties. We are optimistic about the potential for our new EyeClops™ Night Vision™ Goggles and portable, recordable EyeClops BioniCam™, as well as WWE® and Pokémon® action figures, Puppy in My Pocket® and Nickelodeon® toys, and other new electronic product extensions.”

Berman concluded, “Also highlighting our roster are several new initiatives including our new kids gourmet food products led by our Cupcake Maker™, our Spa Factory™ line, toys based on Neopets®, NASCAR®, Discovery Kids®, Nickelodeon SLIME!™ and SpongeBob SquarePants®, and our new Ulti-Motion™ gaming system that combines plug and play and role play accessories with the hugely popular category of wireless motion games. These products and more give us enthusiasm for the rest of this year and beyond.”

Cash flow from operations in 2007 was $87.7 million, and our financial position remains very strong. As of December 31, 2007, our working capital was $356.7 million, including cash and equivalents of $241.3 million. We continue to evaluate potential acquisition opportunities and expect to continue to grow our business by actively pursuing complementary acquisitions and executing on internal growth initiatives, including creating new products and securing new licenses, to provide continued growth for JAKKS Pacific.

In addition, JAKKS’ Board of Directors authorized a stock buy-back program of up to $30 million of the Company’s common stock.

Friedman concluded, “We are confident about our prospects for 2008 and believe we will get through some uncertainties related to cost increases and production issues that are affecting our industry and others who manufacture in China. We are forecasting net sales and net income to each increase a minimum of 4% in 2008.”

Conference Call

JAKKS Pacific will host a conference call on Wednesday, February 20, 2008 at 8 a.m. Eastern where the Company will discuss the 2007 earnings in more detail. You can also listen to the call live via the Internet at www.jakks.com, where the call will also be archived for 30 days. A telephone playback will be available from 9:00 a.m. Eastern on February 20, 2008 through 11:59 p.m. Eastern on March 20, 2008. The playback can be accessed by calling 800-642-1687 or 706-645-9291 for international callers, passcode “33075182.”

About JAKKS Pacific, Inc.

JAKKS Pacific, Inc. (NASDAQ:JAKK) is a multi-brand company that designs and markets a broad range of toys and consumer products. The product categories include: Action Figures, Art Activity Kits, Stationery, Writing Instruments, Performance Kites, Water Toys, Sports Activity Toys, Vehicles, Infant/Pre-School, Plush, Construction Toys, Electronics, Dolls, Dress-Up, Role Play, and Pet Toys and Accessories. The products are sold under various brand names including JAKKS Pacific®, Play Along®, Flying Colors®, Creative Designs International™, Road Champs®, Child Guidance®, Pentech®, Trendmasters®, Toymax®, Funnoodle®, Go Fly a Kite®, Color Workshop®, JAKKS Pets™ and Plug It In & Play TV Games™. JAKKS and THQ Inc. participate in a joint venture that has worldwide rights to publish and market World Wrestling Entertainment video games. For further information, visit www.jakks.com.

This press release may contain forward-looking statements (within the meaning of the Private Securities Litigation Reform Act of 1995) that are based on current expectations, estimates and projections about JAKKS Pacific's business based partly on assumptions made by its management. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such statements due to numerous factors, including, but not limited to, those described above, changes in demand for JAKKS' products, product mix, the timing of customer orders and deliveries, the impact of competitive products and pricing, and difficulties with integrating acquired businesses. The forward-looking statements contained herein speak only as of the date on which they are made, and JAKKS undertakes no obligation to update any of them to reflect events or circumstances after the date of this release.

JAKKS Pacific, Inc. and Subsidiaries
Condensed Consolidated Balance Sheets
			December 31,			December 31,
			2007			2006
			(In thousands)
ASSETS
Current assets:
	Cash and cash equivalents		$	241,250		$	184,489
	Marketable securities			218			210
	Accounts receivable, net			174,451			153,116
	Inventory, net			75,486			76,788
	Deferred income taxes			12,811			10,592
	Prepaid expenses and other current assets			21,733			26,543
		Total current assets		525,949			451,738
Property and equipment				59,480			49,781
Less accumulated depreciation and amortization				38,073			32,898
	Property and equipment, net			21,407			16,883
Deferred income taxes				976			-
Goodwill, net				353,340			337,999
Trademarks & other assets, net				45,768			60,401
Investment in video game joint venture				36,090			14,873
		Total assets	$	983,530		$	881,894
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
	Accounts payable and accrued expenses		$	121,372		$	120,238
	Reserve for sales returns and allowances			26,036			32,589
	Income taxes payable			21,863			18,548
		Total current liabilities		169,271			171,375
Long term debt				98,000			98,000
Other liabilities				6,432			854
Income taxes payable				8,161			-
Deferred income taxes				6,536			2,377
				119,129			101,231
		Total liabilities		288,400			272,606
Stockholders' equity:
	Common stock, $.001 par value			28			28
	Additional paid-in capital			312,127			300,255
	Retained earnings			386,421			312,432
	Accumulated other comprehensive income (loss)			(3,446	)		(3,427	)
				695,130			609,288
		Total liabilities and stockholders' equity	$	983,530		$	881,894

JAKKS Pacific, Inc. and Subsidiaries
Fourth Quarter Earnings Announcement, 2007
Condensed Statements of Income (Unaudited)
			Three Months Ended December 31,						Twelve Months Ended December 31,
			2007			2006			2007			2006
			(In thousands, expect per share data)
Net sales			$	285,085		$	238,311		$	857,085		$	765,386
Less cost of sales
	Cost of goods			139,874			124,419			436,407			393,965
	Royalty expense			33,606			23,756			88,244			70,634
	Amortization of tools and molds			2,808			1,667			8,784			5,993
	Cost of sales			176,288			149,842			533,435			470,592
		Gross profit		108,797			88,469			323,650			294,794
Direct selling expenses				30,365			30,662			71,321			78,794
Selling, general and administrative expenses				41,438			29,854			128,459			105,650
Depreciation and amortization				3,864			5,052			15,872			18,038
		Income from operations		33,130			22,901			107,998			92,312
Other income (expense):
	Profit (loss) from video game joint venture			18,063			12,494			21,180			13,226
	Interest income			1,699			1,400			6,819			4,930
	Interest expense			(1,602	)		(1,133	)		(5,456	)		(4,533	)
	Other expense			-			-			-			-
Income before provision for income taxes				51,290			35,662			130,541			105,935
Provision for income taxes				16,889			12,477			40,550			33,560
Net income			$	34,401		$	23,185		$	89,991		$	72,375
	Earnings per share - diluted		$	1.06		$	0.73		$	2.80		$	2.30
	Shares used in earnings per share - diluted			33,251			32,803			33,149			32,714

CONTACT:
JAKKS Pacific, Inc.
Genna Rosenberg, 310-455-6235
or
Joel Bennett, 310-455-6210