Jakks Pacific 1Q profit plunges on legal and other costs

Net income fell to $877,000, or 3 cents per share, from $3.2 million, or 12 cents per share, a year earlier.

Revenue rose 5.5 percent to $130.9 million, from $124.1 million driven by sales of Hannah Montana toys, action figures and Plug It In & Play electronic products.

Litigation costs rose to $2.6 million from $600,000, and product testing costs climbed to $800,000 from $200,000, compared with the 2007 first quarter.

The company also reported $200,000 in restructuring charges in the period.

Analysts expected profit of 19 cents per share on revenue of $137.5 million, on average, according to a Thomson Financial poll.