Net sales for 2025 decreased by 17.4% to $570.7 million from $691.0 million in 2024. Net income for 2025 fell by 71.1% to $9.9 million, down from $34.2 million in 2024. Diluted earnings per share decreased to $0.86 in 2025 from $3.14 in 2024. Operating income declined by 64.2% to $14.2 million in 2025 from $39.7 million in 2024. Gross profit margin improved to 32.4% in 2025 from 30.8% in 2024, primarily due to lower inventory obsolescence costs in the Toys/Consumer Products segment. Selling, general and administrative expenses as a percentage of net sales increased to 29.9% in 2025 from 25.1% in 2024, despite a slight absolute decrease in expenses. Cash provided by operating activities significantly decreased to $8.5 million in 2025 from $38.9 million in 2024. The company entered into a new $70.0 million senior secured revolving credit facility with BMO Bank, N.A., maturing in June 2030, replacing a previous facility. Employment agreements for CEO Stephen G. Berman and CFO John L. Kimble were extended to March 31, 2029, including new performance-based Restricted Stock Units tied to stock price targets ($45.00, $52.50, $60.00 Average VWAP). Quarterly cash dividends of $0.25 per common share were paid in 2025, with another declared payable March 30, 2026, after no dividends were paid in 2024.