UPDATE 1-Jakks Pacific Q1 loss narrows

* Q1 loss at $0.19/shr vs loss $0.40/shr a year ago

* Q1 sales at $77.3 mln vs est $74 mln

* Says on track to meet 2010 EPS outlook of $1.10-$1.20

April 22 (Reuters) - Toymaker Jakks Pacific Inc (JAKK.O) posted a narrower first-quarter loss, helped by cost savings and a tax benefit.

The company said net loss for the quarter was $5.2 million, or 19 cents a share, compared with loss of $10.8 million, or 40 cents a share, a year ago.

The company gained from a tax benefit of $4.9 million during the quarter, it said in a statement.

Revenue for the company, which designs and markets toys and consumer products like children's stationery and pet products, fell 29 percent to $77.3 million.

Analysts on average were looking for a loss of 23 cents a share, on revenue of $74 million, according to Thomson Reuters I/B/E/S.

Jakks, whose rivals include Mattel Inc MAT.N and RC2 Corp RCRC.O, sees itself on track to meet its 2010 earnings outlook of $1.10 to $1.20 a share, on net sales of $660 to $670 million.

Analysts on average were expecting earnings of $1.13 on revenue of $671.7 million.

Shares of the Malibu, California-based company closed at $15.13 Wednesday on Nasdaq. (Reporting by Shobhana Chadha in Bangalore; Editing by Maju Samuel)