logo
  Join        Login             Stock Quote

Mattel (MAT) Q4 Earnings Drop 17 Pct, Miss Estimates

 February 01, 2013 07:35 AM
 


(By Balaseshan) Toy maker Mattel Inc. (NASDAQ: MAT) reported a 17% decline in quarterly earnings due to higher costs and expenses despite a 40 basis points rise in gross margins. Results missed Street's expectations.

Earnings for the fourth quarter were $306.5 million or $0.87 per share, down from $370.6 million or $1.07 per share last year. Adjusted earnings per share (EPS) increased 4.7% to $1.12, yet missed market expectations of $1.15.

The El Segundo, California-based company's net sales rose 5% to $2.26 billion, including an unfavorable impact of changes in currency exchange rates of 1 percentage point, yet missed analysts expectations of a 6.50% increase to $2.29 billion.

[Related -Record Sales For Wal-Mart Stores, Inc. (NYSE:WMT) And Three Stocks That Could Benefit]

On a regional basis, gross sales were up 5% in the North American Region, which consists of the U.S., Canada and American Girl, including a favorable impact of currency exchange rates of 1 percentage point. For the International Region, gross sales grew 8%, including an unfavorable impact of currency exchange rates of 2 percentage points.

Brandwise, gross sales for the Barbie declined 4% while Wheels business, which includes the Hot Wheels, Matchbox and Tyco R/C brands, were down 1%. Sales of Fisher-Price rose 6% and American Girl jumped 13%.

Gross profit as percentage of sales improved 40 basis points to 54.3% from 53.9%.

The company declared a first quarter cash dividend of $0.36 per share, payable on March 8 to stockholders of record on Feb. 22.

[Related -Hasbro, Inc. (HAS) Dividend Stock Analysis]

MAT shares ended Thursday's regular session up 1.40% at $37.63. The stock has been trading in the 52-week range between $30.15 and $38.48.

iOnTheMarket Premium
Advertisement

Advertisement


Post Comment -- Login is required to post message
Name:  
Alert for new comments:
Your email:
Your Website:
Title:
Comments:
 

rss feed

Latest Stories

article imageOn Being A Forced Seller in a Panic

No one wants to be a forced seller in a panic. So how does anyone get into that situation?  Two things: bad read on...

article imageECB's Quantitative Easing - QuitE Wrong

The eurozone has been doing fine without the ECB’s read on...

article imageCan You Invest Better Than Warren Buffett

Warren Buffett's investing strategy is simple: find companies worth investing in read on...

article imageMild Rebound In Housing Market

Expectations for a snapback in home construction from the winter lull were dampened somewhat in the latest read on...

Advertisement
Popular Articles

Advertisement
Daily Sector Scan
Partner Center



Fundamental data is provided by Zacks Investment Research, and Commentary, news and Press Releases provided by YellowBrix and Quotemedia.
All information provided "as is" for informational purposes only, not intended for trading purposes or advice. iStockAnalyst.com is not an investment adviser and does not provide, endorse or review any information or data contained herein.
The blog articles are opinions by respective blogger. By using this site you are agreeing to terms and conditions posted on respective bloggers' website.
The postings/comments on the site may or may not be from reliable sources. Neither iStockAnalyst nor any of its independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. You are solely responsible for the investment decisions made by you and the consequences resulting therefrom. By accessing the iStockAnalyst.com site, you agree not to redistribute the information found therein.
The sector scan is based on 15-30 minutes delayed data. The Pattern scan is based on EOD data.