Mattel: surprise profit in Q4
(CercleFinance.com) - Late on Thursday Mattel unveiled Q4 2018 EPS of four cents, compared to a loss of 82 cents a year ago, while the consensus feared another loss of 14 cents per share.
At 1.52 billion dollars, the toy maker's sales dropped by 5% (-3% excluding FX factors), although its gross margin improved to 46.6%, compared with 30.7% in Q4 2017.
Joseph Euteneuer, CFO of Mattel, said: "Our key financial metrics, including gross margin, operating income, and earnings per share, are all moving in the right direction and our cost savings initiative is ahead of plan entering 2019."
Copyright (c) 2019 CercleFinance.com. All rights reserved.
At 1.52 billion dollars, the toy maker's sales dropped by 5% (-3% excluding FX factors), although its gross margin improved to 46.6%, compared with 30.7% in Q4 2017.
Joseph Euteneuer, CFO of Mattel, said: "Our key financial metrics, including gross margin, operating income, and earnings per share, are all moving in the right direction and our cost savings initiative is ahead of plan entering 2019."
Copyright (c) 2019 CercleFinance.com. All rights reserved.