Mattel: shares up, despite disappointing fourth-quarter

(CercleFinance.com) - Mattel posted worse-than-expected quarterly profit late on Thursday, on lower sales, although its shares still managed to stay afloat on the New York Stock Exchange after the report.


Mattel, whose biggest brands include Barbie and Fisher-Price, said that fourth-quarter net income fell to 9.2 million dollars, or little above 0 cent a share, from 54.3 million, or three cents a share, a year earlier.

The world's top toymaker said its sales fell by 3% to 1.47 billion dollars in the past quarter, with sales down 3% in North America and flat internationally.

"At first glance, the fourth quarter was solid in the context of a soft backdrop," said analysts at Jefferies.

However, the broker pointed out that the underlying adjusted-EBITDA was about 25% below estimates.

Indeed, reported operating income was 67.6 million dollars, down 38 million dollars, while adjusted operating income was 109.3 million dollars, down 2.2 million dollars.

Mattel's shares were up 1.6% at 14.6 dollars after the report, from an earlier low of 14.3 dollars.

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