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Mattel, Inc. Message Board

  • bluecheese4u bluecheese4u Oct 16, 2012 7:39 AM Flag

    MATTEL REPORTS THIRD QUARTER 2012 FINANCIAL RESULTS AND DECLARES FOURTH QUARTER DIVIDEND

    MATTEL REPORTS THIRD QUARTER 2012 FINANCIAL RESULTS AND DECLARES FOURTH QUARTER DIVIDEND

    Third Quarter Highlights
    Worldwide net sales up 4%;
    North American1 gross sales up 6% and International gross sales up 2%;
    Worldwide gross sales by core brands: Barbie® down 4%; Hot Wheels® flat; Fisher-Price® up
    6% and American Girl® up 16%;
    Gross margin increased 590 basis points of net sales; SG&A increased 200 basis points of
    net sales;
    Operating income of $487.4 million compared to operating income of $397.6 million in the
    third quarter of 2011; and
    Earnings per share of $1.04 vs. prior year earnings per share of $0.86.
    Capital Deployment
    Board declared 2012 fourth quarter cash dividend of $0.31 per share, reflecting an
    annualized dividend of $1.24 per share; and
    The Company repurchased 139,000 shares of its common stock during the third quarter at
    a cost of approximately $5 million.

    EL SEGUNDO, Calif., October 16, 2012 – Mattel, Inc. (NASDAQ: MAT) today reported 2012
    third quarter financial results. For the quarter, the Company reported net income of $365.9
    million, or $1.04 per share, compared to last year’s third quarter net income of $300.8
    million, or $0.86 per share.
    “We are pleased with our performance in the third quarter as it represents another quarter
    of building momentum in the marketplace through share gains and strong shipments across
    our portfolio of brands and countries,” said Bryan G. Stockton, Mattel chief executive
    officer. “That said, with the holidays still in front of us, we remain focused on executing our
    business and driving retail sales in the all-important holiday season.”

    Financial Overview
    For the quarter, net sales were $2.08 billion, up 4%, including an unfavorable change in
    currency exchange rates of 3 percentage points. On a regional basis, third quarter gross
    sales increased 6% in the North American region, which consists of the U.S., Canada and
    American Girl, with no impact from changes in currency exchange rates. For the
    International region, gross sales increased 2%, including an unfavorable impact of currency
    exchange rates of 9 percentage points. Operating income for the quarter was $487.4
    million, compared to prior year’s operating income for the quarter of $397.6 million.
    The Company’s debt-to-total-capital ratio was 36.3%. For the first nine months of the year,
    the Company’s cash and equivalents declined by approximately $1.09 billion, compared
    with a decline of approximately $1.03 billion during the same time period last year.
    For the first nine months of the year, cash flows used for operating activities were
    approximately $101 million, a decrease of $221 million compared to approximately $322
    million of cash flows used for operating activities in the same period of 2011. The decrease
    is primarily due to higher net income and lower working capital usage. Cash flows used for
    investing activities were approximately $833 million, an increase of $714 million, compared
    to approximately $119 million in 2011, driven primarily by the acquisition of HIT
    Entertainment. Cash flows used for financing and other activities were approximately $153
    million, a decrease of $433 million, compared to approximately $586 million in 2011,
    primarily due to lower share repurchases and 2011 repayments of long-term debt.
    Capital Deployment
    The Company announced today that its Board of Directors declared a fourth quarter cash
    dividend of $0.31 per share on the Company's common stock. The dividend will be payable
    on December 14, 2012, to stockholders of record on November 28, 2012. The dividend is
    the final of four quarterly dividends the Company will have paid this year, reflecting an
    annualized dividend of $1.24 per share, which represents a 35% increase to last year’s total
    dividends. During the third quarter of 2012, the Company repurchased 139,000 shares of its
    common stock at a cost of approximately $5 million.

    Sales by Brand
    Mattel Girls and Boys Brands
    For the third quarter, worldwide gross sales for Mattel Girls & Boys Brands were $1.37
    billion, up 3% versus the prior year. Worldwide gross sales for the Barbie brand were down
    4%. Worldwide gross sales for Other Girls Brands were up 57%, primarily driven by Monster
    High®. Worldwide gross sales for the Wheels category, which includes the Hot Wheels,
    Matchbox® and Tyco R/C® brands, were down 1%, primarily driven by Matchbox. Worldwide
    gross sales for the Entertainment business, which also includes Radica® and Games, were
    down 18%, primarily driven by decreases in the CARS 2® movie property.
    Fisher-Price Brands
    Third quarter worldwide gross sales for Fisher-Price Brands, which includes the Fisher-Price
    Core, Fisher-Price Friends and Power Wheels® brands, were $790.4 million, or up 6% versus
    the prior year, driven by strength in Fisher-Price Friends with the addition of the HIT
    Entertainment portfolio and Disney's Jake and the Never Land Pirates property.
    American Girl Brands
    Third quarter gross sales for American Girl Brands, which offers American Girl branded
    products directly to consumers, were $102.0 million, up 16% versus the prior year, primarily
    driven by strong sales of McKenna™, the 2012 Girl of the Year, and the expansion of retail
    locations.
    Live Webcast
    Mattel will webcast its 2012 third quarter financial results conference call at 8:30 a.m.
    Eastern time today

    url at talkstock

 
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