Mattel drops in Q3

Mattel has reported a one per cent drop in fiscal third-quarter profit, due to charges related to product recalls.
Author:
Publish date:
Social count:
0
5_Pocoyo.jpg

Net income for the quarter ended September 30th slipped to $236.8 million (€167 million), or 61 cents per share, from $239 million, or 62 cents per share, in the year-ago period. Latest-quarter results included charges of about $40 million (€28.2 million) related to the company's product recalls.

Sales rose three per cent to $1.84 billion (€1.3 billion) from $1.79 billion a year ago, mainly helped by the weaker dollar.

Analysts surveyed by Thomson Financial had expected profit of 70 cents per share on revenue of $1.91 billion (€1.35 billion).

"Despite the challenges the company faced during the third quarter, the business has performed fairly well, even with some supply chain disruptions that impacted our sales during the quarter," said Bob Eckert, chairman and chief executive (pictured). "US Barbie performance was soft and remains an area of focus, although a good portion of the decline in the quarter was directly related to the supply chain disruptions."

Eckert said international sales have continued to drive growth, while the US was down slightly in the quarter.

Related

5_Pocoyo.jpg

Solid Q3 for Hasbro

The Littlest Pet Shop, Playskool, Transformers and Monopoly have all helped Hasbro push up its revenues for the third quarter of 2006.

5_Pocoyo.jpg

Mixed fortunes for Mattel

Mattel’s fourth-quarter share earnings exceeded analysts’ expectations but profit still dipped two per cent year on year while full year turnover was up and profit down.

5_Pocoyo.jpg

RC2 posts Q3 loss

Firm?s income drops by more than 40 per cent, announces increase and extension of stock repurchase program.

Featured Jobs

Vivid Job Logo 620 x 349

Digital Marketing Executive - Toys & Games

Vivid is Britain’s biggest toy company and the 20 largest in the world. With offices across the globe, they sell an amazing portfolio of toys and games to over 60 countries. Vivid is best known for its association with blockbuster brands and is very excited about future opportunities around the world.

Liberty

UK Sales Agents

Liberty House Toys have been appointed as the exclusive UK distributor for the BiOBUDDi brand, and we are pleased to introduce this new unique, innovative and exciting range of 100% environmentally-friendly toy building blocks. We are seeking experienced sales agents with existing network in the toy retail market.

Gameplan Job Logo 620 x 349

Head of Product Development & Marketing

Our client is a privately owned French toy and games manufacturer which sells through distributors in forty countries. The company develops and sells innovative electronic interactive toys and games for the educational and gaming markets, and also takes suitable licenses. To progress its successful business development a Head of Product Development & Marketing is to to recruited.

HIT Entertainment Job Logo 620 x 349

Licensing Systems Administrator

The Contract System Coordinator is a newly created role to support the deal term entry process into Mattel’s new Contract Management System for its Licensing business. The role will support the Business Teams at the Deal & Amendment phase of the contracting process and act in conjunction with the System Administration team.