Mattel registers $7.8 million profit in the first quarter; 53% less than the last year figure
Tuesday, April 17th, 2012 2:38:36 by Fahad Zafar
Mattel registers $7.8 million profit in the first quarter; 53% less than the last year figure
The U.S. toy company Mattel announced today that the first quarter earned $7.8 million, 53% lower YOY, following the decrease in sales of the Barbie doll and the cost of buying the company HIT Entertainment. Mattel and recorded a slight gain of 2 cents per
share, 5 cents a share less than the same period of 2011, when the company posted a profit of $ 16.6 million. The largest toymaker in the world by revenue entered until March 31, 2012 a total of 928.4 million dollars, 2% less than in the first three months
of the previous year.
Mattel attributed the lower earnings growth to 6% drop in worldwide sales of Barbie doll for girls and other flagship products such as miniature cars Hot Weels series. The most lucrative franchise remains firm Monster High, released in 2010 and based on
the adventures of the children of monsters like Frankenstein, "Dracula" and the Wolfman.
Another factor in the accounts the cost of acquiring $ 680 million manufacturer of toys for preschoolers HIT Entertainment, responsible for Thomas & Friends, Bob the Builder and Angelina Ballerina, among other brands. The CEO of the company, Bryan Stockton,
said in a statement that "the results are developed more or less as they had anticipated," but acknowledged that "we have work to do in certain areas as we prepare for the holiday season."
The effects of financial crunch are still having their after affects year after another. Companies are struggling to sustain any kind of consistency in their figures. The fluctuation in the prices of several products/inputs is making it very difficult for
the forecast analysts to predict future with some accuracy. It is high time that people stand up to this hyper inflation and upper management corruption to save their future.
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Posted by Fahad Zafar
on Apr 17 2012. Filed under Business.
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