S&P 500 (NYSE:SPY) component Mattel (NASDAQ:MAT) reported its first quarter results. Mattel Inc. designs and manufactures a variety of toys and games for customers and consumers worldwide.
Mattel Earnings Cheat Sheet for the First Quarter
Results: Net income for the toys and games company fell to $16.6 million (5 cents/share) vs. $24.8 million (7 cents/share) YoY. A decline of 33.2% from the year earlier quarter.
Revenue: Rose 8.2% to $951.9 million YoY.
Actual vs. Wall St. Expectations: MAT fell right in step with the street’s estimates or 5 cents/share.
Quoting Management: “Our diverse portfolio of brands and countries has once again allowed us to deliver on our goal of consistent growth,” said Robert A. Eckert, chairman and chief executive officer of Mattel. “Additionally, we are well positioned to improve operating margin and deliver strong cash flow for the year.”
Key Stats: Over the last five quarters, revenue has increased 8.9% on average year over year. The biggest increase came in the second quarter of the last fiscal year, when revenue rose 13.4% from the year earlier quarter.
The company’s cost of sales rose 17.4% from a year earlier. Last quarter, cost of sales was 50.3% of revenue versus 46.3% a year earlier.
Today’s Performance: Shares of MAT were unchanged in after market trading after closing at $25.74. The stock is trading higher at $27.08 per share today: