Mattel misses by $0.01, misses on revs (30.54)
Reports Q3 (Sep) adjusted earnings of $1.01 per share, $0.01 worse than the Capital IQ Consensus Estimate of $1.02; revenues fell 8.4% year/year to $2.02 bln vs the $2.18 bln consensus.
- Co reported 2014 third quarter financial results. For the quarter, the Company reported net income of $331.8 million, or $0.97 per share, which includes a negative impact of $0.05 per share from MEGA Brands integration costs and a tax benefit of $0.04 per share, compared to last year's third quarter net income of $422.8 million, or $1.21 per share, which included a tax benefit of $0.05 per share.
- Worldwide gross sales by core brands: Barbie down 21%; Hot Wheels up 5%; Fisher-Price down 16% and American Girl down 7%.
- Gross margin decreased 330 basis points of net sales, partially due to the acquisition of MEGA Brands.