Mattel turned in mixed fourth-quarter results after holiday revenue was weighed down by continuing sales declines in its American Girl and Fisher-Price brands.
turned in mixed fourth-quarter results after holiday revenue was weighed down by continuing sales declines in its American Girl and Fisher-Price brands.
The company's stock initially dropped, but now was up about 5% in extended trading, after posting the results. Mattel posted a slight profit in the fourth-quarter, and broke even on a per share basis, down from earnings of $9.6 million, or 3 cents a share, in the year-ago period. Excluding one-time items, the company earned 11 cents a share. Analysts had forecast earnings of 1 cent per share, according to Refinitiv."2019 was an important inflection point in our turnaround," said Chairman and CEO Ynon Kreiz, in a press release. "We stabilized our topline after five consecutive years of revenue decline, continued to significantly improve profitability, and achieved positive operating cash flow and positive free cash flow for the first time in three years.
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