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Mattel Q4 profit climbs 21.1% YOY

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Mattel Q4 profit climbs 21.1% YOY

Mattel Inc. said its normalized net income for the fourth quarter came to 52 cents per share, compared with the S&P Capital IQ consensus estimate of 61 cents per share.

EPS climbed 20.8% year over year from 43 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $176.9 million, an increase of 21.1% from $146.1 million in the year-earlier period.

The normalized profit margin climbed to 9.1% from 7.3% in the year-earlier period.

Total revenue totaled $2.00 billion, compared with $1.99 billion in the prior-year period, and total operating expenses fell year over year to $1.69 billion from $1.74 billion.

Reported net income increased 45.0% year over year to $214.1 million, or 63 cents per share, from $147.7 million, or 44 cents per share.

For the year, the company's normalized net income totaled $1.01 per share, compared with the S&P Capital IQ consensus normalized EPS estimate of $1.25.

EPS declined 10.8% from $1.13 in the prior year.

Normalized net income was $341.6 million, a decline of 11.1% from $384.3 million in the prior year.

Full-year total revenue fell 5.3% year over year to $5.70 billion from $6.02 billion, and total operating expenses fell year over year to $5.08 billion from $5.34 billion.

The company said reported net income fell 25.7% year over year to $366.9 million, or $1.08 per share, in the full year, from $494.1 million, or $1.45 per share.