Last Thursday, Mattel Inc. reported third quarter financial results, including net income of $331.8 million for the quarter, or $0.97 per share. This includes a negative impact of $0.05 per share from Mega Brands integration costs and a tax benefit of $0.04 per share. This compares 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.
For the quarter, net sales were $2.02 billion, down 8 percent compared to $2.21 billion last year, while on a regional basis, third quarter gross sales decreased 7 percent in the North American region. For the international region, gross sales decreased 7 percent, including an unfavorable impact of currency exchange rates of 1 percentage point.
On an individual brand basis, worldwide gross sales for Mattel Girls & Boys Brands were $1.32 billion for the third quarter, down 11 percent versus the prior year. Worldwide gross sales for the Barbie brand were down 21 percent, while worldwide gross sales for other Girls brands were up 1 percent, primarily due to Disney Princess and Ever After High, and partially offset by Monster High. Worldwide gross sales for Mattel’s Entertainment business, which includes Radica Games, were down 23 percent.
Third quarter worldwide gross sales for Fisher-Price brands, which includes the Fisher-Price Core, Fisher-Price Friends, and Power Wheels brands, were $663.4 million, down 16 percent versus the prior year.
Editor’s note: When this article was first posted on Oct. 20, 2014, at 11:21 a.m., we stated that Mattel Inc. reported its third quarter results today. Mattel Inc. reported its third quarter results last Thursday. The Toy Book regrets the error.