published on January 26, 2017 - 3:25 PM
Written by The Business Journal Staff

(AP) — It was not a happy holiday season for toy maker Mattel.


The El Segundo, California, company on Wednesday reported fourth-quarter results that fell well short of Wall Street expectations and its stock took a big hit in after-hours trading.

CEO Christopher Sinclair cited a “significant U.S. toy category slowdown in the holiday period” among factors weighing on Mattel’s numbers.

Mattel reported fourth-quarter profit of $173.8 million, or 50 cents a share. Earnings, adjusted for restructuring costs, were 52 cents per share.

The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 71 cents per share.

The company reported revenue of $1.83 billion in the period. Six analysts surveyed by Zacks expected $1.98 billion

A year ago, Mattel earned $215.2 million, or 63 cents a share, on revenue of just under $2 billion.

For the year, the company reported profit of $318 million, or 92 cents per share. Revenue was reported as $5.46 billion.

Shares in Mattel Inc. were off $3.36, or nearly11 percent, at $28.20 in extended trading following the release of the earnings report.


e-Newsletter Signup

Our weekly poll

Should California ban all forms of advertising for legal cannabis?

Loading ... Loading ...

Central Valley Biz Blogs

Popup
shares

3/5

Article views

remaining

Sign up icon

To continue website access to

TheBusinessJournal.com

please create a FREE account OR login here.

1/5

Article views

remaining

SKIP THE POP-UPS
For only $59 for one 1-year you will receive the Print edition along with EVERYTHING The Business Journal has to offer digitally, PLUS you will have unlimited 24- hour a day access to view articles at

TheBusinessJournal.com

Use Promo Code

*New Subscribers Only

Digital and Print

XX Days Remaining

until you can view 5 more free articles

Sign up icon

Want access? Subscribe now & save $20 OFF.

Use Promo Code

WEBSUB20

* NEW SUBSCRIBERS ONLY