Mattel Posts Narrower-than Expected Q1 Loss

(RTTNews) - American toy manufacturer Mattel Inc. (MAT) on Thursday posted first-quarter loss of $115.2 million or $0.33 per share, compared to loss of $210.7 million or $0.61 per share in the same period last year. Adjusted loss per share was $0.10 per share, compared to loss of $0.56 per share in the year-ago quarter. On average, 13 analysts polled by Thomson Reuters expected the company to report a loss of $0.35 per share in the quarter. Analysts' estimates usually exclude one-time items.

During the quarter, net sales rose 46 percent to $874.2 million from $594.1 million in the prior-year period, while analysts were looking for revenues of $684.1 million in the quarter.

The company said that worldwide gross billings for dolls were $381 million, up 69 percent from last year, mainly driven by growth in Barbie and American Girl segments.