UPDATE: Mattel Posts Downbeat Q4 Profit, Lifts Dividend
Mattel (NASDAQ: MAT) reported a drop in its fourth-quarter profit.
Mattel's quarterly profit declined to $306.5 million, or $0.87 per share, from $370.6 milllion, or $1.07 per share, in the year-ago period.
Excluding one-time items, its adjusted net income came in at $1.12 per share. However, analysts were expecting a profit of $1.15 per share.
Its net sales climbed 5% to $2.26 billion. Mattel's board declared a Q1 cash dividend of $0.36 per share, versus $0.31 per share.
Mattel shares closed at $37.63 yesterday.
(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.