Mattel, Inc. Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2016
January 25, 2017 at 04:05 pm
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Mattel, Inc. announced unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2016. For the fourth quarter, the company reported net sales of $1,834.4 million against $1,999.7 million a year ago. Operating income was $262.6 million against $294.1 million a year ago. Income before income taxes was $238.9 million against $270.8 million a year ago. Net income was $173.8 million or $0.50 per diluted share against $215.2 million or $0.63 per basic and diluted share a year ago. Adjusted operating income was $269.2 million against $306.3 million a year ago. Adjusted net income per common share was $0.52 against $0.65 a year ago.
For the year, the company reported net sales of $5,456.7 million against $5,702.6 million a year ago. Operating income was $519.2 million against $540.9 million a year ago. Income before income taxes was $409.7 million against $463.9 million a year ago. Net income was $318.0 million or $0.92 per diluted share against $369.4 million or $1.08 per diluted share a year ago. For the year, net cash flows from operating activities were approximately $590 million, a decrease of approximately $145 million versus the prior year, primarily driven by higher working capital usage and lower net income. Adjusted operating income was $560.8 million against $623.6 million a year ago. Adjusted net income per common share was $1.06 against $1.27 a year ago.
Mattel, Inc. is a global toy company and owner of catalogs of children's and family entertainment franchises. The Company's operating segments include North America, International and American Girl. The North America and International segments sell products across its categories, although some products are developed and adapted for particular international markets. The American Girl segment is a direct marketer, retailer, and children's publisher. Its product categories include Dolls; Infant, Toddler, and Preschool; Vehicles, and Action Figures, Building Sets, Games, and Other. Its brands include Barbie, Hot Wheels, Fisher-Price, American Girl, Thomas & Friends, UNO, Masters of the Universe, and MEGA, as well as other intellectual properties that it owns or licenses in partnership with global entertainment companies. Its offerings include film and television content, gaming and digital experiences, music, and live events. Its products are available in more than 150 countries.