Mattel Announces Q4, Full Year Result & Completes Acquisition of HIT Entertainment

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Mattel has announced its forth quarter and full year results. For the full- year net sales in the company rose by 7%. Its major brands performed well during 2011, including: Barbie up 12%; Hot Wheels up 6%; American Girl up 5% and Fisher-Price toys grew by 2%.

Shareholders will enjoy an increased dividend; the world’s largest toy maker’s share price rose on the news.

It has also been announced that the acquisition of HIT Entertainment (from a consortium of funds led by Apax Partners) in a $680 million cash deal has been completed. Details of Mattel’s proposal were first released in late-October 2011.

HIT Entertainment owns of a number of famous children’s intellectual property brands: including Thomas (the Tank Engine) & Friends, Barney, Bob the Builder, Fireman Sam and Angelina Ballerina.

Q4 Highlights

  • Total worldwide net sales up 1% on prior year
  • Domestic gross sales down 2%
  • International gross sales up 5%
  • Barbie up 6%
  • Hot Wheels up 11%
  • Fisher‐Price toys down 3%
  • American Girl up 4%
  • Operating income was $497.5 million (up from $428.6 million in Q4 2010)
  • Earnings per share of $1.07 vs. prior year of $0.89

Full‐Year Highlights

  • Total worldwide net sales up 7% on prior year
  • Domestic gross sales up 3%
  • International gross sales up 12%
  • Barbie up 12%
  • Hot Wheels up 6%
  • Core Fisher‐Price up 2%
  • American Girl up 5%
  • Operating income was $1.04 billion (up from $901.9 million in 2010)
  • Earnings per share of $2.18 vs. prior year of $1.86 (includes tax benefit of $0.05 per share)

Dividend

Q1 2012 cash dividend declared at $0.31 per share, based on an annual dividend of $1.24 per share (a 35% increase on last year’s total dividends).

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