If you read Matt Richey's excellent Take on toy maker Mattel's
Mattel provides incredibly detailed income statement numbers, though I'm sorry to see no cash flow statement on the news release. Looking at the big-picture numbers for the full year, sales rose only 2% year over year, but gross margins strengthened and selling, general, and administrative expenses fell, boosting operating income as a result. International sales powered the top line, rising 5% (or 15% if you include currency effects) as domestic revenues fell 6%. Net income more than doubled to $538 million.
We don't have Q4 results from challenger and Motley Fool Stock Advisor recommendation Hasbro
Despite Hasbro's numbers, Mattel has come a long way since Jill Barad gave up the CEO's duties four years ago. At the time, Mattel investors were unhappy both with the failed acquisition of Learning Co. and a large-scale restructuring meant to save money. But what a difference a change makes: Mattel shares have handily outperformed the S&P 500 over those subsequent four years as the company's operational performance has shown marked improvement.
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Dave Marino-Nachison can be reached via email.