(Adds details, background, analyst estimates)
NEW YORK, April 21 Mattel Inc MAT.N, the
largest U.S. toy company, posted a quarterly loss on Monday,
hurt by lower sales of its Fisher-Price products, legal
expenses and higher costs.
The maker of Barbie dolls and toys tied to several big
summer films said its first-quarter loss totaled $46.6 million,
or 13 cents a share, compared with a year-earlier profit of $12
million, or 3 cents a share.
Analysts on average were expecting earnings of 1 cent per
Sales fell 2 percent to $919.3 million, below analysts'
estimates of $932.5 million.
Wall Street analysts have said Mattel's margins should be
pressured through the second quarter as the company grapples
with higher testing and legal expenses stemming from last
year's global recalls.
The first quarter is typically a down period for toy
companies as demand falls after the holiday shopping season,
when most of the year's sales are made.
Mattel said gross sales fell 11 percent in the United
States and increased 8 percent internationally during the first
Price increases should help profitability in the second
half of the year, Chief Executive Robert Eckert said in a
Sales are expected to get a much-needed boost during the
second quarter as Mattel rolls out toys tied to potential
summer blockbusters "Speed Racer," "Batman: The Dark Knight"
and "Kung Fu Panda."
(Reporting by Justin Grant; Editing by Lisa Von Ahn)