Photo by Cybele Werts via Flickr Creative Commons
The boys and girls of Mattel Inc., announced first-quarter earnings on Monday that showed a 53 percent decline for the famous toy company.
The El Segundo-based empire says the figure largely reflects the cost of buying HIT Entertainment, a TV distributor for kid-oriented programming.
An earnings statement reported net income of $7.8 million (or 2 cents per share) compared to the 2011 number of $16.6 million (or 5 cents per share).
Barbie toppled 6 percent, Hot Wheels was driven down 5 percent, Fisher-Price wobbled a flatline, and American Girl climbed 4 percent, according to the report.
Said Mattel Chief Executive Officer Bryan G. Stockton, "The first quarter played out much as we had anticipated," calling out the "negative impact" of purchasing and integrating HIT.
Mattel's Board of Directors also declared today a second-quarter cash dividend of 31 cents per share on its common stock, payable on June 15 to stockholders of record as of May 23.
Image via Facebook
Ken you dig it? A movement called "Beautiful and Bald Barbie" launched a Facebook page just before Christmas in support of kids with cancer.
The group, with already more than 31,000 fans, is petitioning toy-manufacturer Mattel to build a Barbie that's undergone treatment and lost her hair.
The idea was created by friends Rebecca Sypin, a special ed. teacher's aide in Lancaster, Calif., and Jane Bingham, a photographer from New Jersey. Both have been affected by the disease.
We would like to see a Beautiful and Bald Barbie made to help young girls who suffer from hair loss due to cancer treatments, Alopecia or Trichotillomania. Also, for young girls who are having trouble coping with their mother's hair loss from chemo. Many children have some difficulty accepting their mother, sister, aunt, grandparent or friend going from a long haired to a bald.
Accessories such as scarves and hats could be included. This would be a great coping mechanism for young girls dealing with hair loss themselves or a loved one. We would love to see a portion of proceeds go to childhood cancer research and treatment. Let's get Mattell's attention!