Toy maker Mattel, Inc. (MAT) reported a growth in its first-quarter net income to $38.5 million, or $0.11 per share, from last year's $7.8 million, or $0.02 per share. On average, 13 analysts polled by Thomson Reuters expected earnings per share of $0.09 for the quarter. Analysts' estimates typically exclude one-time items.
The firm clocked net sales of $995.6 million, up 7% compared with the prior-year figure of $928.4 million, and beat consensus estimates of $985.79 million. On a regional basis, quarterly gross sales advanced 5% in the North American Region, comprising the U.S., Canada and American Girl, with no impact from changes in currency exchange rates.
In addition, the board declared a second-quarter cash dividend of $0.36 per share, payable on June 14, 2013 to stockholders of record on May 23, 2013. The dividend is the second of four quarterly dividends the company expects to pay this year, reflecting an annualized dividend of $1.44 per share, representing a 16% increase to last year's total dividends.
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