Toy maker Mattel, Inc. (MAT) said Friday that its fourth quarter profit rose 86% from last year, helped by lower costs and slightly higher sales.
The El Segundo, California-based company reported fourth-quarter net income of $328.4 million, or 89 cents per share, compared with $176.4 million, or 49 cents per share, in the year-ago period. Excluding one-time items, adjusted profit was 81 cents per share.
Sales edged slightly higher from last year, to $1.96 billion.
On average, Wall Street analysts expected a much smaller profit of 68 cents per share, on slightly higher revenue of $1.97 billion.
Mattel shares rose 31 cents, or 1.6%, in pre-market trading Friday.
The Bottom Line
MAT has been recommended by experts since Sept.2, when the stock was trading at $17.61. The company has a 3.74% dividend Yield, based on last night's closing stock price of $20.04.
Mattel, Inc. (MAT) is a "recommended" dividend stock, holding a Dividend.com DARS Rating of 3.5 out of 5 stars.
