-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: keymaster@town.hall.org Originator-Key-Asymmetric: MFkwCgYEVQgBAQICAgADSwAwSAJBALeWW4xDV4i7+b6+UyPn5RtObb1cJ7VkACDq pKb9/DClgTKIm08lCfoilvi9Wl4SODbR1+1waHhiGmeZO8OdgLUCAwEAAQ== MIC-Info: RSA-MD5,RSA, KyXFCITfJkWyi8v29ww+1aWbjMbQ1/c5vHrF2PFh7caWT2edA2xlp8Di1UO7DXlg tvb80lbD3So2WxSN9mi41g== 0000063276-94-000053.txt : 19941019 0000063276-94-000053.hdr.sgml : 19941019 ACCESSION NUMBER: 0000063276-94-000053 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19941018 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 19941018 SROS: NYSE SROS: PSE FILER: COMPANY DATA: COMPANY CONFORMED NAME: MATTEL INC /DE/ CENTRAL INDEX KEY: 0000063276 STANDARD INDUSTRIAL CLASSIFICATION: 3944 IRS NUMBER: 951567322 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-05647 FILM NUMBER: 94553874 BUSINESS ADDRESS: STREET 1: 333 CONTINENTAL BLVD CITY: EL SEGUNDO STATE: CA ZIP: 90245 BUSINESS PHONE: 3105244600 8-K 1 THIRD QUARTER 1994 EARNINGS RELEASE SECURITIES AND EXCHANGE COMMISSION Washington, D. C. 20549 FORM 8-K Current Report Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934 Date of Report: October 18, 1994 MATTEL, INC. ------------ (Exact name of registrant as specified in its charter) Delaware 001-05647 95-1567322 - ------------------------------------------------------------------------------ (State or other jurisdiction (Commission (I.R.S. Employer of incorporation) File No.) Identification No.) 333 Continental Boulevard, El Segundo, California 90245-5012 - ------------------------------------------------------------------------------ (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code (310) 252-2000 ---------------------------- N/A - ------------------------------------------------------------------------------ (Former name or former address, if changed since last report) Item 5. Other Events - ------- ------------ Mattel, Inc. hereby incorporates by reference herein its press release dated October 18, 1994, regarding its 1994 third quarter results of operations, a copy of which is included as Exhibit 99.0 attached hereto. Item 7. Financial Statements and Exhibits - ------- --------------------------------- (a) Financial statements of businesses acquired: None (b) Pro forma financial information: None (c) Exhibits: 99.0 Press release dated October 18, 1994. SIGNATURES ---------- Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. MATTEL, INC. Registrant By: /s/ Ned Mansour ----------------------------- Ned Mansour Senior Vice President, Date: October 18, 1994 General Counsel and Secretary ---------------- EX-99.0 2 PRESS RELEASE DATED OCTOBER 18, 1994 FOR IMMEDIATE RELEASE CONTACT: Glenn Bozarth October 18, 1994 Mattel, Inc. (310) 252-3521 MATTEL THIRD QUARTER EARNINGS INCREASE 26 PERCENT; MOMENTUM ASSURES ANOTHER RECORD YEAR ------------------------------------ LOS ANGELES, Oct. 18 -- Mattel, Inc. today reported record net income of $131.8 million or $.72 per share for the third quarter ended Sept. 30, 1994, up 26 percent from $104.7 million or $.58 per share in the 1993 quarter. Net sales also reached record levels, increasing 16 percent to $1.04 billion from $897 million last year. For the first nine months of 1994, net income increased 30 percent to a record $213.0 million or $1.15 per share, versus $163.9 million or $.91 per share in the first nine months of 1993 before accounting changes. Net sales were a record $2.17 billion, up 11 percent from $1.95 billion in 1993. "We are most pleased with Mattel's performance for the third quarter and nine months," John W. Amerman, Mattel's chairman and chief executive officer, said. "Despite the fact that shipping patterns are changing to later in the year and many countries outside the United States continue to be in a recessionary environment, Mattel's performance in each quarter this year has exceeded our expectations," he said. -more- 2-2-2-2-2 "The company's capacity to generate cash continues to be excellent. Mattel's senior debt, net of acquisitions, declined by more than $80 million versus year ago, and cash is up by approximately $35 million versus the same time last year," Amerman said. "As was expected, the Kransco and Spear acquisitions only had a minor effect on third quarter profitability. We do anticipate profitable impact from these acquisitions in the fourth quarter, which will help ensure achievement of our 1994 goal. "Strong consumer demand for the full range of Mattel products, coupled with our unique ability to support retailer requirements, bodes well for the 1994 holiday season," he said. "Excellent growth of Barbie in the U.S. has been a strong foundation for our success in 1994. Disney products, led by 'The Lion King'; Fisher-Price toys; Hot Wheels vehicles and playsets, and Polly Pocket are helping to draw consumers into toy retail stores. As a result, we are confident that 1994 will be the sixth consecutive year of record sales and record earnings for Mattel," Amerman said. Mattel, Inc. is a worldwide leader in the design, manufacture and marketing of children's toys. With headquarters in El Segundo, California, Mattel has offices and facilities in 34 foreign countries and sells its products in more than 140 nations throughout the world. -###- MATTEL, INC. AND SUBSIDIARIES CONSOLIDATED RESULTS OF OPERATIONS
FOR THE FOR THE THREE MONTHS ENDED NINE MONTHS ENDED ------------------------- ------------------------- Sept. 30, Sept. 30, Sept. 30, Sept. 30, (In thousands, except per share amounts) 1994 1993 (a) 1994 1993 (a) - ---------------------------------------- ---------- ---------- ---------- ---------- Net Sales $1,037,082 $ 896,732 $2,174,616 $1,950,534 Cost of sales 508,122 442,797 1,093,047 998,816 ---------- ---------- ---------- ---------- Gross Profit 528,960 453,935 1,081,569 951,718 Advertising and promotion expenses 161,298 139,392 326,938 291,271 Other selling and administrative expenses 140,601 128,882 376,006 352,031 Other expense, net 5,967 5,378 10,567 9,757 ---------- ---------- ---------- ---------- Operating Profit 221,094 180,283 368,058 298,659 Interest expense 18,274 16,913 37,887 45,051 ---------- ---------- ---------- ---------- Income Before Income Taxes 202,820 163,370 330,171 253,608 Provision for income taxes 71,000 58,714 117,200 89,702 ---------- ---------- ---------- ---------- Income Before Cumulative Effect of Changes in Accounting Principles 131,820 104,656 212,971 163,906 Cumulative effect of changes in accounting principles (b) - - - (4,022) ---------- ---------- ---------- ---------- Net Income $ 131,820 $ 104,656 $ 212,971 $ 159,884 ========== ========== ========== ========== Income Per Share - Primary (c) Income before cumulative effect of changes in accounting principles $ 0.72 $ 0.61 $ 1.17 $ 0.94 Cumulative effect of changes in accounting principles - - - (0.02) ---------- ---------- ---------- ---------- Net Income Per Share - Primary $ 0.72 $ 0.61 $ 1.17 $ 0.92 ========== ========== ========== ========== Average Number of Common and Common Equivalent Shares Outstanding - Primary 180,744 170,609 178,933 170,893 ========== ========== ========== ========== Income Per Share - Fully Diluted (c) Income before cumulative effect of changes in accounting principles $ 0.72 $ 0.58 $ 1.15 $ 0.91 Cumulative effect of changes in accounting principles - - - (0.02) ---------- ---------- ---------- ---------- Net Income Per Share - Fully Diluted $ 0.72 $ 0.58 $ 1.15 $ 0.89 ========== ========== ========== ========== Average Number of Common and Common Equivalent Shares Outstanding - Fully Diluted 182,312 180,336 182,228 180,969 ========== ========== ========== ========== MATTEL, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS Sept. 30, Sept. 30, Dec. 31, (In thousands) 1994 1993 (a) 1993 (a) - -------------- ----------- ----------- ----------- ASSETS Cash, cash equivalents and marketable securities $ 106,642 $ 70,464 $ 523,581 Accounts receivable, net 1,251,738 1,094,525 580,313 Inventories 360,741 276,823 219,993 Prepaid expenses 159,235 130,612 146,863 ----------- ----------- ----------- Total current assets 1,878,356 1,572,424 1,470,750 Property, plant and equipment, net 398,890 325,584 326,877 Other assets 508,384 194,323 202,450 ----------- ----------- ----------- Total Assets $ 2,785,630 $ 2,092,331 $ 2,000,077 =========== =========== =========== LIABILITIES AND SHAREHOLDERS' EQUITY Notes payable to banks $ 477,567 $ 101,376 $ - Current portion of long-term liabilities 2,700 9,194 104,862 Accounts payable and accrued liabilities 664,764 499,643 573,224 Income taxes payable 163,959 103,545 105,243 ----------- ----------- ----------- Total current liabilities 1,308,990 713,758 783,329 Long-term debt 258,539 360,348 254,159 Other long-term liabilities 88,107 62,022 70,827 Convertible debt - 97,706 73,953 Shareholders' equity 1,129,994 858,497 817,809 ----------- ----------- ----------- Total Liabilities and Shareholders' Equity $ 2,785,630 $ 2,092,331 $ 2,000,077 =========== =========== =========== (a) Consolidated results are restated for the merger with Fisher-Price, Inc. (b) A $20.0 million net-of-tax charge related to the adoption of FAS No. 106, partially offset by a $16.0 million credit related to the adoption of FAS No. 109. (c) Share and per share data for the quarter and nine months ended September 30, 1993 reflect the retroactive effect of shares issued pursuant to the Fisher- Price merger and a 5/4 stock split declared in November 1993.
-----END PRIVACY-ENHANCED MESSAGE-----