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Mattel Reports Third Quarter 2012 Financial Results And Declares Fourth Quarter Dividend

Mattel, Inc. (NASDAQ: MAT) today reported 2012 third quarter financial results. For the quarter, the Company reported net income of $365.9 million, or $1.04 per share, compared to last year’s third quarter net income of $300.8 million, or $0.86 per share.

“We are pleased with our performance in the third quarter as it represents another quarter of building momentum in the marketplace through share gains and strong shipments across our portfolio of brands and countries,” said Bryan G. Stockton, Mattel chief executive officer. “That said, with the holidays still in front of us, we remain focused on executing our business and driving retail sales in the all-important holiday season.”

Financial Overview

For the quarter, net sales were $2.08 billion, up 4%, including an unfavorable change in currency exchange rates of 3 percentage points. On a regional basis, third quarter gross sales increased 6% in the North American region, which consists of the U.S., Canada and American Girl, with no impact from changes in currency exchange rates. For the International region, gross sales increased 2%, including an unfavorable impact of currency exchange rates of 9 percentage points. Operating income for the quarter was $487.4 million, compared to prior year’s operating income for the quarter of $397.6 million.

The Company’s debt-to-total-capital ratio was 36.3%. For the first nine months of the year, the Company’s cash and equivalents declined by approximately $1.09 billion, compared with a decline of approximately $1.03 billion during the same time period last year.

For the first nine months of the year, cash flows used for operating activities were approximately $101 million, a decrease of $221 million compared to approximately $322 million of cash flows used for operating activities in the same period of 2011. The decrease is primarily due to higher net income and lower working capital usage. Cash flows used for investing activities were approximately $833 million, an increase of $714 million, compared to approximately $119 million in 2011, driven primarily by the acquisition of HIT Entertainment. Cash flows used for financing and other activities were approximately $153 million, a decrease of $433 million, compared to approximately $586 million in 2011, primarily due to lower share repurchases and 2011 repayments of long-term debt.

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