Mattel's ( MAT) bottom line shrank drastically from a year ago despite a 5% jump in overall sales, as the toymaker's cost of sales and administrative expenses ballooned.

Mattel earned $9.0 million, or 2 cents a share, in the latest quarter compared with earnings of $32.8 million, or 9 cents a share, last year. Sales rose to $780.9 million from $745.2 million. Analysts had been expecting earnings of 9 cents on revenue of $758.5 million.

The disparity between the company's reported performance compared with analysts' top- and bottom-line estimates looked attributable to an unexpectedly high cost of sales: $429.2 million, or 55% of sales, in the latest quarter compared with $377.3 million, or 50.6% of sales, last year.

Another expense line, other selling and administrative expenses, rose 13% to $251.6 million in the latest quarter.

"While we are not surprised by the results for the quarter, we are not pleased," the company said in a statement. "Improving top-line growth is our main focus for the year, and we will continue to invest in programs and initiatives in order to drive future top-line growth."

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