Mattel posts loss as Fisher-Price sales slip Reuters

Monday, hurt by lower sales of its Fisher-Price products, legal expenses and higher costs. The maker of Barbie dolls and toys tied to several big summer films said its first-quarter loss totaled $46.6 million, or 13 cents a share, compared with a year-earlier profit of $12 million, or 3 cents a share. Analysts on average were expecting earnings of 1 cent per share. Sales fell 2 percent to $919.3 million, below analysts' estimates of $932.5 million.

Wall Street analysts have said Mattel's margins should be pressured through the second quarter as the company grapples with higher testing and legal expenses stemming from last year's global recalls. The first quarter is typically a down period for toy companies as demand falls after the holiday shopping season, when most of the year's sales are made.

Price increases should help profitability in the second half of the year, Chief Executive Robert Eckert said in a statement. Thomson Reuters journalists are subject to an Editorial Handbook which requires fair presentation and disclosure of relevant interests. NYSE and AMEX quotes delayed by at least 20 minutes. Nasdaq delayed by at least 15 minutes.

Important keywords of article: , its, share, cents, global, statement, loss, products, profit, sales