Shares of toy manufacturing and entertainment company Mattel, Inc. (MAT) are falling more than 10% Thursday morning despite reporting improved quarterly results.
Net income for the third quarter declined to $146.3 million or $0.41 per share from $289.9 million or $0.80 per share in the same quarter a year ago. Excluding one-time items, earnings were $1.08 per share.
Net sales also increased 9% to $1.919 billion from $1.756 billion last year.
MAT is at $17.81 currently. It has traded in the range of $15.36 – $22.64 in the last 52 weeks.
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