Mattel 1998 Annual Report Download - page 52

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Mattel, Inc. and Subsidiaries 50
Note 9 - Quarterly Financial Information (Unaudited)
(In thousands, except per share amounts) First Quarter Second Quarter Third Quarter Fourth Quarter
Year Ended December 31, 1998
Net sales $ 705,164 $861,526 $1,672,120 $1,543,082
Gross profit 323,918 404,748 852,237 782,090
Advertising and promotion expenses 98,081 109,875 253,493 351,844
Other selling and administrative expenses 183,791 190,689 218,543 289,104
Amortization of intangibles 7,713 7,741 12,714 13,761
Special charges (a) - - 38,000 6,000
Income before income taxes 17,756 84,617 279,486 83,204
Net income 12,669 60,384 199,665 59,546
Preferred stock dividend requirements (1,990) (1,990) (1,990) (1,990)
Net income applicable to common shares 10,679 58,394 197,675 57,556
Basic income per common share:
Net income $ 0.04 $ 0.20 $ 0.68 $ 0.20
Weighted average number of common shares 293,048 293,433 291,870 287,630
Diluted income per common share:
Net income $ 0.04 $ 0.20 $ 0.66 $ 0.20
Weighted average number of common and common equivalent shares 298,164 297,720 303,551 290,399
Dividends declared per common share $ 0.07 $ 0.08 $ 0.08 $ 0.08
Common stock market price:
High $ 45.63 $ 43.63 $ 42.31 $ 39.63
Low 35.63 36.00 28.00 21.69
Year Ended December 31, 1997 (b)
Net sales $ 693,520 $972,656 $1,555,347 $1,613,093
Gross profit 322,811 458,837 800,277 818,075
Advertising and promotion expenses 102,626 131,713 244,231 300,569
Other selling and administrative expenses 185,286 192,707 198,767 220,192
Amortization of intangibles 8,122 8,092 8,033 7,932
Restructuring and integration charges (c) 275,000---
Income (loss) before income taxes and extraordinary item (267,619) 107,944 317,755 267,002
Extraordinary item - loss on early retirement of debt - - (4,610) -
Net income (loss) (204,624) 75,634 219,045 195,129
Preferred stock dividend requirements (2,840) (2,837) (2,838) (1,990)
Net income (loss) applicable to common shares (207,464) 72,797 216,207 193,139
Basic income (loss) per common share:
Income (loss) before extraordinary item $ (0.72) $ 0.25 $ 0.76 $ 0.66
Extraordinary item - loss on early retirement of debt - - (0.02) -
Net income (loss) $ (0.72) $ 0.25 $ 0.74 $ 0.66
Weighted average number of common shares 288,382 291,737 290,650 290,962
Diluted income (loss) per common share:
Income (loss) before extraordinary item $ (0.72) $ 0.25 $ 0.73 $ 0.64
Extraordinary item - loss on early retirement of debt - - (0.02) -
Net income (loss) $ (0.72) $ 0.25 $ 0.71 $ 0.64
Weighted average number of common and common equivalent shares 288,382 296,609 306,870 306,053
Dividends declared per common share $ 0.06 $ 0.07 $ 0.07 $ 0.07
Common stock market price:
High $ 29.25 $ 35.25 $ 35.75 $ 41.38
Low 24.00 24.00 32.38 33.38
(a) Represents a nonrecurring charge in the third quarter related to a voluntary recall of certain Power Wheels®ride-on vehicles, and a one-time charge in the fourth quarter in connection with the
proposed Toys R Us-related antitrust litigation settlement.
(b) Financial information for the first quarter of 1997 has been restated retroactively for the effects of the March 1997 merger with Tyco, accounted for as a pooling of interests.
(c) Represents a nonrecurring charge for transaction, integration and restructuring costs related to the merger with Tyco.