Mattel Announces Losses for 4th Quarter, All of ’86
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Mattel Inc. reported a $19.6-million loss for the final quarter of 1986, blaming higher-than-normal taxes on its foreign operations and a sluggish domestic market for toys, among other things.
In the fourth quarter of 1985, Mattel earned $5.4 million. Revenue rose to $271.9 million from $244.3 million.
Mattel had predicted it would record a loss for the fourth quarter after a profitable nine-month period.
For the full year, Mattel reported a $951,000 loss compared to a $58.1-million profit in 1985. Income before taxes for 1986 was $38.3 million compared to $107.5 million.
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