Worldwide net sales down 15 percent
Domestic gross sales down 6 percent
International gross sales down 23 percent
Barbie® down 5 percent; Hot Wheels® down 3 percent
Core Fisher-Price® down 17 percent and American Girl® down 4 percent
Operating loss of $55.2 million

Mattel, Inc. today reported 2009 first quarter financial results. For the quarter, the company reported a net loss of $51.0 million, compared to last year's first quarter net loss of $46.6 million.

"This quarter's results met our expectations, with revenues negatively impacted by foreign exchange rates and retailer inventory reductions," said Robert A. Eckert, chairman and chief executive officer of Mattel. "We've made good progress on several strategically important fronts, and will continue to manage costs and expenses in light of expected revenue challenges."

Financial Overview

For the quarter, net sales were $785.6 million, down 15 percent compared to $919.3 million last year. On a regional basis, first quarter gross sales decreased 6 percent in the U.S. and decreased 23 percent in international markets. Operating loss for the quarter was $55.2 million, compared to prior year's operating loss for the quarter of $36.5 million.

• Mattel Girls and Boys Brands

For the first quarter, worldwide gross sales for the Mattel Girls & Boys Brands business unit were $504.0 million, down 15 percent versus a year ago. Worldwide gross sales for the Barbie® brand were down 5 percent, with a double-digit domestic increase offset by international declines, which were caused by changes in foreign exchange rates. Worldwide gross sales for Other Girls Brands were down 27 percent, driven by declines in the Polly Pocket® and High School Musical™ doll lines. Worldwide gross sales for the Wheels category, which includes the Hot Wheels®, Matchbox® and Tyco R/C® brands, were down 14 percent, driven primarily by declines in last year's Speed Racer® property. Worldwide gross sales for the Entertainment business, which includes Radica® and Games and Puzzles, were down 21 percent for the quarter, driven by declines in the CARS™ and Speed Racer® properties.

• Fisher-Price Brands

First quarter worldwide gross sales for the Fisher-Price Brands business unit, which includes the Fisher-Price® Core, Fisher-Price® Friends and Power Wheels® brands, were $283.7 million, or down 17 percent versus the prior year, primarily due to declines in Fisher-Price® Core.

• American Girl Brands

First quarter gross sales for the American Girl Brands business unit, which offers American Girl® branded products directly to consumers, were $66.4 million, down 4 percent versus last year, reflecting the later timing of Easter.