Investing.com -- Shares in Mattel Inc (O:MAT) fell considerably on Thursday after the toy giant reported a 33% decline in its quarterly earnings, amid poor Barbie doll shipments and the detriments of foreign exchange impacts from a stronger dollar.
For Mattel's third quarter of 2015, the El Segundo, California-based company, reported operating income of $300.8 million, down from operating income of $409.6 million in the same quarter last year. Although the decline represents a 7% decrease on a constant currency basis, Mattel's earnings fell 27% overall when the effects of foreign currency translations were not taken into account.
In terms of adjusted earnings per share, the figure dropped to 0.71 for the three-month period compared with per share earnings of 0.98 over the same quarter from 2014. Analysts expected to see earnings per share of 0.80 on revenue of $1.89 billion for the quarter.
"Our results for the quarter, excluding the significant impact from currency exchange rates, were broadly in line with our expectations at this stage of our turnaround," said Christopher Sinclair, Mattel Chairman and CEO. "Importantly, we're very encouraged by the progress we are making on reenergizing the company, building momentum in our core brands, improving retail execution, reducing costs and building scale in key emerging markets. As we continue our turnaround efforts, we remain comfortable with our full-year outlook."
Within the report, Barbie sales slumped by 4% for the period, while sales for the company's Fisher-Price brands fell approximately 1% to $625.3 million. Sales for its American Girls brand, meanwhile, dipped by 3% to $109 million, while revenues among its Arts & Crafts brands fell nearly 5% to $118.5 million.
Shares in Mattel fell 0.65 or 2.89% to 21.88 in after-hours trading.