EL SEGUNDO, Calif., May 17 /PRNewswire-FirstCall/ -- Mattel, Inc.
(NYSE: MAT) announced today that the Mattel Board of Directors has
authorized the company to increase its previously announced share
repurchase program by an additional $250 million. Repurchases will take
place from time to time, depending on market conditions.
The share repurchase program is one component of the company's capital
and investment framework, which was announced in February 2003. Under this
program, Mattel has repurchased 68.1 million shares of common stock for an
aggregate of $1.2 billion.
About Mattel:
Mattel, Inc., (NYSE: MAT; http://www.mattel.com) is the worldwide leader in
the design, manufacture and marketing of toys and family products. The
Mattel family is comprised of such best-selling brands as Barbie(R), the
most popular fashion doll ever introduced, Hot Wheels(R), Matchbox(R),
American Girl(R), Radica(R) and Tyco(R) R/C, as well as Fisher-Price(R)
brands, including Little People(R), Power Wheels(R) and a wide array of
entertainment-inspired toy lines. Mattel is recognized as one of the 100
Most Trustworthy U.S. Companies by Forbes Magazine and is ranked among the
100 Best Corporate Citizens by CRO Magazine. Committed to ethical
manufacturing practices, Mattel marks a 10-year milestone in 2007 for its
ever-evolving Global Manufacturing Principles and focus on sustainable
business practices. With global headquarters in El Segundo, Calif., Mattel
employs more than 30,000 people in 43 countries and territories and sells
products in more than 150 nations. Mattel's vision is to be the world's
premier toy brands -- today and tomorrow.
Note: Forward-looking statements with respect to the financial
condition, results of operations and business of the company are subject to
certain risks and uncertainties that could cause actual results to differ
materially from those set forth in such statements. These include without
limitation: the company's dependence on the timely development,
manufacture, introduction and customer acceptance of new products; the
seasonality of the toy business; customer concentration and pricing;
significant changes in buying and payment patterns of major customers,
including as a result of bankruptcy and store closures; adverse changes in
general economic conditions in the U.S. and internationally, including
adverse changes in the retail environment, employment and the stock market;
order predictability and supply chain management; the impact of competition
(including from sellers of a broad range of play products including video
games and consoles, consumer electronics, and retailers' private label
products) on revenues and margins; the supply and cost of raw materials
(including oil and resin prices), components, employee benefits and various
services; the effect of currency exchange rate fluctuations on reportable
income; risks associated with acquisitions and mergers; the possibility of
product recalls and related costs; risks associated with foreign
operations; negative results of litigation, governmental proceedings or
environmental matters; changes in laws and regulations; possible work
stoppages, slowdowns or strikes; possible outbreaks of SARS, bird flu, or
other diseases; political developments and the threat or occurrence of war
or terrorist acts; the possibility of catastrophic events; the inherent
risk of new initiatives; and other risks and uncertainties as may be
detailed from time to time in the company's public announcements and SEC
filings. This release contains forward-looking statements about anticipated
share repurchases and the timing of such repurchases. Mattel does not
update forward-looking statements and expressly disclaims any obligation to
do so.
SOURCE Mattel, Inc.
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Related links:
http://www.mattel.com
http://www.prnewswire.com/comp/540363.html /
CONTACT:
Media, Jules Andres, +1-310-252-3529,
Jules.Andres@mattel.com, or Securities Analysts, Mike Salop,
+1-310-252-2703, Mike.Salop@mattel.com, both of Mattel, Inc.
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