EL SEGUNDO, Calif., Aug. 28 /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 $500 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 81.4 million shares of common stock for an
aggregate of $1.5 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; risks associated
with product recalls, product liability claims and product safety concerns,
such as possible reputational harm, reduced sales or increased 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, Joleen Jackson,
+1-310-252-2702, Joleen.Jackson@mattel.com, both of Mattel, Inc.
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