SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
Current Report Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934
Date of Report: October 19, 1999
MATTEL, INC.
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(Exact name of registrant as specified in its charter)
Delaware 001-05647 95-1567322
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(State or other jurisdiction (Commission (I.R.S. Employer
of incorporation) File No.) Identification No.)
333 Continental Boulevard, El Segundo, California 90245-5012
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (310) 252-2000
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N/A
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(Former name or former address, if changed since last report)
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Item 5. Other Events
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Mattel, Inc. hereby incorporates by reference herein its press
release dated October 4, 1999 regarding the impact of Learning
Company issues on Mattel's third quarter 1999 earnings, a
copy of which is included as Exhibit 99.0 attached hereto.
Item 7. Financial Statements and Exhibits
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(a) Financial statements of businesses acquired: None
(b) Pro forma financial information: None
(c) Exhibits:
99.0 Press release dated October 04, 1999
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SIGNATURES
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Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf
by the undersigned hereunto duly authorized.
MATTEL, INC.
Registrant
By: /s/ Robert Normile
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Robert Normile
Senior Vice President,
General Counsel and
Secretary
Date: October 19, 1999
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EXHIBIT 99.0
FOR IMMEDIATE RELEASE CONTACT:
October 4, 1999 News Media Investor Relations
Glenn Bozarth Jessica Fisher
310-252-3521 310-252-2703
LEARNING COMPANY ISSUES
TO IMPACT MATTEL EARNINGS
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LOS ANGELES, October 4 -- Mattel, Inc. said today that its
Learning Company division will have a significant third quarter
revenue shortfall resulting primarily from a decision not to
go forward with a planned licensing arrangement, as well as
higher than expected product returns. The lower revenues,
together with the write-off of bad debts, increased customer
benefits and the termination of certain distributors, will result
in a third quarter, after-tax loss at The Learning Company of
between $50 million and $100 million, compared with an expected
$50 million, after-tax profit for this division. Consequently,
Mattel third quarter earnings per share will be approximately
$.30 to $.40, with an estimated 2 to 4 percent decline in
revenue.
"Unfortunately, the Learning Company performance masks the
underlying vitality of our core U.S. business," Jill E. Barad,
Mattel's chairman and chief executive officer said. "This
strength was most evident in over-the-counter sales improvements
for Barbie, Fisher-Price and our Wheels brands, as well as
the fact that third quarter shippable orders for these same
brands exceeded what we could fulfill by more than $100 million.
That $100 million will be shipped early in the fourth quarter,"
she said.
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2-2-2-2-2-2
Mattel said its full third quarter financial results will be
released on October 21, 1999.
Mattel is a worldwide leader in the design, manufacture and
marketing of family products. With headquarters in El Segundo,
California, Mattel has offices and facilities in 36 countries
and sells its products in more than 150 nations throughout the
world.
Note: Forward-looking statements included in this release
with respect to the financial condition, results of operations
and business of the company, which include, but are not limited
to sales levels, restructuring and integration charges, special
charges, other non-recurring charges, cost savings, operating
efficiencies and profitability, 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, introduction and customer acceptance
of new products; significant changes in buying patterns of
major customers; possible weaknesses of international markets;
the impact of competition on revenues and margins; the
company's ability to successfully integrate the operations of
The Learning Company following its merger into the company;
the effect of currency fluctuations on reportable income;
unanticipated negative results of litigation, governmental
proceedings or environmental matters; and other risks and
uncertainties as may be detailed from time to time in the
company's public announcements and SEC filings.
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