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MATTEL REPORTS RECORD SECOND QUARTER RESULTS

 MATTEL REPORTS RECORD SECOND QUARTER RESULTS
 LOS ANGELES, July 16 /PRNewswire/ -- Mattel, Inc. (NYSE: MAT)


today reported record 1992 second quarter net income of $23.4 million or $.23 per share after the $.06 per share impact of a $10 million charge related to Child World, Inc. Net income for the 1992 second quarter was up 31 percent from $17.9 million or $.17 per share in the 1991 second quarter.
 Second quarter net sales reached the record level of $404 million, up 23 percent from $328 million in 1991.
 "This is the third consecutive quarter in which sales have grown by more than 20 percent versus year-ago periods," John W. Amerman, Mattel's chairman and chief executive officer said. "The earning power of the company continues to be strong, as excellent sales growth fuels record profit performance.
 "Gross margin in the second quarter reached 50.4 percent, a new high for the last five years and a 1.3 percentage point increase over last year's second quarter," Amerman said. "We are pleased that Standard and Poor's earlier this week recognized the company's consistent performance and favorable outlook, and increased the rating on Mattel's senior debt to investment grade.
 "These results reflect strong performance on a worldwide basis and across all product lines," Amerman said. "The outlook for the second half of the year remains favorable, projecting to continued double digit volume growth."
 For the first half of 1992, net income increased 31 percent to $38.2 million or $.37 per share, versus $29.1 million or $.27 per share last year. Year-to-date net sales were $730 million, up 23 percent from $596 million in 1991.
 Mattel, Inc. is a worldwide leader in the design, manufacture and marketing of children's toys. With headquarters in El Segundo, Calif., Mattel has offices and facilities in more than 20 foreign countries and sells its products in more than 100 nations throughout the world.
 MATTEL INC. AND SUBSIDIARIES
 Consolidated Results of Operations
 (In thousands, except per share amounts)
 For The For The
 Three Months Ended Six Months Ended
 June 30, June 29, June 30, June 29,
 1992 1991(a) 1992 1991(a)
 Net sales $404,257 $327,910 $730,363 $595,902
 Cost of sales 200,448 166,942 371,351 308,888
 Gross profit 203,809 160,968 359,012 287,014
 Advertising
 and promotion
 expenses 57,889 45,651 104,066 84,112
 Other selling
 and administra-
 tive expenses 96,557(b) 66,977 174,019(b) 131,115
 Other income,
 net (317) 1,059 (695) (2,013)
 Operating profit 49,680 47,281 81,622 73,800
 Interest
 expense 12,863 11,877 21,509 21,301
 Income before income
 taxes and extra-
 ordinary item 36,817 35,404 60,113 52,499
 Provision for
 income taxes 13,400 12,312 21,900 18,200
 Income before
 extraordinary
 item 23,417 23,092 38,213 34,299
 Extraordinary
 item -- debt
 retirement --- (5,236) --- (5,236)
 Net income $23,417 $17,856 $38,213 $29,063
 Income Per Share
 Income before
 extraordinary
 item $0.23 $0.22 $0.37 $0.32
 Extraordinary
 item -- debt
 retirement 0.00 (0.05) 0.00 (0.05)
 Net income per
 share $0.23 $0.17 $0.37 $0.27
 Average number of
 common and common
 equivalent shares
 outstanding 97,400 97,932 97,535 97,588
 (b) Includes a $10 million charge related to Child World receivables.
 Condensed Consolidated Balance Sheets
 (in thousands)
 June 30, June 29, Dec. 31,
 1992 1991 (a) 1991 (a)
 Assets
 Cash, cash equivalents
 and marketable securities $50,238 $69,759 $207,133
 Accounts receivable, net 661,054 466,391 342,212
 Inventories 251,199 158,078 146,433
 Prepaid expenses 35,933 11,947 30,510
 Total current assets 998,424 706,175 726,288
 Property, plant and
 equipment, net 219,110 200,467 209,488
 Other assets 155,069 118,083 163,456
 Total assets $1,372,603 $1,024,725 $1,099,232
 Liabilities and
 Shareholders' Equity
 Notes payable to banks $362,060 $106,159 $ ---
 Current portion of long-term
 liabilities 5,414 110,164 5,705
 Accounts payable and accrued
 liabilities 248,991 214,995 354,422
 Income taxes payable 58,139 21,807 50,378
 Total current liabilities 674,604 453,125 410,505
 Long-term debt 96,321 88,659 96,111
 Other long-term liabilities 39,494 41,419 45,029
 Convertible debt 97,445 97,290 97,349
 Shareholders' equity 464,739 344,232 450,238
 Total liabilities and
 shareholders' equity $1,372,603 $1,024,725 $1,099,232
 (a) Restated for the merger with International Games Inc.
 -0- 7/16/92
 /CONTACT: Glenn Bozarth of Mattel, Inc., 310-524-3521/
 (MAT) CO: Mattel Inc. ST: California IN: HOU SU: ERN


AL-CH -- LA009 -- 9731 07/16/92 12:16 EDT
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