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MATTEL MATTEL REPORTS FIRST QUARTER 2021 FINANCIAL RESULTS • • • Net Sales of $ 874 million , up 47 % as reported , and 46 % in constant currency , versus prior year Reported Gross Margin of 46.8 % , an improvement of 380 basis points ; Adjusted Gross Margin of 47.0 % , an improvement of 350 basis points Reported Operating Income of $ 31 million , an improvement of $ 181 million ; Adjusted Operating Income of $ 28 million , an improvement of $ 161 million Reported Net Loss of $ 115 million , an improvement of $ 96 million • Adjusted EBITDA of $ 89 million , an increase of $ 155 million • • Completed a $ 1.2 billion refinancing transaction , reducing annual interest expense by $ 40 million Updated 2021 guidance to be provided on the Company's Q1 2021 conference call and live webcast EL SEGUNDO , Calif . , April 22 , 2021 – Mattel , Inc. ( NASDAQ : MAT ) today reported first quarter 2021 financial results . Ynon Kreiz , Chairman and CEO of Mattel said : " This was another record quarter for the company , with truly exceptional results reflecting the success of the turnaround , as we continue to drive transformational improvements and acceleration in our business . Following the third consecutive quarter of growing market share , we are strengthening our position as a consistent leader in the toy industry . We believe we are very well - positioned to improve profitability and accelerate topline growth in 2021 and beyond . " Mr. Kreiz continued : “ Even as markets gradually reopen , we remain focused on protecting the health and safety of our employees . I am proud of the outstanding performance of the entire Mattel global team and the significant progress we are making on our strategy to transform into an IP - driven , high - performing toy company . While growth this quarter was partially driven by year - over - year COVID - related comparisons , we believe our outstanding results , overall , are attributable to the strength of our brands , quality and breadth of our product , world - class supply chain , global commercial capabilities , and very effective demand creation in close collaboration with our retail partners . "