Sonny --You own NOK , I own TXN --handset sells are supposedly slowing :
Toy maker anticipates $100M in lost sales; cites computer chip shortage
August 10, 2000: 4:31 p.m. ET
LOS ANGELES (Reuters) - Toy giant Mattel Inc., the maker of Barbie dolls and Hot Wheels cars, anticipates about $100 million in lost sales in the second half of 2000 due to a worldwide shortage of computer chips, a company spokeswoman announced on Thursday.
Company executives announced the "ballpark" figure during meetings with analysts on Tuesday and Wednesday in Scottsdale, Ariz., said company spokeswoman Lisa Marie Bongiovanni. Analysts had fretted earlier this year that a worldwide shortage of computer chips, fueled by a surge in demand for wireless phones and handheld computers, could hurt sales at Mattel (MAT: Research, Estimates) and other toy makers.
The lost sales translate to about 5 cents per share in the second half of 2000, said Salomon Smith Barney analyst Jill Krutick, who attended the meetings with about 75 other analysts.
Krutick said some analysts were disappointed about a lack of news about Mattel's efforts to sell The Learning Co., its software unit that has put a drag on recent results. Mattel has been trying to sell the ailing unit, and it is expected that The Learning Co. will fetch far less than its $3.5 billion purchase price.
In releasing its second-quarter results on July 20, the company said "the sales process continues for Mattel's software business."
Mattel shares were down 1/8 at 10-3/8 in late Thursday trading on the New York Stock Exchange, less than half the stock's year-high of 24-3/16, but above its 52-week low of 8-15/16.
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