Financial Reports: PC Connection, Mattel

3Q Net Income at PC Connection Plunges 82%

Merrimack, NH—Third-quarter net income for computer reseller PC Connection (NASDAQ: PCCC) dropped 82%, to $1.9 million from $10.3 million last year. The company blames the decline on restructuring costs related to staff reductions and costs associated with the proposed acquisition of Kent, CT-based Cyberian Outpost, which was abandoned during the quarter. Of course, the 24% tumble in net sales couldn’t have helped. For the three months ended Sept. 30, sales were $308.7 million, compared with $404.9 million for the comparable quarter of last year. Total selling, general, and administrative (SG&A) expenses were 9.4% of net sales in the quarter, compared with 8.1% a year ago.

Mattel Drops 4% in 3Q Net Income El Segundo, CA—Toy manufacturer/marketer Mattel (NYSE: MAT), which owns American Girl cataloger Pleasant Co., reported a 4% decline in net earnings for the quarter ended Sept. 30. Including certain one-time charges, Mattel posted $199.8 million in third-quarter net income compared with $207.6 million last year. Net sales from continuing operations increased 2%, to $1.61 billion from $1.58 billion last year. Sales within Pleasant Co. rose 1%. Mattel’s other properties include Fisher-Price and Barbie.