Mattel says higher product costs and legal fees at the world’s largest toymaker led to a loss for the first quarter, missing Wall Street expectations.

El Segundo, Calif.-based Mattel Inc., which makes Barbie dolls, Fisher-Price toys and Matchbox cars, reported a loss of $46.6 million, or 13 cents per share, compared with last year’s quarterly profit of $12 million, or 3 cents per share.

Sales fell 2 percent to $919.3 million from $940.3 million in the year-ago period.

Analysts surveyed by Thomson Financial had expected profit of a penny per share on higher sales of $926.6 million.