GO
Loading...

Mattel Profit Rises, Topping Expectations

Mattel, the largest U.S. toy maker, said Monday second-quarter profit rose 15%, helped by strong sales of its Wheels toys and Barbie dolls abroad.

Dancing Princess Barbie dolls are displayed at a ToysRus in Monrovia, Calif., Monday, Jan. 29, 2007. Mattel Inc., the world's largest toymaker, said Monday its fourth quarter profit rose 3 percent boosted by strong sales of its Barbie and Fisher-price toys, including the popular T.M.X. Elmo doll. (AP Photo/Nick Ut)
Nick Ut
Dancing Princess Barbie dolls are displayed at a ToysRus in Monrovia, Calif., Monday, Jan. 29, 2007. Mattel Inc., the world's largest toymaker, said Monday its fourth quarter profit rose 3 percent boosted by strong sales of its Barbie and Fisher-price toys, including the popular T.M.X. Elmo doll. (AP Photo/Nick Ut)

Net income rose to $43.1 million, or 11 cents a share, from $37.4 million, or 10 cents a share, a year earlier.

Quarterly sales rose 6.5% to $1.02 billion from $957.7 million a year ago, as a 3% decline in U.S. sales was overshadowed by an 18% increase in international markets.

Analysts on average expected Mattel to earn 10 cents a share on $1.02 billion in sales, according to Reuters Estimates.

Sales of Mattel's girls and boys brands rose 5%, while Fisher Price sales rose 12%. The company's Wheels business, which includes Hot Wheels and Matchbox toy cars, increased 20%.

Worldwide sales of its 48-year-old Barbie line rose 6% as strong sales abroad overcame a decline in the U.S., where the dolls face competition from MGA Entertainment's Bratz dolls and Hasbro's Littlest Pet Shop.

Contact U.S. News

  • CNBC NEWSLETTERS

    Get the best of CNBC in your inbox

    Please choose a subscription

    Please enter a valid email address
    To learn more about how we use your information,
    please read our Privacy Policy.

Don't Miss

U.S. Video

  • Foodies spark pretzel mania

    Gerry Shreiber, J&J Snack Foods Corporation CEO, discusses the growing trend among casual dining restaurants to incorporate pretzels into the menu.

  • Banks lending again: Expert

    We are starting to see some good loan growth, says Gerard Cassidy, RBC Capital Markets, providing his outlook on banks and weighing in on how low interest rates are impacting the sector

  • China to offer deposit insurance

    CNBC's Eunice Yoon reports China plans to launch a bank deposit insurance system in May, paving the way for deregulation of interest rates.