Barbie’s Popularity Helps Mattel

The toymaker Mattel posted a 23 percent increase in third-quarter profit on Friday, helped by stronger sales of Barbie and Disney Princess dolls, but its revenue fell short of forecasts on disappointing sales of Hot Wheels and Fisher-Price products.

Mattel said net income rose to $283.3 million, or 77 cents a share, up from $229.8 million, or 63 cents a share, a year earlier. A tax benefit raised net income by 5 cents a share and the company topped Wall Street forecasts by 1 cent a share.

Revenue rose 2 percent, to $1.83 billion from $1.79 billion, but fell short of the $1.94 billion analysts surveyed by Thomson Reuters had predicted.

Read Full Article from New York Times

- Posted: 2010-10-15 23:18:51

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