Mattel reports solid third-quarter earnings

Mattel Inc. reported a 6.2% rise in profit and a 9% increase in sales for the third quarter thanks to strong demand for Barbie, other doll lines and "Cars 2"-related toys.

For the three months ended Sept. 30, the nation's largest toymaker, based in El Segundo, reported profit of $300.8 million, or 86 cents a share, compared with $283.3 million, or 77 cents, in the year-earlier quarter.

"Not only have we continued to benefit from the strength of our core brands, but this year's big entertainment property, 'Cars 2,' is also fueling momentum," said Robert A. Eckert, Mattel's chief executive.

Read Full Article from Los Angeles Times

- Posted: 2011-10-14 14:14:03

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