Mattel Earnings ClimbWednesday, October 16, 2013
Strong global sales of its flagship Barbie and newcomer doll lines such as Monster High helped boost Mattel Inc.'s third quarter net income 16 percent.
The El Segundo toy maker on Wednesday reported net income in $424 million, ($1.21 a share), compared with $366 million ($1.04) in the same period a year earlier. Revenue rose 6 percent to $2.21 billion.
Gross sales were up 3 percent in North America and 9 percent overseas. Worldwide orders of Barbie products rose a net 3 percent, with 6 percent growth internationally offsetting a 1 percent decline in the United States. American Girl sales were up 20 percent, and combined sales of other girls lines, such as Monster High, jumped 28 percent.
“We continue to be very excited about the strength of Monster High, American Girl and Disney Princess,” said Chief Executive Bryan Stockton in a conference call with analysts. Its Fisher-Price Friends unit for preschoolers was another strong driver, he said, bolstered by the recent acquisition of the Thomas &Friends franchise.
Excluding a tax benefit of 5 cents per share, adjusted earnings were $1.16 per share. Analysts had expected earnings of $1.11 a share on revenue of $2.17 billion.
Shares on Wednesday closed up 42 cents, or 1 percent, to $41.97 on the Nasdaq.