Mattel Inc. (MAT) Profit Up 15 Percent
Mattel Inc. reported a 15 percent increase in its second-quarter profit Monday with strong sales of toy cars, although Barbie revenue in the U.S. fell for the second consecutive quarter.
The toy maker posted net income of $43.1 million, or 11 cents per share, compared with $37.4 million, or 10 cents per share, a year ago.
Revenue totaled $1.02 billion, up from $958 million in the year-ago period.
The company's profit matched expectations of analysts surveyed by Thomson Financial, although revenue fell below the $1.03 billion analysts were looking for.
The company said global gross sales for Barbie rose 6 percent, although 4 of those percentage points came from fluctuations in currency exchange.
The toy maker posted net income of $43.1 million, or 11 cents per share, compared with $37.4 million, or 10 cents per share, a year ago.
Revenue totaled $1.02 billion, up from $958 million in the year-ago period.
The company's profit matched expectations of analysts surveyed by Thomson Financial, although revenue fell below the $1.03 billion analysts were looking for.
The company said global gross sales for Barbie rose 6 percent, although 4 of those percentage points came from fluctuations in currency exchange.
Labels: MAT, Mattel Inc.
posted by Stock Administrator @ 6:45 PM
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