Mattel figures confirm star performance

Mattel’s fourth quarter and full-year financial results show a stellar performance, with both turnover and profits up.
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For the quarter, the company reported net income of $286.4m, compared to last year's fourth quarter figure of $279.2m. For the year, the company reported net income of $592.9m, compared to last year's net income of $417m.

Fourth quarter turnover was $2.11bn, a 14 per cent increase from $1.84bn last year and included a favourable impact from changes in currency exchange rates of two percentage points. On a regional basis, fourth quarter gross sales increased 15 percent in the US and were up 15 per cent in international markets.

For the year, net sales were $5.65bn, a nine percent increase from $5.18 billion last year. On a regional basis, full-year gross sales were up eight per cent in the US and were up 11 per cent in international markets.

"I am pleased with our 2006 results as we made good progress in addressing the two key challenges facing the company: US sales declines in the Barbie brand and pressure on our gross margins," said CEO Bob Eckert (pictured).

"Barbie's domestic gross sales grew for the year with four consecutive quarters of US growth and our gross margins also grew in 2006, the first increase since 2003. Although positive trends, we have more to achieve on both fronts."

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