Mattel on the up - ToyNews

Mattel on the up

Healthy rise in international sales counters $42 million in recall-related costs.
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The firm's fourth quarter net income in 2007 increased to $328.5 million from $286.4 million a year earlier, while its full year net income rose to $600 million from the previous year's $592.9 million.

International sales surged ahead by 18 per cent, however, US sales dipped by three per cent.

A tax benefit of $47.3 million also helped overcome recall costs of some $42 million.Revenue increased by almost four per cent to $2.19 billion.

The firm said in a statement that profits this year maybe affected by higher commodity and testing costs.

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