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Mattel ahead in Q1 - ToyNews

Mattel ahead in Q1

Mattel turned in a surprise profit in its latest first quarter results.
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For the first three months of its financial year, the company reported profit of $24.8m, up substantially from prior-year losses of $51m. Revenue was up by 12 per cent to $880.1m, beating analyst expectations of a loss on revenue of $860m.

"I am pleased with the performance across our portfolio of brands, including our core brands and our licensed evergreen brands, especially our newest properties - World Wrestling Entertainment, Thomas and Friends, and Toy Story," chairman and chief executive Bob Eckert said.

The firm reported a rise in sales of 14 per cent for ranges including Barbie and Hot Wheels, while Matchbox cars and Tyco rose three per cent. Fisher Price toys were up 11 per cent.

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