MATTEL: Profits surpass forecast, shares boosted

Mattel has announced that quarter two was better than expected and shares are up.
Author:
Publish date:
Social count:
0
5_Pocoyo.jpg

Fresh from a court victory over MGA in the Bratz dolls case, Mattel has posted a better than expected quarterly profit today and a share rise of 12 per cent.

The company's second quarter net income fell 48 per cent to $11.8 million, or 3 cents a share, from $22.8 million or six cents per share in the year earlier period. But the profit still topped analysts' average target of 2 cents a share, according to Reuters Estimates.

Total sales rose 11 per cent to $1.11 billion, increasing 3 per cent in the United States and 15 per cent internationally.

Worldwide Barbie sales fell six per cent.

Toys tied to the hit films Speed Racer and Kung Fu Panda were good earners for the toy giant, which was also aided by strong sales of its Fisher Price brand and American Girl dolls. Action figures based on the new Batman film are expected to provide an added boost to summer sales.

Mattel Chief Executive Bob Eckert sought to ease concerns over consumer spending in the current financial climate: "There's no reason to believe, based on what we have seen so far this year or last Christmas, that the toy business won't continue to perform well."

Related

Featured Jobs

Vivid Job Logo 620 x 349

Digital Marketing Executive - Toys & Games

Vivid is Britain’s biggest toy company and the 20 largest in the world. With offices across the globe, they sell an amazing portfolio of toys and games to over 60 countries. Vivid is best known for its association with blockbuster brands and is very excited about future opportunities around the world.

Liberty

UK Sales Agents

Liberty House Toys have been appointed as the exclusive UK distributor for the BiOBUDDi brand, and we are pleased to introduce this new unique, innovative and exciting range of 100% environmentally-friendly toy building blocks. We are seeking experienced sales agents with existing network in the toy retail market.

Gameplan Job Logo 620 x 349

Head of Product Development & Marketing

Our client is a privately owned French toy and games manufacturer which sells through distributors in forty countries. The company develops and sells innovative electronic interactive toys and games for the educational and gaming markets, and also takes suitable licenses. To progress its successful business development a Head of Product Development & Marketing is to to recruited.

HIT Entertainment Job Logo 620 x 349

Licensing Systems Administrator

The Contract System Coordinator is a newly created role to support the deal term entry process into Mattel’s new Contract Management System for its Licensing business. The role will support the Business Teams at the Deal & Amendment phase of the contracting process and act in conjunction with the System Administration team.