Revenues soar for Mattel in Q2 - ToyNews

Revenues soar for Mattel in Q2

Net sales for the firm have risen by 14 per cent to $1.16 billion for the second quarter of 2011.
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Net profit for the period also rose to $80.5 million, compared to $51.6 million in Q2 2010.

In the US, sales increased by seven per cent, while international markets beat expectations, with sales rising by 23 per cent.

Chairman and CEO Bob Eckert, commented: "For the second quarter, I am very pleased with the continued global momentum across our portfolio, including core brand strength as well as the outstanding performance of the Cars 2 entertainment property.

"Despite the mixed economic news, I am encouraged by our strong operating results and continue to believe we are well-positioned for the all-important second half of the year."

Worldwide gross sales for Q2 for the Mattel Girls & Boys Brands unit were $795.6 million, an increase of 22 per cent compared to 2010.

Barbie worldwide gross sales rose by 12 per cent and for Other Girls Brands, were up 29 per cent, boosted by Monster High and Disney Princess lines.

Hot Wheels worldwide gross sales for the quarter were down slightly by two per cent, but the Entertainment business, including Radica and games and puzzles, increased sales by 41 per cent. Mattel said this jump was largely due to growth in the Cars 2 and Green Lantern properties.

Fisher-Price worldwide gross sales were up to $400 million, an increase of 13 per cent year-on-year.

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