Toy Story 3 boosts Mattel Q3

Mattel's third quarter results show turnover and net income rising, thanks in the main to Toy Story 3 sales.
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Worldwide gross sales for the Entertainment business, which includes Radica and Games and Puzzles, increased by 23 per cent for the quarter, mostly attributable to Toy Story 3 and WWE.

For the quarter, the company reported net income of $283.3m, compared to last year's third quarter net income of $229.8m.

"We continue to be pleased with the performance of the business," said Bob Eckert, chairman and chief executive officer of Mattel. "While the all-important holiday season is still in front of us, we remain on track to deliver solid revenue and profit growth driven by our portfolio of brands and countries."

For the quarter, net sales were $1.83bn, up two per cent compared to $1.79bn last year, including unfavourable changes in currency exchange rates of three per cent.

On a regional basis, third quarter gross sales increased three per cent in the US and increased two per cent in international markets, including unfavourable changes in currency exchange rates of seven per cent.

Operating income for the quarter was $358.6m, compared to prior year's operating income for the quarter of $336.5m.

For the third quarter, worldwide gross sales for the Mattel Girls & Boys Brands business unit were $1.17bn, up eight per cent against a year ago.

Worldwide gross sales for the Barbie brand grew six per cent compared to last year. Worldwide gross sales for Other Girls Brands were up seven per cent, driven primarily by strong performance of the Disney Princess dolls and the introduction of the Monster High.

Worldwide gross sales for the Wheels category, which includes the Hot Wheels, Matchbox and Tyco R/C brands, were down five per cent. 

Third quarter worldwide gross sales for Fisher-Price, were $743.4 million, down five per cent versus the prior year, primarily due to declines in Fisher-Price Core and Power Wheels, which offset gains in Fisher-Price Friends, primarily driven by products supporting evergreen entertainment properties such as Thomas and Friends and the new product introduction of Sing-A-Ma-Jigs.

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