Barbie, Hot Wheels drive earnings at Mattel

Mattel Inc. on Monday reported a 15-per-cent increase in its second-quarter profit on global sales of Barbie dolls and Hot Wheels toy cars that offset U.S. declines.

The toymaker posted a net income of $43.1 million US, or 11 cents per share, compared with $37.4 million, or 10 cents per share, a year earlier. Net sales totaled $1.02 billion, up from $957.7 million a year earlier.

Analysts polled by Thomson Financial on average expected earnings of 11 cents per share on net sales of $1.03 billion.

The company said global gross sales for Barbie rose six per cent, as international strength offset U.S. declines. Hot Wheels rose 20 per cent. The most notable laggard was the American Girl brand, where sales fell 10 per cent.

Shares of Mattel gained67 cents to close at $27.20US on the NYSE after rising steadily last week.