Mattel fiscal 3rd-quarter profit rises on sales

[October 20, 2008]  NEW YORK (AP) -- Toy maker Mattel says its fiscal third-quarter profit rose 0.5 percent on higher sales of its Fisher-Price and American Girl brands, but results missed Wall Street expectations as expenses rose.

Profit rose to $238.1 million, or 66 cents per share, from $236.8 million, or 61 cents per share, last year.

Sales rose 6 percent to $1.95 billion from $1.84 billion.

Analysts polled by Thomson Reuters expected 71 cents on sales of $1.96 billion.

Sales of Barbie remained weak, but revenue from El Segundo-based Mattel Inc.'s Fisher-Price brands rose 4 percent, and sales of American Girl toys rose 11 percent, helped by the Kit Kittredge film.

Expenses for advertising, promotions and other selling and administrative expenses all rose during the quarter.

[Associated Press]

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