Barbie drives 6 pct rise in Mattel net income

[October 14, 2011]  EL SEGUNDO, Calif. (AP) -- Toy maker Mattel Inc. said Friday that strong sales worldwide of its iconic Barbie brand and "Cars 2" toys helped third-quarter net income rise nearly 16 percent.

The Barbie doll has been a strong seller for the largest U.S. toy company for the past two years. Barbie sales rose 17 percent worldwide. Disney Princess and Monster High dolls, a line of dolls that are offspring of famous monsters, also continued to be big sellers, the El Segundo, Calif.-based company said.

The company said its net income rose to $300.8 million, or 86 cents per share, for the three months ended Sept. 30. That compares with $283.3 million or 77 cents per share last year. Earnings matched analyst expectations, according to a FactSet poll.

Revenue rose 9 percent to nearly $2 billion from $1.83 billion a year ago. Analysts expected $1.97 billion. Sales rose 6 percent in the U.S. and 13 percent internationally.

Revenue from Mattel's entertainment division, which includes games and puzzles, rose 14 percent, mostly due to "Cars 2" toys.

Fisher Price revenue rose 1 percent to $748.9 million. American Girl revenue rose 4 percent to $87.6 million, helped by strong sales of Kanani, its new Hawaiian doll.

"As we enter into the all-important holiday season, we remain keenly focused on execution and delivering growth in our core brands," said CEO Robert Eckert.

Mattel also increased its share buyback program by $500 million

[Associated Press]

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