Mattel sales rise, but profits are down

first_img160Want local news?Sign up for the Localist and stay informed Something went wrong. Please try again.subscribeCongratulations! You’re all set! Revenue, meanwhile, climbed 19 percent, to $940.3 million, including a 3 percent benefit from currency exchange rates, compared with $793.3 million in the year-ago period. Domestic sales rose 10 percent, while international sales jumped 29 percent, the company said. Consensus estimates put sales at $847.8 million. The company’s performance was off to a good start this year, with brands other than Barbie leading the way, Mattel chairman and Chief Executive Robert A. Eckert said during a conference call with Wall Street analysts. “Our portfolio of brands maintained the momentum from the holiday season, with strong performances from both Fisher-Price core and Fisher-Price Friends,” Eckert said. Mattel Inc. reported a lower first-quarter profit Monday but beat Wall Street revenue expectations with strong sales, despite a decline in demand for Barbie dolls in the U.S. Profit slipped 60 percent from the year-ago period, which benefited from a hefty $57 million foreign tax settlement. The world’s largest toy maker said earnings fell to $12 million, or 3 cents per share, from $30.2 million, or 8 cents per share, during the same period of 2006. Analysts surveyed by Thomson Financial were expecting a loss of 5 cents per share. last_img read more