Income up, sales flat at Mattel
EL SEGUNDO, Calif. — For the second quarter, Mattel reported net income of $96.2 million, or 28 cents per share, compared with last year’s second quarter net income of $80.5 million, or 23 cents per share.
“In the second quarter, we delivered solid performance as we continued to build momentum with key brands, such as Barbie, Monster High, American Girl and Hot Wheels, as well as the Batman - The Dark Night Rises property, despite a continued cautious global retail environment and a strengthening U.S. dollar,” said Bryan Stockton, Mattel CEO “As we look forward, we remain focused on executing our portfolio of strong brands, countries and customers to deliver in the all-important holiday season.”
For the quarter, net sales were $1.16 billion, flat compared with last year, including an unfavorable change in currency exchange rates of 4 percentage points. On a regional basis, second quarter gross sales increased 1% in the North American region, which consists of the United States, Canada and American Girl, with no impact from changes in currency exchange rates. For the International region, gross sales decreased 1%, including an unfavorable impact of currency exchange rates of 10 percentage points. Operating income for the quarter was $131.4 million, compared with prior year’s operating income for the quarter of $109.3 million.