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Second Quarter Highlights
Mattel Inc. today reported 2011 second quarter financial results. For the quarter, the company reported net income of $80.5 million compared to last year’s second quarter net income of $51.6 million. "For the second quarter, I am very pleased with the continued global momentum across our portfolio, including core brand strength as well as the outstanding performance of the CARS 2® entertainment property," said Robert A. Eckert, Chairman and chief executive officer of Mattel. “Despite the mixed economic news, I am encouraged by our strong operating results and continue to believe we are well-positioned for the all-important second half of the year." Financial Overview For the quarter, net sales were $1.16 billion, up 14 percent compared to $1.02 billion last year, including favorable changes in currency exchange rates. On a regional basis, second quarter gross sales increased 7 percent in the U.S. and increased 23 percent in international markets, including favorable changes in currency exchange rates. Operating income for the quarter was $109.3 million, compared to prior year’s operating income for the quarter of $69.4 million. Mattel Girls & Boys Brands For the second quarter, worldwide gross sales for the Mattel Girls & Boys Brands business unit were $795.6 million, up 22 percent versus a year ago. Worldwide gross sales for the Barbie® brand were up 12 percent. Worldwide gross sales for Other Girls Brands were up 29 percent, driven by the Monster High® and Disney Princess™ doll lines. Worldwide gross sales for the Wheels business, which includes the Hot Wheels®, Matchbox® and Tyco R/C® brands, were down 2 percent. Worldwide gross sales for the Entertainment business, which includes Radica® and Games and Puzzles, were up 41 percent for the quarter, primarily driven by growth in the CARS 2® and Green Lantern® properties. Fisher-Price Brands Second quarter worldwide gross sales for the Fisher-Price® Brands business unit, which includes the Fisher-Price® Core, Fisher-Price® Friends and Power Wheels® brands, were $400 million, or up 4 percent versus the prior year, primarily driven by sales of Baby Gear and Infant and Preschool products, as well as solid performance in the Thomas and Friends® line. American Girl Brands Second quarter gross sales for the American Girl® Brands business unit, which offers American Girl® branded products directly to consumers, were $66.4 million, up 13 percent versus last year, primarily reflecting sales of products related to Kanani™, the 2011 Girl of the Year®. |