Mattel Shares Rise on Q3 Results

The toymaker topped earnings and sales forecasts

   

Mattel (NASDAQ:MAT) announced on Tuesday that it earned $365.9 million during the third quarter, up from $300.8 million in the same period last year. EPS was $1.04, which exceeded the 99 cents that Wall Street was looking for, Reuters noted.

The toymaker recorded quarterly sales of $2.08 billion, up 4% from last year. That narrowly beat analysts, who forecast sales of $2.07 billion.

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Shares of Mattel climbed almost 4% in Tuesday morning trading.

The company noted that sales of its American Girl line of dolls and accessories jumped 16%. The iconic Barbie line, by contrast, saw sales dip 4%. Fisher-Price branded toys posted a 6% sales increase compared to last year.

Analysts said that the company’s gross margin had improved to 53.7%, topping estimates of 50.7%.

Mattel officials also noted that costs declined 8% to $962.4 million compared to 2011.


Article printed from InvestorPlace Media, http://investorplace.com/2012/10/mattel-shares-rise-on-q3-results/.

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