Mattel sales higher than expected thanks to licensed toys | Key4Communications | News

Toy company Mattel reported higher-than-expected sales for the third quarter of 2011: net sales rose 9% up to $2 billion, against a forecast of $1.97 billion. Revenue increased by 6% in the US and by 13% in international markets, thanks to favourable exchange rates.

The company registered a net income of $300.8 million, compared with $283.3 million, a year ago, and in line with market expectations.

Core brands experienced an important growth in sales, particularly Barbie, up 17%, and Hot Wheels, with an increase of 6%. Robert A. Eckert, chairman and chief executive officer of Mattel, also stressed the good results by licensed toys, such as their Monster High brand and Cars 2, which boosted a 14% growth in sales in the entertainment business.