Mattel misses analysts' estimates in holiday quarter

Published February 01, 2013

| Reuters

Mattel Inc missed Wall Street's profit and sales estimates for the fourth quarter on weak demand for Barbie dolls and movie-themed toys in the holiday season.

The company, also home to Hot Wheels cars and Fisher-Price toys, said its net income had fallen to $306.5 million, or 87 cents a share, from $370.6 million, or $1.07 a share, a year earlier.

Excluding a litigation charge, the world's largest toy company earned $1.12 a share. Analysts on average were looking for $1.15, according to Thomson Reuters I/B/E/S.

Net sales rose 5 percent to $2.26 billion, but fell short of the analysts' average estimate of $2.29 billion.

(Reporting by Dhanya Skariachan; Editing by Lisa Von Ahn)

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