It seems the holidays were good to El Segundo, California-based Mattel, as the toyco posted an increase in net income for its fourth quarter and full-year results.
Mattel saw a net income of US$328.4 million for the quarter, compared to US$176.4 million during the same period last year, while net sales during that time also saw a slight bump to US$1.96 billion, a 1% increase from US$1.94 billion. Q4 gross sales, however, were down 2% in the US and were up 3% in international markets.
For the year, it realized a net income of US$528.7 million for the year, compared to US$379.6 million in 2008. Net sales sat at US$5.43 billion, an 8% decline from US$5.92 billion the year before. Regionally, full-year gross sales were down 4% in the US and down 13% in international markets.
However, chairman and CEO Bob Eckert stated he was pleased with the holiday performance of classic lines, such as Barbie and Hot Wheels. Worldwide gross sales for the quarter for Barbie were up by 12%, while worldwide gross sales for other girls brands were down by 17%. Worldwide gross sales for the wheels business, including Hot Wheels, Matchbox and Tyco R/C brands, were up 11%, and the entertainment business, which includes Radica and games and puzzles, was up 2% for the quarter.
As for the year, worldwide gross sales for the Mattel girls & boys brands unit were down 10% to US$3.29 billion, and worldwide gross sales for the Barbie brand were down 3%, with gross sales for other girls brands down 20% globally. Worldwide gross sales for wheels declined 7% and entertainment also dipped 14%.
Worldwide gross sales for Fisher-Price were down in the quarter (a 3% decline to US$729.7 million) and for the full year (down 8% to US$2.17 billion).