Mattel, the largest toyco in the US, has released its fourth quarter and full-year financial results, revealing an uptick in worldwide sales growth propelled by girl-skewing brands like Barbie and American Girl, which both saw an 8% growth in worldwide sales for the quarter.
The California-based company reported net income of US$325.2 million for the quarter, or $0.89 per share, compared to last year’s Q4 net income of US$328.4 million, also $0.89 per share. Net sales were US$2.12 billion for the period, a 9% increase from US$1.96% billion last year. Gross sales in the US were up 11% and internationally at 6%.
Worldwide sales for Other Girls Brands were up 29% for the fourth period while worldwide quarterly sales for the Wheels business, which includes the Hot Wheels, Matchbox and Tyco R/C brands, were down 4%. Worldwide sales for the Entertainment business, which includes Radica and Games and Puzzles, were up 12% for the quarter
For the full year, worldwide sales for Barbie were up 7%, Hot Wheels up 3%, Core
Fisher-Price down 3% and American Girl up 5%. Overall worldwide sales for the Mattel Girls & Boys Brands business unit were US$3.66 billion for the year, up 11%.
In entering 2011 above analysts’ expectations, the company’s priority for the year ahead is to implement a new organizational structure filled with cost-cutting opportunities and deploy capital in a disciplined yet opportunistic manner.