Despite a fragile global economy and softer-than-usual holiday sales, the world’s largest toyco Mattel has reported a rise in fourth quarter 2011 net income, due to strong demand abroad, and an increase in its full-year 2011 earnings.
Demand for brands such as Barbie, American Girl, Monster High and Disney Princess helped drive revenue up.
The company’s fourth quarter net income came in at US$370.6 million, or US$1.07 per share, compared to fourth quarter net income of US$325.2 million in 2010. For 2011, Mattel’s net income was US$768.5 million, or US$2.18 per share, compared to 2010′s net income of US$684.9 million, or US$1.86 per share.
Its fourth quarter net sales increased 1% to US$2.15 billion from US$2.12 billion in 2010, a lower-than-expected result due to unfavorable currency rates and weakness in the US market.
Fourth quarter worldwide gross sales of Mattel’s girls and boys brands unit, its biggest arm, increased 7% to US$1.36 billion versus a year ago. Worldwide gross sales for the Barbie brand rose 6% and 5% for the Hot Wheels brand.
For the year, worldwide gross sales for Mattel’s girls and boys brands unit were US$4.15 billion, up 13%. Worldwide gross sales for the Barbie brand were up 12% and 2% for the Hot Wheels brand.
Fourth quarter worldwide gross sales for the Fisher‐Price brands unit were US$700.4 million, a decrease of 10%. For 2011, worldwide gross sales for Fisher-Price were US$2.16 billion, down 3%.
The results come as Mattel’s acquisition of HIT Entertainment is expected to close tomorrow.