Mattel 4Q revenue drops as Barbie sales slip

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AP Photo/Gene J. Puskar

EL SEGUNDO, Calif. (AP) — Mattel’s fourth-quarter net income climbed 21 percent from year-ago results depressed by a litigation charge. But sales of brands including Barbie and Fisher-Price dropped during the key holiday selling period.

The toy company’s performance missed analysts’ estimates.

Its stock fell in Friday premarket trading.

For the three months ended Dec. 31, Mattel Inc. earned $369.2 million, or $1.07 per share. That compares with $306.5 million, or 87 cents per share, a year ago.

Revenue dropped 7 percent to $2.11 billion from $2.26 billion. Barbie and Fisher-Price sales both declined 13 percent.

Analysts expected earnings of $1.19 per share on revenue of $2.37 billion.

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