Mattel 2Q profit falls, Barbie sales slide again

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Associated Press

Posted on July 17, 2013 at 4:01 AM

Updated Wednesday, Jul 17 at 4:02 AM

EL SEGUNDO, Calif. (AP) — Mattel's second-quarter net income fell 24 percent, pulled down by an impairment charge. The toymaker's revenue edged up but came in below expectations.

In the April-to-June quarter, net income dropped to $73.3 million, or 21 cents per share. That compares with $96.2 million, or 28 cents per share, a year ago.

Analysts expected earnings of 32 cents per share and typically exclude unusual items.

Revenue for the El Segundo, Calif., company edged up to $1.17 billion from $1.16 billion as international sales grew. Still, this missed Wall Street's $1.22 billion.

Sales of Mattel's Barbie franchise declined for the fourth straight quarter. Sales of Monster High and American Girl products rose, while Fisher-Price and Hot Wheels sales dropped.

Mattel Inc. said Wednesday that its board declared a third-quarter dividend of 36 cents per share.

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