American Girl gives boost to Mattel's 3Q results

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Associated Press

Posted on October 16, 2013 at 4:01 AM

Updated Wednesday, Oct 16 at 4:02 AM

EL SEGUNDO, Calif. (AP) — Mattel's third-quarter net income rose 16 percent, buoyed by higher sales of American Girl and Monster High products and strength in all regions.

Its results beat Wall Street expectations. Its shares rose 57 cents to $42.12 in premarket trading.

The largest U.S. toy company earned $422.8 million, or $1.21 per share, for the three months ended Sept. 30. That's up from $365.9 million, or $1.04 per share, in the prior-year period.

Removing a tax benefit, earnings were $1.16 per share. Analysts predicted earnings of $1.11 per share.

Revenue for the El Segundo, Calif., company rose 6 percent to $2.21 billion from $2.08 billion. Wall Street expected $2.175 billion in revenue.

American Girl sales increased 20 percent.

Mattel Inc. also declared a fourth-quarter dividend of 36 cents per share.

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