Mattel Swings to Profit on Barbie Sales

Toy maker Mattel Inc. reported a surprise first-quarter profit, due to lower costs and increased demand.
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Mattel Swings to Profit on Barbie Sales
A wall of Barbie dolls in the Mattel display at the annual Toy Fair, February 14, 2010 in New York. (Stan Honda/AFP/Getty Images)
4/18/2010
Updated:
10/1/2015
<a><img src="https://www.theepochtimes.com/assets/uploads/2015/09/96691734Mattel.jpg" alt="A wall of Barbie dolls in the Mattel display at the annual Toy Fair, February 14, 2010 in New York. (Stan Honda/AFP/Getty Images)" title="A wall of Barbie dolls in the Mattel display at the annual Toy Fair, February 14, 2010 in New York. (Stan Honda/AFP/Getty Images)" width="320" class="size-medium wp-image-1820959"/></a>
A wall of Barbie dolls in the Mattel display at the annual Toy Fair, February 14, 2010 in New York. (Stan Honda/AFP/Getty Images)
Toy maker Mattel Inc. reported a surprise first-quarter profit, due to lower costs and demand for its Barbie, Thomas & Friends, and WWE wrestling toys.

The El Segundo, Calif.-based world’s largest toy maker reported net income of $24.8 million, while most Wall Street analysts pegged Mattel to report a first-quarter loss. Sales increased 12 percent to $880.1 million globally for the quarter.

Sales were brisk for the newly licensed Thomas & Friends toys, WWE wrestling action figurines, and its flagship Barbie-branded toys. Sales of Matchbox, Hot Wheels, and Tyco R/C cars also jumped.

Mattel did not release a financial forecast for 2010.