For the first quarter, Mattel posted net income of $24.8 million, or 7 cents a share, compared with a loss of $51 million, or 14 cents a share, the year before.
The company reported net sales of $880.1 million, up 12% from a year earlier. During the period, sales for the Mattel Girls & Boys Brands were up 14% vs. a year ago. Domestic gross sales were up 12% and international gross sales up 12%.
Mattel's first-quarter earnings easily beat Wall Street's expectation of a loss of 3 cents a share on revenue of $859.87 million.
-- Reported by Andrea Tse in New York
Follow TheStreet.com on
and become a fan on
Copyright 2010 TheStreet.com Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.