Mattel's Earnings Rise 35% - TheStreet

Mattel

(MAT) - Get Report

posted earnings that rose 35%, topping expectations. Barbie's parent also maintained its outlook for the coming year amid "a continuation of the challenging business environment."

The world's largest toy maker posted fourth-quarter net income of $190.3 million, or 43 cents a share. Excluding one-time items, Mattel earned $186.1 million, or 42 cents a share, up from $138 million, or 31 cents a share. Wall Street was expecting earnings of 38 cents a share, according to a survey of analysts by Thomson Financial First Call.

Fourth-quarter sales rose 7% to $1.7 billion, buoyed by strong international growth of Barbie sales.

The company said it expects long-term revenue to grow in the mid-single-digit range and earnings per share "to be in the low double-digits at the low end of the range to mid-teens at the high end of the range."