Mattel’s fourth-quarter net income climbed 21 per cent from year-ago results depressed by a litigation charge. But sales of brands including Barbie and Fisher-Price dropped during the key holiday selling period.
The toy company’s performance missed analysts’ estimates.
Its stock fell in Friday premarket trading.
For the three months ended Dec. 31, Mattel Inc. earned $369.2-million, or $1.07 per share. That compares with $306.5-million, or 87 cents per share, a year ago.
Revenue dropped 7 per cent to $2.11-billion from $2.26-billion. Barbie and Fisher-Price sales both declined 13 per cent.
Analysts expected earnings of $1.19 per share on revenue of $2.37-billion.