News Summary: Mattel 1Q net income jumps
Mattel net income rises in 1st quarter on strong sales of Monster High, Disney Princess
THE NEWS: Mattel Inc. said Wednesday that its first-quarter net income more than quadrupled helped while revenue rose 7 percent to $995.6 million.
THE CONTEXT: The first-quarter is the seasonally smallest for toy makers — accounting for just 17 percent of annual sales, with ad spending at a minimum — coming after the busy holiday quarter. The latest earnings increase was helped by comparison with a period that included a big charge a year ago.
DOLL WARS: Sales of No. 1 doll Barbie slipped but Monster High, Disney Princess and American Girl all saw sales jump.
