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Mattel’s Earnings Good Due to Increased Sales of Barbie & Hot Wheels (MAT)
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Posted on 01/29/10 at 9:05am by Ed Liston
Mattel Inc (NASDAQ: MAT) had a very good quarter. Mattel booked $328.4 million as its fourth quarter income and its EPS rose to 0$.89 from $0.49 a year earlier.
This rise in income is attributed to the increased sales in the holiday quarter this year as compared to last year and the additional cost cutting measures that the company took all year round. Its sales of Barbie products rose 12% while Hot Wheels products rose up by 16%. In the entire year, Mattel earned $528.7 million or $1.45 per share.
Mattel is based in El Segundo and is the number one toymaker in U.S. Its shares closed at $20.03.
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