UPDATE: Mattel Reports Upbeat Q4 Profit, Declares Q1 Dividend

Mattel Inc

reported a rise in its fourth-quarter net income. Mattel's quarterly net income surged to $370.6 million, or $1.08 per basic share, from $325.2 million, or $0.90 per basic share, in the year-earlier period. Its net sales rose to $2.15 billion from $2.12 billion. However, analysts were expecting a net profit of $345.9 million or $1.00 per share. Mattel's board also declared a Q1 dividend of $0.31 per share. Mattel shares closed at $29.53 yesterday.