Toymaker Mattel Inc (MAT) said that profit for the second quarter more than doubled from a year ago. Net income for the quarter was $51.6 million or 14 cents a share, compared with $21.5 million, or 6 cents a share, in the second quarter of 2009.
Net sales rose 13% from a year earlier to $1.02 billion, the company said in a statement. Operating income for the quarter was $69.4 million, from $32.5 million in the second quarter of 2009.
"I am pleased with the continued solid performance across our portfolio of brands and countries, particularly Barbie and Hot Wheels, as well as the stellar contribution of the much-anticipated Toy Story 3 property," said Robert A. Eckert, chairman and chief executive officer of Mattel.
Finding Stock Ideas
Learn to do your research and find investments.View Course »