(Source: www.bcdb.com)
Toy manufacturer Mattel Inc. announced Monday that their movie-related division pulled a stunning 59% sales increase over their first quarter. Strong demand for toys based on the Disney/Pixar film Cars, plus a 4% benefit from currency rates, were responsible for the jump.
Mattel's revenue was up 19% to $940.3 million, compared with $793.3 million in the same period a year earlier, the company announced Monday. International sales grew by 29%, while domestic sales jumped by 10%.
Although Mattel's overall profits were down 60% from a year ago, the company's sales exceeded Wall Street analysts' predictions. Last year's profits also got a boost from a $57 million foreign tax settlement.