EL SEGUNDO, Calif.
— Barbie maker Mattel Inc.'s fourth-quarter net income fell 17
percent, weighed down by a litigation charge. Its performance missed
Wall Street's expectations for the critical holiday period.
The world's
largest toy maker earned $306.5 million, or 87 cents per share, for the
three months ended Dec. 31. That compares with $370.6 million, or $1.07
per share, a year ago.
Removing the
litigation charge, earnings were $1.12 per share.
Analysts expected
$1.15 per share.
Revenue for the El
Segundo, Calif.-based company rose 5 percent to $2.26 billion from $2.15
billion. Wall Street forecast $2.3 billion.
The November
through December holiday period is key for toy makers because it can
make up to 40 percent of their revenue during the time.
Last week rival
Hasbro Inc.'s fourth-quarter revenue failed to meet analysts' estimates.
