Barbie Woes Dampen Mattel's Q1 Results18 Apr, 2006 By: Erik Gruenwedel
Universal Studios Home Entertainment's recent multipicture, multiyear pact for the Barbie brand with Mattel Inc. couldn't come at a better time, according to the toymaker's CEO, Robert Eckert.
Speaking to investors April 18 during El Segundo, Calif.-based Mattel's first-quarter (ended March 31) conference call, Eckert said the company would continue to build the Barbie brand, including videos, despite an 8% decline in first-quarter worldwide sales. Barbie sales in the United States were up slightly.
“One quarter of a little domestic growth is not all we need, but it is clearly better than another quarter of decline,” said Eckert.
Mattel posted net income of $30.2 million on revenue of $793.3 million, compared to income of $6.5 million and revenue of $783.1 million during the same period last year.