Mattel Inc. said its first-quarter earnings rose...
Mattel Inc. said its first-quarter earnings rose sharply on demand for Barbie, Hot Wheels and other Mattel specialties. Accounting adjustments also helped swell the toy maker’s results.
During the first three months of 1993, El Segundo-based Mattel earned $32.9 million, or 32 cents per share, compared to $14.8 million, or 14 cents per share, in the 1992 first quarter. Mandatory changes in corporate accounting for income taxes and retiree benefits contributed $14.6 million of the 1993 amount.
Sales rose 6%, from $326 million to $346 million. International toy sales, mainly in Europe, grew 18% despite the adverse impact of a strengthening dollar, Mattel said.
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