Sales of Hot Wheels, Barbie and Monster High toys give lift to Mattel’s 2nd-qtr. performance

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In this April 13, 2011 photo, a Mattel\'s Hot Wheels car from the Larry\'s Garage Series is shown in Portland, Ore. THE CANADIAN PRESS/AP, Rick Bowmer

EL SEGUNDO, Calif. – Mattel Inc.’s second-quarter net income climbed 20 per cent as sales of Hot Wheels, Barbie and Monster High products increased. The results beat Wall Street estimates.

The biggest U.S. toy maker reported Tuesday that its net income rose to $96.2 million, or 28 cents per share, in the April to June quarter. That compares with $80.5 million, or 23 cents per share, a year ago.

The performance beat the 20 cents per share analysts expected.

Revenue held at $1.16 billion, but topped Wall Street’s estimate of $1.13 billion.

Sales of Hot Wheels climbed 11 per cent, while Barbie sales rose 5 per cent. Fisher Price sales increased 2 per cent and American Girl sales gained 3 per cent.

Mattel, which is based in El Segundo, Calif., also declared a third-quarter dividend of 31 cents per share.

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Abbey Westbury

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