EL SEGUNDO, Calif. (AP) — 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.