Mattel sees profit 24% lower in the quarter

NEW YORK-The weak sales in North America and the drop in sales of Barbie dolls reflected on the results of Mattel. The American toy manufacturer recorded a 24% decline in second-quarter net income, to $ 73.3 million, or $ 0.21 per share. A year before, had earned $ 96.2 million, or $ 0.28 per paper.
The company's Chief Executive, Bryan Stockton, noted that the company's performance reflects an asset depreciation expenses as well as investments made to help the future growth of the company, including the increase in $ 500 million share repurchase program.
It is worth noting that the toy industry's sales in decline, light features affected by consumer caution in making spending and by the demand increased by electronic products, like tablets and smartphones, among other factors.
The company's revenue totaled $ 1.17 billion, up from $ 1.16 billion in the previous year, with international sales push. Still, the result fell short of that expected by Wall Street, $ 1.22 billion. Sales in North America fell 2 percent and international sales were discharged from 4%.
Sales of Barbie declined for the fourth quarter followed-had now 12% drop. Sales of other brands of girls showed 23% increase, in part by the popularity of Monster High products.
Sales of Fisher-Price products decreased by 3% and the Hot Wheels gave 1%.