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Updated Thursday, February 2, 2012 0:15 am TWN, By Mae Anderson and Michelle Chapman, AP

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Barbie demand helps push Mattel Q4 up

NEW YORK--Strong holiday demand for toys including Barbie and Monster High dolls helped push Mattel Inc.'s fourth-quarter profit up a better-than-expected 14 percent.

The company also raised its dividend and its shares edged higher in premarket trading.

But there were a few lumps of coal in the report, as U.S. sales dipped and weakness continued at its Fisher-Price unit.

The holiday quarter is crucial for toy makers, who can make up to half of their annual sales during the period.

Mattel, which is the No. 1 U.S. toy maker, reported Tuesday that its net income rose to US$370.6 million, or US$1.07 per share, for the period ended Dec. 31. That's up from US$325.2 million, or 89 cents per share, a year ago.

This beat the US$1 per share that analysts polled by FactSet expected.

“Mattel delivered another strong year, our third consecutive year of solid performance, which I am especially pleased about given the soft global economic backdrop and the highly promotional environment, particularly in the U.S.,” CEO Bryan G. Stockton said in a statement.

Mattel's quarterly revenue edged up 1 percent to US$2.15 billion from US$2.12 billion. But that missed Wall Street's estimate of US$2.22 billion.

A 2-percent drop in U.S. sales was offset by stronger results overseas, where revenue rose 5 percent.

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