Mattel Reports Third Quarter Financial Results, Including Lower Barbie and Fisher-Price Sales

Mattel_logoLast Thursday, Mattel Inc. reported third quarter financial results, including net income of $331.8 million for the quarter, or $0.97 per share. This includes a negative impact of $0.05 per share from Mega Brands integration costs and a tax benefit of $0.04 per share. This compares to last year’s third quarter net income of $422.8 million, or $1.21 per share, which included a tax benefit of $0.05 per share.

For the quarter, net sales were $2.02 billion, down 8 percent compared to $2.21 billion last year, while on a regional basis, third quarter gross sales decreased 7 percent in the North American region. For the international region, gross sales decreased 7 percent, including an unfavorable impact of currency exchange rates of 1 percentage point. [Read more...]

Playrific Closes $1.7 Million in Funding for Personalized Children’s Media Service

Playrific, a leading digital media aggregation service for children, has closed an oversubscribed $1.7 million round of equity financing. The funding was lead by Golden Seeds, a network of angel investors dedicated to investing in early stage companies founded and led by women, with participation of investors from a variety of other angel groups including Launchpad Venture Group, Walnut Ventures, Northeast Angels, and Maine Angels[Read more...]

Voting Begins For 2011 Toy Industry Hall of Fame

The Toy Industry Association (TIA) is accepting votes for the 2011 Toy Industry Hall of Fame, to take place in conjunction with the Toy of the Year Awards during Toy Fair Week in New York City. Voting started yesterday and will run until August 27, with the winners awarded on February 12.

Living nominees include:
•Fashion Institute of Technology Toy Design Department Chair Judith Ellis
•Former Radica Games, Ltd. CEO Patrick Feely
•Funrise Toys, Ltd. Founder and CEO Arnie Rubin
•Director Steven Spielberg
•Hasbro, Inc., Chairman Alfred Verrecchia

Posthumous nominees include:
•Russ Berrie, Inc., Founder Russell Berrie
•Duncan Yo-Yo Founder Donald Duncan
•Briarpatch, Inc., Co-founder Martine Redman

[Read more...]