Mattel 4Q net income slips 1 percent; sales spike

EL SEGUNDO, Calif. (AP) -- Mattel says its net income during the crucial holiday quarter slipped 1 percent on higher costs even though revenue rose on strong sales of Barbie and Fisher Price toys.

The nation's largest toy maker says net income edged down to $325.2 million or 89 cents per share, from $328.4 million, or 89 cents per share last year.

Analysts expected 86 cents per share, according to FactSet.

Revenue rose 9 percent to $2.12 billion. Analysts expected net income of $2.07 billion.

Barbie revenue rose 8 percent and Fisher Price revenue rose 6 percent.

For the year, Mattel Inc., based in El Segundo, Calif. Said net income rose 30 percent to $684.9 million, or $1.88 per share, while revenue rose 8 percent to $5.86 billion.