News Summary: Mattel's 4Q results miss Street
GLUM SEASON: Mattel Inc., the world's largest toy maker, said Friday its fourth-quarter net income fell 17 percent, hurt by a litigation charge and weakness in some key brands like Barbie and Matchbox. Revenue rose 5 percent but results were short of expectations.
WHY IT MATTERS: The fourth quarter is key because toy makers can make up to 40 percent of annual sales during the period. Toy makers are facing a slowdown in the U.S. due partly to consumer worry over the economy.
WHAT'S NEXT: The maker of Hot Wheels toys and Monster High dolls is implementing a global price increase in the low single digits in 2013.
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