Mattel Inc. said sales of Barbie and her pink-and-white empire rose for the first time in almost two years during the holidays, a sign that the once-stalled brand may be recovering.
A 12 percent increase in Barbie sales combined with a 16 percent rise in Hot Wheels sales to drive an 86 percent increase in the toymaker’s profit.
After working to cut costs, Mattel earned $328.4 million, or 89 cents per share, during the quarter — handily beating Wall Street forecasts. Last year’s profit was $176.4 million, or 49 cents per share. Sales climbed 1 percent to $1.96 billion.
Chevron Corp. said Friday its fourth-quarter profit fell 37 percent as higher crude prices led to huge losses in its refining business.
The nation’s second-largest oil company reported earnings of $3.1 billion, or $1.53 per share, for the final three months of 2009. That compares with $4.9 billion, or $2.44 per share for the same period of 2008. Revenue increased 10.3 percent to $47.6 billion.
Analysts expected quarterly earnings of $1.70 a share.
Arch Coal Inc. cited nagging softness in coal demand from power plants and steelmakers for lower-than-expected earnings in the fourth quarter, but the miner said the industry is poised for a rebound. Arch owns the West Elk Mine in Somerset and three mines in Wyoming’s Powder River Basin.
Arch said it earned $1.5 million, or a penny per share, during the October-December period, down sharply from $62.3 million, or 44 cents per share, a year earlier.
Honeywell International Inc. said Friday its fourth-quarter profit slipped 1 percent on lower sales from its aerospace and automation units.
The manufacturing conglomerate said its profit fell to $698 million, or 91 cents per share, in the past three months of 2009, down from $707 million, or 97 cents per share, a year earlier. Sales fell 7 percent to $8.07 billion.
Analysts surveyed by Thom son Reuters expected, on average, earnings of 90 cents a share.
