Mattel's profit rose nearly 20% in second quarter Toy giant Mattel Inc. reported a nearly 20% rise in profit in the second quarter, beating Wall Street expectations by slashing costs to offset weak global demand. The El Segundo company said that for the three months ended June 30, net earnings totaled $96.2 million, or 28 cents a share, compared with $80.5 million, or 23 cents, in the same period in 2011. Sales remained flat at $1.16 billion. Chief Executive Bryan Stockton said in a call with analysts that the company "executed well" by focusing on its core brands and international markets. Among the company's major brands, sales grew 5% for Barbie, 11% for Hot Wheels, 2% for Fisher-Price products and 3% for American Girl. Mattel "delivered solid performance, despite the backdrop of a very challenging global economic crisis that's driving volatility," Stockton said. I believe we are well-positioned for the second half and the all-important holiday season. Stockton added that the company would continue to build momentum with toys tied to the movie "Batman: The Dark Knight Rises." The new items should help bolster entertainment sales, which slid 36% due primarily to slowing demand for toys related to "Cars 2." Analysts say Mattel helped itself by keeping a sharp eye on costs as well as raising prices earlier this year. "They benefited from a litany of things, from price increases to restructuring," said Margaret Whitfield, a toy analyst at Sterne Agee. It seemed like they have been building momentum while the toy industry was in negative digits. Looking forward to the holiday season, Whitfield said Mattel was well positioned with its toy lineup to capture consumer dollars. "In tough times retailers go with what's working, where they see momentum, and certainly Mattel has displayed a lot of confidence," she said. Shares of Mattel rose $3.31, or 10.7%, to $34.34 in midday trading Tuesday. Mattel profit falls 53%, sales slip 2% in first quarter Hasbro reports profit slump after Mattel says sales down Toy maker Mattel celebrates founder and real-life Barbie