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EARNINGS

July 16, 1993|Times Wire Services

Mattel Inc. and Hasbro Inc. posted double-digit earnings increases for the second quarter due to strong sales of their toys.

Mattel said earnings grew 45% on strong demand for its Barbie, Hot Wheels and other lines.

El Segundo-based Mattel earned $34 million, or 34 cents a share, compared to $23.4 million, or 23 cents a share, during the same period last year.

Sales rose 2% to $411.2 million, from $404.3 million.

Hasbro said earnings increased to $27.2 million, or 30 cents a share, compared to $22.7 million, or 26 cents a share, for the same period in 1992.

The Pawtucket, R.I.-based firm said revenue for the quarter ended June 27 was up 6% to $515.6 million, from $486 million.

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