Mattel Inc. reported better than expected first quarter earnings Monday.

The El Segundo toymaker’s net income in the period was $12 million (3 cents per share), a 60 percent plunge from $30 million (8 cents) for the same period a year earlier.

Analysts had projected a 5-cent loss, according to Thomson Financial. The year-earlier quarter was helped by a dividend of $57 million (15 cents per share), the result of audit settlements with foreign tax authorities.

Sales at Mattel, the world’s largest toy manufacturer, were up 19 percent to $940 million. Fisher-Price, Hot Wheels and Matchbox toy cars all saw double-digit increases in sales.

Shares in Mattel were up 31 cents, or 1 percent, to $28.65 in afternoon trading on the New York Stock Exchange. The company’s stock is up nearly 30 percent on the year.