Exhibit 99.1

MATTEL REPORTS 2011 FINANCIAL RESULTS AND DECLARES QUARTERLY DIVIDEND

Fourth Quarter Highlights

Full-Year Highlights

Capital Deployment

EL SEGUNDO, Calif., January 31, 2012 – Mattel, Inc. (NASDAQ:MAT) today reported 2011 fourth quarter and full-year financial results. For the fourth quarter, the company reported net income of $370.6 million, or $1.07 per share, compared to last year’s fourth quarter net income of $325.2 million, or $0.89 per share. For the year, the company reported net income of $768.5 million, or $2.18 per share, compared to last year’s net income of $684.9 million, or $1.86 per share.

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“Mattel delivered another strong year, our third consecutive year of solid performance, which I am especially pleased about given the soft global economic backdrop and the highly promotional environment, particularly in the U.S.,” said Bryan G. Stockton, Mattel Chief Executive Officer. “Despite these challenges, for the year we delivered strong revenue growth and record operating income. Our portfolio of brands performed around the globe; our point-of-sale grew nicely; and we gained category share according to NPD’s most recent data. In fact, four of the top five properties for the 2011 holiday season were Mattel properties¹.”

Financial Overview

For the fourth quarter, net sales were $2.15 billion, a 1% increase from $2.12 billion last year, and included an unfavorable impact from changes in currency exchange rates of 1 percentage point. On a regional basis, fourth quarter gross sales were down 2% in the U.S. and were up 5% in international markets, which included an unfavorable impact from changes in currency exchange rates of 3 percentage points. Operating income for the quarter was $497.5 million, or 23.1% of net sales, compared to the prior year of 20.2% of net sales.

For the year, net sales were $6.27 billion, a 7% increase from $5.86 billion last year, and included a favorable impact from changes in currency exchange rates of 1 percentage point. On a regional basis, full-year gross sales were up 3% in the U.S. and were up 12% in international markets, which included a favorable impact from changes in currency exchange rates of 3 percentage points. Operating income for the year was $1.04 billion, or 16.6% of net sales, compared to the prior year of 15.4% of net sales.

The company’s debt-to-total-capital ratio of 37.4% is in line with the company’s capital and investment framework, and its year-end cash balance was $1.37 billion.

Net cash flows from operating activities were approximately $665 million, an increase of $137 million compared with approximately $528 million in 2010. The increase is primarily driven by improved earnings and the decision not to factor domestic receivables in 2010, partially offset by higher working capital usage. Cash flows used for financing and other activities were approximately $402 million, an increase of $185 million, compared with approximately $217 million in 2010, primarily due to higher debt maturities and share repurchases in 2011, partially offset by higher net proceeds from the issuance of debt.

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Capital Deployment

The company announced today that its Board of Directors declared a first quarter cash dividend of $0.31 per share on the company’s common stock. The dividend will be payable on March 9, 2012, to stockholders of record on Feb. 23, 2012. The dividend is the first of four quarterly dividends the company expects to make this year, reflecting an annualized dividend of $1.24 per share, which represents an increase of $0.32, or 35% versus last year’s total dividends of $0.92 per share. For the fourth quarter 2011, the company repurchased 4.0 million shares of its common stock at a cost of approximately $112 million and for the year, the company repurchased 20.4 million shares of its common stock at a cost of approximately $536 million.

Mattel Girls & Boys Brands

Fourth quarter worldwide gross sales for the Mattel Girls & Boys Brands business unit were $1.36 billion, up 7% versus a year ago. Worldwide gross sales for the Barbie^® brand were up 6% and worldwide gross sales for Other Girls Brands were up 19%. Worldwide gross sales for the Wheels business, which includes the Hot Wheels^®, Matchbox^® and Tyco R/C^® brands, were up 5%. Worldwide gross sales for the Entertainment business, which includes Radica^® and Games, were up 3% for the quarter.

For the year, worldwide gross sales for the Mattel Girls & Boys Brands business unit were $4.15 billion, or up 13%. Worldwide gross sales for the Barbie^® brand were up 12%. Worldwide gross sales for Other Girls Brands were up 27% for the year. Worldwide gross sales for the Wheels business, which includes the Hot Wheels^®, Matchbox^® and Tyco R/C^® brands, were up 2%. Worldwide gross sales for the Entertainment business, including Radica^® and Games, were up 16%.

Fisher-Price Brands

Fourth quarter worldwide gross sales for the Fisher-Price Brands business unit, which includes the Fisher-Price^® Core, Fisher-Price^® Friends and Power Wheels^® brands, were $700.4 million, down 10%. For the year, worldwide gross sales for the Fisher-Price Brands business unit were $2.16 billion, down 3%.

American Girl Brands

Fourth quarter gross sales for the American Girl Brands business unit, which offers American Girl^® branded products direct to consumers, were $283.9 million, up 4%. For the year, gross sales for the American Girl Brands business unit were $510.9 million, up 5%.

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Acquisition of HIT Entertainment

Mattel’s acquisition of HIT Entertainment is expected to close tomorrow. Mattel will announce the closing in a separate press release shortly after it occurs.

Live Webcast

Mattel will webcast its 2011 fourth quarter and full-year financial results conference call at 8:30 a.m. Eastern time today. The conference call will be webcast on the “Investors & Media” section of the company’s corporate Web site: http://corporate.mattel.com/. To listen to the live call, log on to the Web site at least 15 minutes early to register, download and install any necessary audio software. An archive of the webcast will be available on the company’s Web site for 90 days and may be accessed beginning two hours after the completion of the live call. A telephonic replay of the call will be available beginning at 11:30 a.m. Eastern time the morning of the call until Friday, Feb. 3 at midnight Eastern time and may be accessed by dialing + 1 (404) 537-3406. The passcode is 40640038.

Presentation slides relating to the conference call, information required by Securities and Exchange Commission Regulation G regarding non-GAAP financial measures, as well as other financial and statistical information, will be available at the time of the webcast on the “Investors & Media” section of http://corporate.mattel.com/, under the sub-headings “Financial Information” – “Earnings Releases.”

About Mattel

Mattel, Inc. (NASDAQ:MAT - News) (www.mattel.com) is the worldwide leader in the design, manufacture and marketing of toys and family products. The Mattel family is comprised of such best-selling brands as Barbie^®, the most popular fashion doll ever introduced, Hot Wheels^®, Matchbox^®, American Girl^®, Radica^® and Tyco R/C^®, as well as Fisher-Price^® brands, including Little People^®, Power Wheels^® and a wide array of entertainment-inspired toy lines. In 2012, Mattel was named as one of FORTUNE Magazine’s “100 Best Companies to Work For” for the fifth year in a row. Mattel also is ranked among Corporate Responsibility Magazine’s “100 Best Corporate Citizens” and the “World’s Most Ethical Companies.” With worldwide headquarters in El Segundo, Calif., Mattel employs approximately 28,000 people in 43 countries and territories and sells products in more than 150 nations. At Mattel, we are “Creating the Future of Play.” Follow Mattel on Facebook: www.facebook.com/mattel

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Note: This press release contains forward-looking statements on a variety of matters, including without limitation, the company’s expected quarterly cash dividend payments in 2012 and the timeframe in which the transaction with HIT Entertainment will be completed. These forward-looking statements are based on currently available operating, financial, economic and other information and are subject to a number of significant risks and uncertainties. A variety of factors, many of which are beyond our control, could cause actual future results to differ materially from those projected in the

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forward looking statements. Some of these factors are described in the Company’s periodic filings with the Securities and Exchange Commission, including the “Risk Factors” section of Mattel’s Annual Report on Form 10-K for the fiscal year ended December 31, 2010 and Mattel’s Quarterly Reports on Form 10-Q for fiscal year 2011, as well as in Mattel’s other public statements. Mattel does not update forward-looking statements and expressly disclaims any obligation to do so.

MAT-FIN

CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited)

CONDENSED CONSOLIDATED BALANCE SHEETS

SUPPLEMENTAL BALANCE SHEET AND CASH FLOW DATA (Unaudited)