Hasbro 3rd-quarter results beat expectations

PAWTUCKET — Toy maker Hasbro Inc. said Monday sales of its Star Wars, Playskool and Nerf toys helped boost third-quarter profit and sales above Wall Street expectations.

The maker of board games such as Trivial Pursuit and Scrabble said profit for the quarter ended Sept. 28 fell nearly 15 percent to $138.2 million, or 89 cents per share, from $161.6 million, or 95 cents, a year ago. However, excluding a hefty tax benefit in the year-ago quarter, net income would have risen about 5 percent.

Pawtucket, R.I.-based Hasbro's revenue gained 7 percent to $1.30 billion from $1.22 billion.

The results topped analysts' average estimates for profit of 86 cents per share on revenue of $1.27 billion, according to a Thomson Reuters poll.

The results come as Barbie doll maker and chief rival Mattel Inc. reported lower-than-expected third-quarter profit on higher costs.

Hasbro's U.S. and Canada revenue grew 6 percent to $821 million, boosted by sales of Star Wars, Playskool, Nerf, Furreal Friends, Baby Alive and board games. International revenue rose 9 percent to $460.6 million, with strong sales of Littlest Pet Shop, Star Wars, Playskool and other toys.

Earnings per share also were helped by Hasbro repurchasing 4 million shares for $150 million during the quarter. The company has repurchased 11.7 million shares for $357.6 million year-to-date.

Back To Top

	Toy makers brace for tough holiday season	Associated Press	Mon Oct 20	0
	Mattel 3rd-quarter profit misses expectations	Associated Press	Mon Oct 20	0
	DuPont 3Q profit falls on charges, cuts 2008 view	Associated Press	Tue Oct 21	0
	Halliburton posts $21M 3Q loss on debt settlement	Associated Press	Mon Oct 20	0
	Netflix 3Q profit rises 30 pct as economy darkens	Associated Press	Mon Oct 20	0