DOW JONES NEWSWIRES
Hasbro Inc.'s (HAS) fourth-quarter earnings rose 77%, smashing
analysts' estimates, as the company's revenue--helped by particular
strength in sales of boys' items and games and puzzles--jumped.
Looking ahead, Hasbro "should be able to grow revenues and
earnings per share" this year, including impacts from the company's
television investments "and absent a deterioration in consumer
spending, global economic conditions or the value of foreign
currencies," said Chairman and Chief Executive Brian Goldner.
Analysts' average expectations were a 1% drop in 2010 revenue and a
3% decline in per-share earnings, according to Thomson Reuters.
The second-biggest U.S. toy maker behind Mattel Inc. (MAT) has
seen recent strength in its products for boys, largely helped by
sales of TV- and movie-related toys that have piggybacked off the
success of their big-screen counterparts. Goldner in October said
that if early positive fourth-quarter sales trends kept up, the
company would be able to post revenue growth for the full
year--which it did.
Hasbro reported a profit of $165.6 million, or $1.09 a share, up
from $93.6 million, or 62 cents, a year earlier. Revenue climbed
12% to $1.38 billion and rose 7% excluding currency impacts.
Analysts polled by Thomson Reuters had most recently forecast
earnings of 81 cents on $1.34 billion in revenue.
Gross margin rose to 59.1% from 56.2%.
Hasbro's boys' segment saw revenue jump 16%, and game-and-puzzle
sales rose 18%. Girls' sales increased 4%.
Mattel last month reported its earnings surged 86% as its
flagship Barbies saw their biggest sales increase in years.
Shares of Hasbro closed at $30.80 Friday and were inactive
premarket.
-By Nathan Becker, Dow Jones Newswires; 212-416-2855;
nathan.becker@dowjones.com;