Hasbro Inc. (HAS) reiterated its expectations that its joint venture to launch a children's television network will hurt earnings in 2010 by 25 to 30 cents a share and will begin adding to earnings in 2011.

During a conference call Monday with investors, Chief Financial Officer Deborah Thomas said the joint venture, with Discovery Communications Inc. (DISCA), had hurt earnings by 3 cents a share in the fourth quarter and 12 cents a share for the full year 2009.

Hasbro had said the up-front TV work would cut 2009 earnings by up to 14 cents a share, including a 4 to 5-cent hit in the fourth quarter.

Hasbro and Discovery Communications are expected to rebrand Discovery's Discovery Kids network this fall with a new programming lineup that will include some shows based on Hasbro brands, such as My Little Pony, some Discovery Kids programs and some third-party shows.

Earlier Monday, Hasbro reported fourth-quarter earnings rose 77%, smashing analysts' estimates, as strong sales of boys' items and games and puzzles aided results. The No. 2 toy maker also said it should be able to grow revenue and earnings this year, even including the negative impact on profits from the joint venture.

Hasbro shares jumped 12.37% to $34.61 in recent trading.

-By Mary Ellen Lloyd, Dow Jones Newswires, 704-948-9145; maryellen.lloyd@dowjones.com