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February 11, 2008

Hasbro boosts profits, revenues

Sales of Transformer action figures and purchases by consumers in foreign countries helped boost Hasbro's fourth quarter profits by 24 percent.

Net income rose to $133.7 million, or 84 cents a share, from $108.3 million, or 62 cents a share, in the year earlier period.

Sales increased 16 percent to $1.3 billion, the Pawtucket-based toymaker said. International sales climbed 29 percent to $489.2 million in the quarter. North American revenue rose 7.6 percent to $766.8 million.
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Hasbro's profits and sales exceeded forecasts by Wall Street analysts surveyed by Bloomberg News. The surveys estimated Hasbro would post average profit of 81 cents a share and average sales of $1.22 billion.

Shares of Hasbro (HAS:NYSE) closed Friday at $25.87 and are up 1.1 percent in 2008.

-- John Kostrzewa

Posted by Jack Perry  at 8:33 AM | Permalink

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