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April 21, 2008

Hasbro 1Q profit grows 14 percent

PAWTUCKET -- Toymaker Hasbro Inc.'s earnings rose 14 percent in the first quarter of 2008 on growth in brands such as Transformers and Littlest Pet Shop.

The world's second biggest toy company said today that its profit rose to $37.5 million, or 25 cents per share, for the three months ended March 30 from $32.9 million, or 19 cents per share, during the same quarter a year ago.

The results beat the expectations of analysts polled by Thomson Financial, who had predicted net income of 14 cents per share.

Sales grew 13 percent to $704.2 million from $625.3 million a year ago.

The company said international revenue rose 22 percent to $248.3 million, while revenue in the U.S. and Canada segment grew 6 percent to $428.5 million.

-- The Associated Press

Posted by Jack Perry  at 8:58 AM | Permalink

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