Hasbro boosted by Star Wars
The ‘Star Wars effect’ has contributed to a rise in Hasbro’s fourth-quarter profit of 15 per cent, exceeding analyst forecasts.
Hasbro said its net earnings for the quarter ended December 25th were $94.3m up from $81.9m a year earlier. Revenue rose 1.2 per cent to $1.07bn from $1.06bn.
For the year, the company earned $212.1m, compared with $196m in 2004.
Revenue rose to $3.1 billion from $3 billion a year ago. But game sales declined nearly 13 per cent and it faces a tough challenge from a drop-off in Star Wars toy interest after the end of the film series. Star Wars toys and games exceeded company expectations and accounted for $494 million in 2005 revenue.
"We expect it to contribute meaningfully to our business this year and next year, but clearly not to the extent it has before," said Al Verrecchia, chief executive and president.
