Boys, girls and games categories grow for Hasbro in Q3 2014

Net revenues for the third quarter 2014 increased seven per cent to $1.47 billion.
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Hasbro has revealed its financial results for Q3 2014.

Net revenues for the third quarter 2014 increased seven per cent to $1.47 billion compared to $1.37 billion in 2013. 

Net earnings for the third quarter 2014 were $180.5 million, or $1.40 per diluted share, compared to $126.6 million, or $0.96 per diluted share, in 2013.

Entertainment and Licensing segment net revenues increased 10 per cent to $53.4 million compared to $48.6 million in 2013, while Hasbro's boys category revenues increased 22 per cent to $478.5 million in Q3 2014, with Nerf, Transformers, Marvel and Star Wars products driving the growth.

Elsewhere, Hasbro's games category revenues increased two per cent in the third quarter to $395.2 million. Magic: The Gathering, Simon Swipe, Operation and Monopoly all grew in Q3.

These gains were partially offset by declines in several brands, including Angry Birds Star Wars II's Telepods, Jenga, Bop-It and Duelmasters.

The Girls category grew five per cent in the third quarter 2014 to $407.7 million.

Growth in My Little Pony, My Little Pony Equestria Girls, Nerf Rebelle, Furreal Friends, Littles Pet Shop and the introduction of Play-Doh Dohvince helped fuel growth in the category while declines in Furby partially offset these revenue gains.

Finally, pre-school category revenues decreased seven per cent to $188.5 million in the third quarter 2014.

"Our third quarter results continued to reflect the momentum we are building in our franchise brands and key partner brands, the positive results of our investments globally and the benefits of leading with compelling content and storytelling," said Brian Goldner, Hasbro's president and chief executive officer.

"In the third quarter, we grew revenues across all operating segments, delivered improved profitability and took strategic steps to grow our brand portfolio and content delivery over the longer term, including forming a new strategic merchandising relationship with Disney Consumer Products for the globally popular Disney Princess and Frozen properties."

Deborah Thomas, Hasbro's chief financial officer, added: "Our third quarter results are indicative of Hasbro's strong financial and competitive position.

"In this environment of growth and financial strength, we remain focused on improving profitability, returning cash to our shareholders and investing back into our business, through investments in innovation, systems and portfolio expansion across our blueprint."

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