Hasbro confident for Q4 after flat Q3 - ToyNews

Hasbro confident for Q4 after flat Q3

Firm eyes revenue and earnings per share growth for the full year.
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Hasbro has reported its financial results for the third quarter of 2012.

Net earnings for the period were $164.9 million (2011: $171.0m), while net revenues grew fractionally by one per cent to $1.35 billion (after a negative $47.4 million impact of foreign exchange), compared to $1.38 billion in 2011.

US and Canada segment net revenues were $774.5 million, an increase of one per cent on the $764.6 million in 2011. Meanwhile, net revenues in the international segment also grew one per cent, absent of the negative $47.1m impact of foreign exchange.

Including this impact, international net revenues actually declined by seven per cent to $524.1 million.

Revenue in the international segment reflects nine per cent growth in Latin America, offset by a decline in Europe and Asia Pacific.

Entertainment and licensing segment net revenues were $43.1 million compared to $46.3 million in 2011.

In the boys category, net revenues decreased 12 per cent to $471.1 million. Marvel products continued to post strong year over year gains globally, which were more than offset by expected declines in Transformers and Beyblade product.

Net revenues in the games category were flat in the quarter at $365.7 million, while the girls category saw growth of 17 per cent to $302.3 million. Several new initiatives - including Furby and One Direction product - launched in the quarter, while My Little Pony continued to deliver.

Finally, net revenues in pre-school declined by five per cent to $206.0 million.

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