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Hasbro sales up 12 per cent - ToyNews

Hasbro sales up 12 per cent

Firm reports stronger-than-expected quarterly profit, due largely to sales of the Transformers range
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Hasbro has reported its fourth quarter and full year 2009 results.

The firm's Q4 net profit rose to $165.6 million, from $93.6 million a year earlier.

Net sales rose 12 per cent to $1.38 billion, beating analysts' average forecast of $1.34 billion. Revenue from the boys' segment rose 16 per cent in the quarter.

For the full year 2009, the company reported sales of $4.07 billion, an increase of $46.4 million or one per cent, compared to $4.02 billion a year ago.

Net profit for the full year was $374.9 million, an increase of $68.1 million or 22 per cent from $306.8 million in 2008.

Brian Goldner, president and chief executive officer commented: “We are extremely pleased with our fourth quarter and full-year results that demonstrate Hasbro’s strategy is working. The Hasbro teams around the globe performed at a high level in 2009, delivering innovation and strong marketing programs to our consumers and retailers.

"The result is our fifth consecutive year of revenue growth and ninth consecutive year of E.P.S. growth, achieved in a challenging global economy.

"Continued investments in our business, including the joint venture with Discovery Communications to form The Hub television network, the creation of Hasbro Studios, establishing a local presence in emerging geographies and securing long-term key licenses, position us not only for the success we had in 2009 but over the long term as we execute our branded play strategy globally.”

In 2010, the firm will only present licensed ranges from two films Iron Man 2 and Toy Story 3.

However, it has a bigger line-up in 2011, with Stretch Armstrong, Spider-Man 4, Transformers 3, The First Avenger: Captain America and a movie based on the board game Battleship all set to hit the big screen.

Some investors also expect the firm's cable joint venture with Discovery to give it a boost in 2011.

Last December, Hasbro also signed a ten-year deal to make and sell toys and games based on characters from Sesame Street.

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