Third quarter 2010 net revenues grew three per cent to $1.31bn compared to $1.28bn a year ago. Excluding the negative $16.2m impact of foreign exchange, net revenues grew four per cent. Net earnings grew three prer cent to $155.2m compared to $150.4m a year ago.
Net revenues grew in three of the firm’s four major product categories. Pre-school grew nine per cent to $184.7m; Boys increased four per cent to $472.3m and the Games and Puzzles category increased two per cent to $387m. Girls declined one per cent to $269.1m.
“Innovation across Hasbro's portfolio of world class brands, backed by continued strong execution from our teams globally, drove the third quarter performance,” said Brian Goldner, Hasbro President and CEO.
“Our unwavering commitment to our strategy of re-imagining, re-inventing and re-igniting Hasbro's global brand portfolio continues to unlock profitability in our business while delivering great toys and games and immersive experiences to consumers. We are well positioned for the holiday season with innovative and fun offerings at all price points for global consumers, supported by comprehensive programs with retailers.”
International revenues increased three per cent to $458.9m compared to $444.1m in 2009. Revenues in the International segment grew seven per cent, not including a $17.8 million negative foreign exchange impact.
Entertainment and Licensing segment net revenues were $27.5m compared to $41.6m in 2009, mainly due to the success of last year’s Transformers 2 and GI Joe film properties and the lack of a major film property this year.