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Hasbro Inc. today reported net revenues of $1.28 billion, compared to $1.30 billion a year ago, a decrease of 2%. The Company reported net earnings of $150.4 million, compared to $138.2 million in 2008. “Hasbro performed well in what is continuing to be a challenging global environment. We grew earnings,” said Brian Goldner, President and Chief Executive Officer. “We believe we can grow revenues in 2009 if our consumer retail takeaway continues to improve in line with recent fourth quarter trends. We also continue to believe that the underlying strength of our brands and our commitment to our strategy will enable us to grow earnings in 2009,” Goldner concluded. U.S. and Canada segment net revenues were $791.9 million, compared to $821.0 million in 2008. The results reflect a strong performance in the boys category offset by declines in girls, preschool and the games and puzzles category. The U.S. and Canada segment reported an operating profit of $129.1 million, compared to $131.9 million in 2008. International segment net revenues were $444.1 million, compared to $460.6 million in 2008. The results reflect growth in boys and preschool categories offset by declines in the girls and the games and puzzles category. The International segment reported an operating profit of $64.1 million compared to operating profit of $65.8 million in 2008. Entertainment and Licensing segment net revenues were $41.6 million, compared to $18.3 million in 2008. The results primarily reflect increases in TRANSFORMERS and G.I. JOE. The Entertainment and Licensing segment reported an operating profit of $19.8 million compared to operating profit of $6.3 million in 2008. The Entertainment and Licensing segment includes television, movies, lifestyle and digital licensing and on-line entertainment operations. “As we look to the remainder of the year, we are well positioned with a broad-based portfolio that is both innovative and priced right for today’s value oriented consumer. We will also continue to focus on managing our business efficiently while investing for the long term,” said Deborah Thomas, Chief Financial Officer. |
