Tuesday, February 8, 2011

Hasbro: profits fall 16%

The toymaker Hasbro (NYSE: HAS) saw its net income fall 16 percent in the fourth quarter, when demand dropped games to the United States.The fourth quarter is critical for U.S. toy manufacturers since it includes the holiday season year end, which is sometimes almost a third of their annual income. 
Hasbro said Monday it posted a net profit of U.S. $ 140 million, or 99 cents per share, during the three months ended Dec. 26, compared to net income of U.S. $ 165.6 million, or 1, $ 09 per share, realized during the same quarter a year ago.
Analysts approached by FactSet had expected a net profit of 93 cents per share.

Revenues fell seven percent to 1.28 billion U.S. dollars, against 1.38 billion USD.

Over the full year, Hasbro has posted a net profit of U.S. $ 397.8 million, or $ 2.74 per share, up six per cent compared to 374.9 million U.S. $ or $ 2.48 per share, last year. Revenues fell by two percent to U.S. $ 4 billion, against U.S. $ 4.07 billion.

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