Hasbro 2nd quarter net income rises
PAWTUCKET, R.I. (AP) — Hasbro says strong demand for its toys like Transformers action figures and its Beyblade spin-top game helped its second-quarter profit jump 33 percent.
The maker of Nerf toys and board games like Monopoly said Monday its net income rose to $58.1 million, or 42 cents per share. That compares to $43.6 million, or 29 cents per share, a year ago.
Excluding a tax adjustment and costs for reorganizing its games department, however, earnings were 33 cents per share.
Analysts expected adjusted earnings of 39 cents per share. Analyst estimates typically exclude one-time items.
Revenue rose 23 percent to $908.5 million. Analysts expected revenue of $848.8 million.
Sales of boys' toys rose 96 percent to $460.4 million. Girls' toys were weaker, down 11 percent to $119.1 million.