Hasbro's First-Quarter Loss Widens on Charges

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PAWTUCKET, R.I. -- Hasbro says its first-quarter loss widened as the toy maker absorbed heavy restructuring charges and foreign exchange rates flattened its international revenue.

But the performance still topped Wall Street expectations.

The Pawtucket, R.I., maker of Transformers, My Little Pony and Monopoly, said its revenue rose in the quarter. The company noted that its "Save Your Token" campaign, which let people vote on saving one of the board game's token, was "tremendously successful" and helped lift revenue from its games category.

Its girls and preschool categories, which include Furby and Play-Doh, respectively, also saw growth. But the boys category continued to face challenges, with revenue down 20 percent.

For the quarter, Hasbro Inc. (HAS) lost $6.7 million, or 5 cents a share. That compares with a loss of $2.6 million, or 2 cents a share, a year ago.

When stripping out the impact of a restructuring charge and tax adjustments, Hasbro Inc. said earned 5 cents a share. Analysts expected adjusted earnings of 4 cents a share.

Revenue rose more than 2 percent to $663.7 million despite a hit of more than $3 million from foreign exchange rates.

In North America, revenue growth of 4 percent was driven by the girls and games categories. International revenue was flat, or up 1 percent when excluding the impact of foreign exchange rates. The increase was driven by growth in Latin America and Asia, as well as the games, girls and preschool categories.

Analysts expected $642.1 million in revenue.

Hasbro shares closed at $45.02 a share last Friday.

(Updated at 8:18 a.m. ET)

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We're none of these. We're early 30s married 8 1/2 years 1 kid 2br condo in a suburb. However, out income is closer to $35,000 and we shop at Target, Kohls, JC Penny (less though due to selections), Home Depot, and my favorite, our local nursery. I'm a SAHM for medical reasons. In a twisted way I don't mind stores doing a little data collection on me because it means less junk mail and a larger percentage of what I do get are things we could actually use. It's nice that by the time my son was 2 we stopped getting baby fliers (until our recent rash of baby showers). However, these data collection methods are flawed. My area is mostly upper middle class meaning most of the stores and ads we are surrounded by don't match our income.

April 22 2013 at 3:18 PM Report abuse rate up rate down Reply