Hasbro Earnings Top Estimates

Updated from 7:21 a.m. EDT

PAWTUCKET, R.I. (TheStreet) -- Hasbro(HAS Quote) said third-quarter earnings rose 8% to $150.4 million, or 99 cents a share, as sales dipped slightly.

The toy maker said third-quarter sales were $1.28 billion from $1.3 billion a year earlier.

The latest quarter included a dilutive impact of 3 cents a share from its investment in a joint venture with Discovery Communications.

Analysts surveyed by Thomson Reuters expected Hasbro to report earnings of 93 cents a share on revenue of $1.32 billion.

Hasbro, in a press release Monday, said U.S. and Canada segment net revenue fell slightly to $791.9 million from $821 million in 2008. The results reflect a strong performance in the boys category offset by declines in girls, preschool and the games and puzzles categories.

Entertainment and licensing segment net revenue in the third quarter was $41.6 million, up from $18.3 million in 2008 on increases at its Transformers and G.I. Joe lines. Operating profit in the segment rose to $19.8 million from $6.3 million in the same period of 2008.

-- Reported by Joseph Woelfel in New York .

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