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TheStreet Open House

Hasbro Earnings Rise 3.2%


NEW YORK ( TheStreet) -- Hasbro (HAS) reported an increase in third-quarter net earnings as revenue grew in three of the toymaker's four key product categories.

Net earnings rose 3% to $155.2 million, or $1.09 a share, from $150.4 million, or 99 cents, a year earlier. Net revenue increased 3% to $1.31 billion. Analysts, on average, were expecting earnings of $1.04 a share on revenue of $1.29 billion.

During the quarter, net revenue in the preschool category grew 9%, the boys product category increased 4%, and the games and puzzles category increased 2%. The girls category fell 1%. U.S. and Canada segment net revenue grew 4% from the same period in 2009, while international segment net revenue increased 3%.

Entertainment and licensing segment net revenue fell 34%.

Hasbro said it expects a fourth-quarter charge of 25 cents to 30 cents a share from its TV investments for the launch of The Hub earlier this month.

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-- Written by Andrea Tse in New York.



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