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TheStreet Open House

Hasbro Wins Despite Slower Toy Sales

Stocks in this article: HASMATDISCADISCBDISCK

PAWTUCKET, R.I. ( TheStreet) -- Hasbro (HAS) booked slower quarterly earnings and revenue but profits topped expectations, thanks in part to international sales and cost controls.

Hasbro's net earnings fell 15.4 % to $140 million, or 99 cents per share, down from $165.6 million, or $1.09 per share, in the year-earlier quarter.

Hasbro's net revenue declined 7.2% in the recent quarter to $1.28 billion, attributed in part to a $23.5 million negative impact from foreign exchange.

Hasbro's bottom-line results topped expectation for earnings of $133 million, or 92 cents per share, leading Hasbro shares to bid 1.5% higher Monday morning to $45.49 despite softer year-over-year results.

The toymaker recently pre-warned investors that it would book slower sales in the end-of-year shopping season. The cautionary statement was attributed to relative weakness in U.S. and Canadian markets, despite strength in emerging international markets.

Rival and toy-making industry leader Mattel (MAT) beat fourth-quarter expectations and increased its dividend by 10.8%.

Mattel said improved sales in its core toy brands -- Barbie, Hot Wheels, Fisher-Price and American Girl -- helped drive the quarter's results.

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