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Hasbro Management Discusses Q2 2012 Results - Earnings Call Transcript

Our International revenues continue to benefit from our expansion into emerging markets, innovation in Hasbro brands, as well as global entertainment in both films and television programming. Year-to-date, all major geographic markets are up, excluding currency translation. In the second quarter, Latin America posted strong growth, up 15% and up nearly double that, absent foreign exchange. Excluding foreign exchange, Asia Pacific was up slightly, and Europe was down approximately 1%, given the challenging comparisons with Transformers and Beyblade last year. Through new markets and share expansion backed by innovative products and engaging marketing programs, we're in a position to grow off last year's strong performance despite facing a persistently challenging global economic environment.

Our performance overall reflected the shipment timing and retail inventory reductions in the U.S. and Canada, as well as difficult comparisons versus Transformers and Beyblade last year. As a result, revenues in the Boys category declined 16%. Sales of Marvel properties, driven by tremendous performance at the box office, were very strong. Marvel's The Avengers is ahead of expectations, and The Amazing Spider-Man is just getting started. The strength in Marvel was offset by declines in Transformers and Beyblade within the Boys category.

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