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Boys' Toys Pull Hasbro (HAS) Revenue Lower

NEW YORK (TheStreet) -- Toy company Hasbro (HAS) suffered lower sales over its year-ended quarter as products in its boys category tumbled 16% compared to a year earlier.

In its boys category, which includes franchises such as Transformers and Nerf, fell 16% over the quarter to $349.1 million in sales, and 22% for the full year to $1.24 billion.

Its girls category, which includes Furby and My Little Pony, posted its sixth consecutive quarter of growth, up 19% over the quarter to $437.4 million and 26% for the year to $1.3 billion.

Excluding restructuring charges, pension costs and other one-time charges, per-share earnings came in at $1.12, with revenue $1.28 billion, flat on the year-ago quarter. Analysts polled by Thomson Reuters had expected net income of $1.22 a share on sales of $1.3 billion.

"As our Franchise Brands have grown through our focused efforts, we have also incurred short-term costs to exit certain non-strategic brands," said CFO Deborah Thomas in a statement.

Must Read: Has Barbie Lost Her Sparkle?

Must Read: Hasbro (HAS) Trading with Heavy Volume Before Market Open

TheStreet Ratings team rates HASBRO INC as a Buy with a ratings score of B. The team has this to say about their recommendation:

"We rate HASBRO INC (HAS) a BUY. This is driven by some important positives, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, solid stock price performance and expanding profit margins. We feel these strengths outweigh the fact that the company has had sub par growth in net income."

Stock quotes in this article: HAS 

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