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said 2004 earnings will be roughly unchanged from the 94 cents a share it earned in 2003, reflecting a tough retail environment in the fourth quarter and weakness in some U.S. toy markets.

The company sees full-year revenue of $3 billion, down from $3.1 billion in 2003. Analysts surveyed by Thomson First Call were expecting Hasbro to earn $1.21 a share on revenue of $3.07 billion in 2004. The company's 2004 earnings guidance includes pretax charges totaling $25 million.

Hasbro said it will meet its goal of producing free cash flow of $250 million in 2004, and said it will "end the year with significant cash, net of debt -- something we have not achieved since 1997."

The stock rose 33 cents, or 1.8%, to $19.