Hasbro Tops Estimates, Earnings Rise 77% - TheStreet

Hasbro Tops Estimates, Earnings Rise 77%

The toy maker said fourth-quarter earnings rose 77% as investments paid off and revenue rose 12%.
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PAWTUCKET, R.I. (

TheStreet

) --

Hasbro

(HAS) - Get Report

, the toy maker, said fourth-quarter earnings rose 77% as investments paid off and revenue rose 12%.

Hasbro earned $165.6 million, or $1.09 a share, in the fourth quarter, up from $93.6 million, or 62 cents a share, a year earlier. Analysts surveyed by Thomson Reuters expected Hasbro to earn 81 cents a share.

Net revenue in the fourth quarter rose 12% to $1.38 billion; analysts forecast $1.34 billion.

"Continued investments in our business, including the joint venture with

Discovery Communications

(DISCA) - Get Report

to form The Hub television network, the creation of Hasbro Studios, establishing a local presence in emerging geographies and securing long-term key licenses, position us not only for the success we had in 2009 but over the long term as we execute our branded play strategy globally," said Brian Goldner, CEO and president, in a statement Monday.

Hasbro said it ended the year with $636 million in cash.

-- Reported by Joseph Woelfel in New York.

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