During the call this morning, Brian will discuss key factors impacting our results and Deb will review the financials. We will then open the call to your questions.Before we begin, let me note that during this call and the question-and-answer session that follows, members of Hasbro management may make forward-looking statements concerning management's expectations, goals, objectives and similar matters. These forward-looking statements may include comments concerning our product and entertainment plan, anticipated product performance, business opportunities and strategies, costs, financial goals and expectations for our future financial performance in achieving our objective. There are many factors that could cause actual results and experience to differ materially from the anticipated results or other expectations expressed in these forward-looking statements. Some of those factors are set forth in our annual report on Form 10-K, in today's press release and in our other public disclosures. We undertake no obligation to update any forward-looking statements made today to reflect events or circumstances occurring after the date of this call. Now, I would like to introduce Brian Goldner. Brian? Brian Goldner Thank you, Debbie. Good morning, everyone, and thank you for joining us today. Our global teams continued to execute our long-term strategy through the second quarter. Heading into Q2, we knew it would be a challenging quarter, as we faced difficult comparisons with the initial movie ship-ins last year for both TRANSFORMERS and G.I. JOE. In fact, the revenue decline from these two brands combined was $174 million in the quarter. This decline was partially offset by gains of $120 million across the remainder of our brand portfolio and backed by strong execution of our team globally. Overall, revenue declined 7% in the quarter, as several of our brands and product categories grew. I will provide more insight on this performance in a moment.
Despite lower year-over-year revenues, we increased operating profit 9% from the second quarter last year. Our ability to improve operating profit clearly illustrates the operating leverage we are unlocking in our business. We continue to expect our revenue to be more heavily weighted to the back half of the year, as our major initiatives are beginning to launch.For the full year 2010, we still believe we should be able to grow revenues and earnings per share, including the dilution from our television investments and barring a further decline in foreign exchange, consumer spending or global economic conditions. Reviewing our second quarter performance, the Games and Puzzles category up 22% and Preschool up 32%, both posted strong growth as did several of our mega brands including Magic The Gathering, which continues to perform extremely well; MONOPOLY celebrating its 75th anniversary this year; NERF showing strong growth both in the U.S. and through international expansion; and PLAYSKOOL, which is seeing growth across a number of initiatives including infant learning and MR. and MRS. POTATO HEAD, who are leading characters in TOY STORY 3. Other brands contributing the growth include FURREAL FRIENDS, PLAY-DOH, OPERATION, BABY ALIVE, STRAWBERRY SHORTCAKE, TONKA and IRON MAN. We have said this year would be about singles and doubles, meaning it would be a year when we are driving growth across the breadth of our portfolio. Year-to-date, revenue is down just $3 million versus year ago. Over the coming months we have number of initiatives launching. In the Boys' category, BEYBLADES is off to a promising early start in Canada and is just staring to hit shelves in the U.S. Programming is on air in both markets. Programming in products are also scheduled for major European markets, Mexico, Australia, New Zealand this year. NERF and the newly rebranded NERF SUPER SOAKER have been strong contributors to growth in the first half of the year, and in the second half, we have major new products launches slated.
In Girls, LITTLEST PET SHOP is adding an exciting new play pattern inspired by our consumer insight work with BLYTHE LOVES LITTLEST PET SHOP. Also, FURRY FRENZIES within our FURREAL FRIENDS line will be hitting retail this fall. In Preschool, our entrance into the electronic learning aid category with ALPHIE is off to a good start. PLAY-DOH is adding SESAME STREET to its line and CHUCK MY TALKING TRUCK will get additional support from new programming on THE HUB.Finally, in Games and Puzzles, we continued to innovate our evergreen brands with creative play, while introducing exciting new brands. CUPONK, our new seen ball in cup game, is off to a good start. SCRABBLE FLASH, MONOPOLY REVOLUTION and our new line of construction games under the U-Build brand are just a few additional highlights for the second half of the year. We will support these initiatives with the continuation of our successful, global FAMILY GAME NIGHT initiative including a new marketing campaign this fall. We also feel very positive about our new network. This fall, THE HUB, our children's television network with Discovery, is on schedule to launch on 10/10/10. At this point, Margaret Loesch and her team have announced much of the programming, completed all the acquisition deals for the fall launch and continue to finalize the schedule. Read the rest of this transcript for free on seekingalpha.com