Hasbro Preschool segment results boost Q2 figures
Hasbro has today announced revenue for its 2012 second quarter of US$811.5 million compared to its US$908.5 million in the previous corresponding period, a net revenue decline of seven per cent.
Profits for the quarter were US$43.4 million down from US$58.1million in 2011.
Hasbro president Brian Goldner said the results were in line with expectations and that the company believes its innovative brand initiatives across product categories and geographies will bear fruit throughout the second half of 2012.
“Absent the impact of foreign exchange, we will again grow revenues and earnings per share. As we have previously stated, we expect two to four per cent more of our full-year revenues to occur in the second half of the year. Within this revenue shift, we also expect the fourth quarter to be greater than the third quarter in both revenues and earnings per share, similar to our historical international results,” he said.
Hasbro's international (non Canada/US) business grew five per cent, with growth in Latin America offsetting declines in Europe and Asia Pacific.
Additionally, the Preschool category contributed to growth, offsetting declines in the Boys, Girls and Games categories.
The Entertainment and Licensing segment net revenues increased 59% to $43.2 million, compared to $27.2 million in 2011, boosted by the sale of television content in all formats in the US and overseas.
The Entertainment and Licensing segment has also returned an operating profit of $8.2 million compared to $0.6 million in 2011.
