Hasbro, Inc. reported their fourth quarter earnings report this morning and the fourth quarter results beat the snot out of analyst projections, mainly due to an increase in the boys segment of products (read:
Transformers: Revenge of the Fallen and
GI Joe), which grew 16% last quarter.
Hasbro reported fourth quarter net revenue of 1.38 billion an increase of $144.1 million or 12% (!) compared to $1.23 billion a year ago in 2008.
Profit was $165.6 million, about $1.09 a share, compared to $93.6 million, or 62 cents last year, beating predictions of 81 cents a share by analysts polled by Thomson Reuters.
Annual reports were not as rosy, with a decline of girls and preschool segments, but the boys category continued to be a highlight for the company, which grew 9% to $1.47 billion.
Licensing agreements, including
Revenge of the Fallen also played a big role in the company, which jumped 44% to $155.0 million, from $107.9 a year ago.
Hasbro President and Chief Executive Officer Brian Goldner is upbeat about the prospects for the company in 2010, saying that the company should "be able to grow revenues and earnings per share for the full year 2010, including the dilution from our television investments."
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