Net revenues of $1.3 billion reported as Star Wars, Transformers, Playskool and Littlest Pet Shop continue to perform.Toy giant Hasbro has reported third quarter net revenues of $1.3 billion, an increase of $78.9 million or six per cent compared to a year ago.
The company reported net earnings for the quarter of $138.2 million compared to $161.6 million in 2007. The 2007 results for the quarter include a favourable tax adjustment of $29.6 million - excluding this, 2007 net earnings for the period would have been $132.0 million.
US and Canada segment revenues for Q3 were $821.0 million, an increase of $47.5 million on 2007. The growth in revenue can be attributed to the continued success of Star Wars, as well as Playskool, Nerf, Furreal Friends, Baby Alive, trading cards and board games including Trivial Pursuit and Scrabble.
Additionally, Transformers and Littlest Pet Shop continue to contribute significantly.
On an international basis, segment net revenues for the quarter were $460.6 million, an increase of $37.4 million. Again, growth for Littlest Pet Shop, Star Wars, Playskool, Furreal Friends, Baby Alive and board games like Monopoly and Guess Who was attributed to the increase. Transformers was also a strong performer.
"We are very pleased with our third quarter and year-to-date performance," said Brian Goldner, president and CEO at Hasbro. "In a challenging environment, we delivered both revenue and earnings growth. As we look to the remainder of the year, we are well positioned with the richest and most diversified portfolio of brands in the industry."