Licences help boost Hasbro

Samantha Loveday

By Samantha Loveday

February 11th 2008 at 4:44PM
Licences help boost Hasbro

Transformers, Star Wars and Marvel product lines all contribute to record net earnings in 2007 for toy firm.

Hasbro's full year financials have seen it post record net earnings for the third consecutive year, with licensed products based on hit film Transformers and Marvel properties helping it to achieve some high numbers.

For the full year, Hasbro reported record net earnings of $333.0m, compared to $230.1m in 2006. The 2007 figures do include a favourable tax adjustment of $29.6m that was taken in the third quarter.

Operating profit improved 38 per cent to $519.4 million.

Worldwide net revenues for the year were $3.8 billion, an increase of $686.1m, or 22 per cent, compared to $3.2 billion a year ago.

Meanwhile, highlights of the fourth quarter included net earnings of $133.7 million, an increase of 24 per cent and net revenues of $1.3 billion, up 16 per cent from a year ago.

"Revenues were up 22 per cent for the year and 16 per cent for the quarter, as the business continued to be strong both in terms of category and geographic performance, providing us with momentum going into 2008," said Alfred Verrecchia, president and CEO.

North American segment revenues were $2.5 billion - up 15 per cent - mainly thanks to the success of the Transformers toy line, plus Marvel product lines and such evergreens as My Little Pony, Littlest Pet Shop and Star Wars.

Internationally, net revenues grew 33 per cent from the previous year to $1.3 billion. Again, the Transformers and Marvel ranges were cited as key players, along with Star Wars.