Transformers and Beyblade drive Hasbro Q2

Samantha Loveday

By Samantha Loveday

July 19th 2011 at 10:44AM
Transformers and Beyblade drive Hasbro Q2

Net revenues grow 23 per cent to $908.5m; but entertainment and licensing sector dips.

Hasbro has reported its results for the second quarter - with Transformers: Dark of the Moon and Beyblade helping to boost the company overall, however revenues in the entertainment licensing division actually declined.

Revenues for the segment were down 11 per cent to $27.2 million, compared to $30.5 million in 2010. This was mainly attributed to lower movie-related revenue versus the second quarter 2010, partially offset by higher revenue from television programming.

Licensing revenue associated with Transformers: Dark of the Moon will begin to be recorded in the third quarter.

In addition, the entertainment and licensing segment reported an operating profit of $0.6 million compared to $13.0 million in 2010.

Overall, however, Hasbro reported an increase of 23 per cent in net revenues to $908.5 million, plus an increase in net earnings to $58.1 million.

International performed well, with revenues up 43 per cent to $374.5 million and growth in every major geographic region.

"We have continued to make important investments in our business which will help drive both top and bottom line growth in the future," said Brian Goldner, president and CEO at Hasbro.

Meanwhile, Hasbro will be showcasing a range of its brands this week at San Diego Comic-Con. Nerf, GI Joe, Kre-o, Marvel, My Little Pony, Star Wars and Transformers products will all be on the firm's booth.