Hasbro's licensing revenue dips in Q3

Results reflect decline in Transformers and GI Joe movie-related revenue; group revenues increase for period.
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A lack of major movie releases has affected Hasbro's entertainment and licensing segment revenues for its third quarter.

Net revenues for the division for the period ending September 26th 2010 were $27.5 million, compared to $41.6 million in 2009. The results primarily reflect a decline in Transformers and GI Joe movie-related revenue.

Entertainment and licensing also reported an operating profit of $5.9 million compared to $19.8 million in 2009.

Overall for Hasbro, net revenues grew by three per cent to $1.31 billion compared to $1.28 billion a year ago.

The toy giant experienced growth in three of its four major product categories. Pre-school grew by nine per cent ($184.7 million), boys was up four per cent ($472.3 million) and games and puzzles grew two per cent ($387.0 million). The girls category declined by one per cent ($269.1 million).

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