Hasbro, Inc. (HAS) Tops Q1 EPS by 1c; Updates on Cost-Savings Initiative

Hasbro, Inc. (NASDAQ: HAS) reported Q1 EPS of $0.05, $0.01 better than the analyst estimate of $0.04. Revenue for the quarter came in at $663.7 million versus the consensus estimate of $637.1 million.

As previously announced, the Company is undertaking a cost savings initiative designed to better align resources and costs while targeting $100 million in annual savings by 2015.

During the first quarter 2013, the Company incurred $28.9 million in pre-tax charges, or $0.14 per diluted share, associated with this initiative. The Company currently expects full year charges of $30 to $35 million, prior to potential pension charges. Potential pension charges could be up to $10 million dependent on the type of benefit payments pension participants request during the remainder of 2013.

Gross savings for 2013 are now expected to be $45 to $48 million, resulting in expected net savings of $13 to $15 million for the full-year, prior to potential pension charges.

For earnings history and earnings-related data on Hasbro, Inc. (HAS) click here.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Blackhawk Network (HAWK) Reports Q2 Loss of $0.07; Offers Guidance
• LogicBio Therapeutics (LOGC) Misses Q2 EPS by 10c
• 4D Molecular Therapeutics, Inc. (FDMT) Misses Q2 EPS by 3c