Hasbro (HAS) Reports Q1 Miss on 33% Drop in U.S. Profit
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Selling, distribution and administration: 285.19M
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Financial Fact:
Selling, distribution and administration: 285.19M
Today's EPS Names:
BTTX, VAXX, ELYS, More
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Hasbro, Inc. (Nasdaq: HAS) is trading lower ahead of the opening bell Thursday following first-quarter results from the Pawtucket, RI-based game and toy company.
Net income for the quarter was $17.2 million, or $0.12 per share, compared with $58.9 million reported for the same period last year.
Revenues in the quarter fell slightly from $672.4 million to $672 million.
Overall, analysts were looking for EPS of $0.17 and revs of $661.02 million.
International is where Hasbro showed the most improvement, with sales popping 15 percent to $254.33 million while operating loss narrowed by 29 percent to $1.73 million. The U.S. saw an eight-percent drop in net revenue to $391.15 million, while operating profit fell by 33 percent to $41.01 million.
Hasbro CEO Brian Goldner commented: "2011 is the first year in our multi-year strategic plan in which we will have significant initiatives across all elements of our brand blueprint...he stage has been set for a strong year, and we continue to believe that we will grow revenues and earnings per share for the full-year 2011."
Additionally, Hasbro is planning on ramping-up spending in R&D (already increased 13.6 percent to $45.8 million in the first-quarter). Major theatrical release slated for 2011 include Transformers: Dark of the Moon, Thor and Captain America: the First Avenger.
Shares of Hasbro are trading 3.3 percent lower pre-market.
Net income for the quarter was $17.2 million, or $0.12 per share, compared with $58.9 million reported for the same period last year.
Revenues in the quarter fell slightly from $672.4 million to $672 million.
Overall, analysts were looking for EPS of $0.17 and revs of $661.02 million.
International is where Hasbro showed the most improvement, with sales popping 15 percent to $254.33 million while operating loss narrowed by 29 percent to $1.73 million. The U.S. saw an eight-percent drop in net revenue to $391.15 million, while operating profit fell by 33 percent to $41.01 million.
Hasbro CEO Brian Goldner commented: "2011 is the first year in our multi-year strategic plan in which we will have significant initiatives across all elements of our brand blueprint...he stage has been set for a strong year, and we continue to believe that we will grow revenues and earnings per share for the full-year 2011."
Additionally, Hasbro is planning on ramping-up spending in R&D (already increased 13.6 percent to $45.8 million in the first-quarter). Major theatrical release slated for 2011 include Transformers: Dark of the Moon, Thor and Captain America: the First Avenger.
Shares of Hasbro are trading 3.3 percent lower pre-market.
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