Hasbro Inc. has swung to a second-quarter profit, helped in part by cost and debt reductions, as well as growth in core brands and product introductions.
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The second-largest toy maker behind Mattel Inc. Monday reported net income of $11.4 million, or six cents a share, compared to a net loss of $25.9 million, or 15 cents a share, a year earlier.
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Hasbro, whose brands include Playskool, Tonka, Milton Bradley and Parker Brothers, said revenue climbed 6.5% to $581.5 million from $546 million a year earlier.
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At the U.S. toy division, operating profit fell 11% to $12.9 million, but revenue rose 4.4% to $208.4 million despite lower sales of Star Wars products.
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Operating profit at the games division was up 13% to $25.4 million, though revenue slipped 2.3% to $148.6 million.
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Hasbro said it hasn't "significantly" changed its outlook for the year, given the uncertain economic and retail landscape and the fact that the company has about two-thirds of its business yet to ship.
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smartmoney.com
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The second-largest toy maker behind Mattel Inc. Monday reported net income of $11.4 million, or six cents a share, compared to a net loss of $25.9 million, or 15 cents a share, a year earlier.
«
Hasbro, whose brands include Playskool, Tonka, Milton Bradley and Parker Brothers, said revenue climbed 6.5% to $581.5 million from $546 million a year earlier.
«
At the U.S. toy division, operating profit fell 11% to $12.9 million, but revenue rose 4.4% to $208.4 million despite lower sales of Star Wars products.
«
Operating profit at the games division was up 13% to $25.4 million, though revenue slipped 2.3% to $148.6 million.
«
Hasbro said it hasn't "significantly" changed its outlook for the year, given the uncertain economic and retail landscape and the fact that the company has about two-thirds of its business yet to ship.
«
smartmoney.com