Shares are down about 5.5% in pre-market trading after the company behind Transformers and cable’s The Hub kids’ channel reported soft results for the last three months of 2011. Hasbro generated net earnings of $139.1M, down 6.3% vs the period last year, on revenues of $1.33B, up about 4%. Analysts expected revenues to come in slightly higher, at $1.34B. Earnings, at $1.06 a share, were a penny ahead of forecasts. Hasbro’s entertainment and licensing unit more than held its own: Its operating profit grew 44% to $21.5M on revenues of $64.1M, up 20%. The company says the operation thrived from sales of TV shows overseas, as well as from movie and merchandise revenues from Transformers: Dark Of The Moon. But that didn’t seem to help the games and puzzles category where revenues fell 11% to $370.6M. “Despite the challenges we encountered in 2011, we grew our business, effectively managed our capital structure and maintained a healthy balance sheet,” CEO Brian Goldner says.
By DAVID LIEBERMAN, Executive Editor | Monday February 6, 2012 @ 7:34am ESTTags: Hasbro, The Hub, Transformers: Dark of the Moon
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This article was printed from http://www.deadline.com/2012/02/hasbros-4q-entertainment-gains-offset-by-losses-in-games/
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