International Sales Give Hasbro 3Q Boost

By Features FOXBusiness

Hasbro (HAS) reported on Monday a stronger third-quarter profit on sharp sales gains in its international segments and climbing demand for its boys and preschool toys.

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The improved results come as the company continues to expand its presence in global emerging markets, and helped to offset a 7% decline in its U.S. and Canada units. Sales in its international segments increased 23% to $563.3 million, with an operating profit up 42% to $100.7 million.

“Our performance this year demonstrates we are successfully executing our strategy globally,” said Hasbro CEO Brian Goldner in a release. “We begin the fourth quarter with a number of encouraging factors supporting our full-year outlook.”

The maker of games and toys under brands such as PlaySkool, Tonka and My Little Pony, posted net earnings of $171 million, or $1.27 a share, compared with $155.2 million, or $1.09 a share, in the same quarter last year.

Analysts polled by Thomson Reuters were expecting a slightly better profit of $1.30.

Revenue for the Pawtucket, R.I.-based company was $1.38 billion, up 5% from $1.31 billion a year ago, missing the Street’s view of $1.45 billion, helped by growth of 15% and 12%, respectively, in its boys and preschool categories.

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