Hasbro (HAS) reported a 0.4% decline in its fourth-quarter profit, as weaker domestic sales during the holiday season weighed on the toy maker’s results.
The company said Monday its profit edged down to $129.8 million, or 98 cents a share, from $130.3 million, or 99 cents a share, in the same period a year earlier. Excluding one-time items, adjusted earnings slipped to $1.12 a share from $1.20.
Revenue was down 0.1% at $1.28 billion, just short of Wall Street estimates of $1.3 billion. Hasbro also missed expectations for an adjusted per-share profit of $1.22.
A 19% jump in sales of girls’ products was more than offset by a 16% decline in the boys’ category. Total sales for boys’ and girls’ toys checked in at $349.1 million and $348.8 million, respectively. Sales of games, including Monopoly, were up 2%, while the preschool segment fell 1%.
U.S. and Canada sales slumped 11%. Revenue grew 9% in international markets.
Hasbro also said its board approved a quarterly dividend of 43 cents versus the previous 40 cents, a 7.5% boost. Chief executive Brian Goldner said the company is confident in its ability to grow over the long term, noting Hasbro’s cost savings and Monday’s dividend hike.
“We are entering 2014 with very good momentum in our brands globally, innovative new products and a multi-year pipeline of extremely strong film and television entertainment to leverage,” said Goldner.
Shares jumped 4.8% to $52.48, regaining losses following Mattel’s disappointing earnings report on Jan. 31.