Hasbro (NYSE:HAS) released uneven fourth-quarter results on Monday as the maker of Nerf footballs and other toys posted stronger-than-expected profits, but its revenue trailed consensus calls.
The Pawtucket, R.I.-based toy maker said it earned $140 million, or 99 cents a share, last quarter, compared with a profit of $165.6 million, or $1.09 a share, a year earlier.
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Excluding one-time items, it earned $1.02 a share, topping the Street’s view of 92 cents.
However, sales declined 7% to $1.28 billion, compared with consensus calls for $1.3 billion. Gross margins decreased to 15.7% from 17.7%.
“We have a lot to feel good about for 2010,” CEO Brian Goldner said in a statement. “International revenues grew, driven by a strong performance in the emerging markets; several of Hasbro’s core brands performed well, enabling us to grow market share across multiple product categories; and we delivered record net earnings and our tenth consecutive year of earnings per share growth, while continuing to invest in long-term opportunities.”
Shares of Hasbro, which also makes Monopoly board games and G.I. Joe, rose 0.83% to $45.22 Monday morning. The stock has declined 5% year-to-date.