Integration

HISSTANK · 10-19-2009, 12:20 PM

Originally posted by: Shin Densetsu @ Hisstank.com

Quote:

Bloomberg.com has posted an article with regards to how the sales of G.I. Joe Rise of Cobra toys as well as Transformers Revenge of The Fallen toys have raised Hasbro's 3rd quarter profit by 8.8%:

Hasbro Inc., the world’s second- largest toymaker, said third-quarter profit rose 8.8 percent from sales of toys based on the “Transformers” and “G.I. Joe” movies.

Net income rose to $150.4 million, or 99 cents a share, from $138.2 million, or 89 cents, a year earlier, the Pawtucket, Rhode Island-based company said today in a Business Wire statement. Revenue declined 1.7 percent to $1.28 billion, driven down by foreign exchange rates.

Products based on the films “Transformers: Revenge of the Fallen” and “G.I. Joe: The Rise of Cobra” have added to Hasbro’s revenue for the past two quarters. Sales of the action figures were a “lone bright spot” in the retail environment, according to Chris White, an analyst at Wedbush Morgan Securities in Los Angeles.

“Looking forward to next year, comparisons get more difficult, as the company will have one big film-oriented product line associated with the release of ‘Iron Man 2’ in early May, as compared to three prominent film entertainment lines -- ‘X-Men,’ ‘Transformers,’ ‘G.I. Joe’ -- this year,” White wrote in an Oct. 14 note.

On a currency-neutral basis, net revenue climbed 1 percent. The company reduced spending on research, advertising and other expenses, further bolstering profit.

Analysts projected profit of 92 cents a share and sales of $1.33 billion, the average of estimates compiled by Bloomberg.

Hasbro rose 83 cents, or 2.9 percent, to $29.52 on Oct. 16 in New York Stock Exchange composite trading. The shares have gained 1.2 percent this year.

Hasbro reported costs of 3 cents a share from the 50-50 joint venture with Discovery Communications Inc. announced in April. It includes a television network and Web site dedicated to children’s and family entertainment and educational programming.

Read More: Hasbro 3Q Profit Up By 8.8 Percent Due In Part To G.I. Joe Rise Of Cobra Sales @ G.I. Joe - HissTank.com.

10-19-2009, 12:20 PM	#1813
HISSTANK Join Date: Nov 2008 Posts: 6,797	Originally posted by: Shin Densetsu @ Hisstank.com Quote: Bloomberg.com has posted an article with regards to how the sales of G.I. Joe Rise of Cobra toys as well as Transformers Revenge of The Fallen toys have raised Hasbro's 3rd quarter profit by 8.8%: Hasbro Inc., the world’s second- largest toymaker, said third-quarter profit rose 8.8 percent from sales of toys based on the “Transformers” and “G.I. Joe” movies. Net income rose to $150.4 million, or 99 cents a share, from $138.2 million, or 89 cents, a year earlier, the Pawtucket, Rhode Island-based company said today in a Business Wire statement. Revenue declined 1.7 percent to $1.28 billion, driven down by foreign exchange rates. Products based on the films “Transformers: Revenge of the Fallen” and “G.I. Joe: The Rise of Cobra” have added to Hasbro’s revenue for the past two quarters. Sales of the action figures were a “lone bright spot” in the retail environment, according to Chris White, an analyst at Wedbush Morgan Securities in Los Angeles. “Looking forward to next year, comparisons get more difficult, as the company will have one big film-oriented product line associated with the release of ‘Iron Man 2’ in early May, as compared to three prominent film entertainment lines -- ‘X-Men,’ ‘Transformers,’ ‘G.I. Joe’ -- this year,” White wrote in an Oct. 14 note. On a currency-neutral basis, net revenue climbed 1 percent. The company reduced spending on research, advertising and other expenses, further bolstering profit. Analysts projected profit of 92 cents a share and sales of $1.33 billion, the average of estimates compiled by Bloomberg. Hasbro rose 83 cents, or 2.9 percent, to $29.52 on Oct. 16 in New York Stock Exchange composite trading. The shares have gained 1.2 percent this year. Hasbro reported costs of 3 cents a share from the 50-50 joint venture with Discovery Communications Inc. announced in April. It includes a television network and Web site dedicated to children’s and family entertainment and educational programming. Read More: Hasbro 3Q Profit Up By 8.8 Percent Due In Part To G.I. Joe Rise Of Cobra Sales @ G.I. Joe - HissTank.com. __________________