Strength in sales of boys’ items, games and puzzles boosted Hasbro Inc’s fourth-quarter earnings up 77% in the fourth-quarter. The company reported a fourth-quarter profit of $165.6 million, or $1.09 a share, up from $93.6 million, or 62 cents a share, a year earlier.
Chairman and Chief Executive Brian Goldner took into account the company’s television investments when projecting this year’s higher revenue and earnings per share, while analyst had anticipated a slip in both sales and earnings.
Hasbro, the second-biggest U.S. toy maker behind Mattel, Inc., has seen strength coming from its products for boys, which are aided by sales of toys that have piggybacked off the success of TV programs and movies.
Revenue climbed 12% to $1.38 billion and rose 7% excluding currency effects.
Gross margin rose to 59.1% from 56.2%.
Revenue in Hasbro's boys' segment jumped 16%, and game-and-puzzle sales rose 18%. Sales for girls' products increased 4%.
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