logo
Share SHARE
FONT-SIZE Plus   Neg

Hasbro Q2 Profit Misses View - Quick Facts

Toy maker Hasbro Inc. (HAS) posted lower second-quarter reported net earnings of $36.48 million, or $0.28 per share, compared with $43.43 million, or $0.33 per share a year back.

Excluding pre-tax partial pension settlement charges of $2.5 million, or $0.01 per share, associated with previously disclosed restructuring actions, adjusted net earnings for the period were $38.3 million, or $0.29 per share. On average, 13 analysts polled by Thomson Reuters expected earnings per share of $0.34 for the quarter. Analysts' estimates typically exclude one-time items.

During the recent quarter, the firm clocked $766.3 million in net revenues, down 6% from last year's $811.5 million, whereas 11 analysts estimated revenues of $794.71 million for the quarter.

As announced earlier, the firm is undertaking a cost savings initiative designed to better align resources and costs while targeting $100 million in annual savings by 2015. The gross savings expectation for 2013 continues to be $45 million - $48 million, resulting in expected net savings of $13 million - $15 million for the year, prior to pension charges.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Shares of Samsung Electronics Co Ltd (SMSN.L, SSNNF.OB, SSNLF.OB) were gaining around 4 percent in the trading in South Korea after the company reported significant growth in its first-quarter profit with higher sales mainly in memory and display businesses. For the full year, the company expects overall earnings to grow from last year. Samsung Electronics Co Ltd (SMSN.L, SSNNF.OB, SSNLF.OB) reported that its net profit for the first-quarter of 2017 rose 46% to 7.68 trillion South Korean won or $6.8 billion from 5.25 trillion won for the same period a year earlier. The company said that it would not adopt a holding company structure. Casino operator Las Vegas Sands Corp. (LVS), Wednesday reported an increase in profit for the first quarter, gambling business in Macao, China, the world's biggest gambling market, revives. Earnings for the quarter trumped Wall Street expectations, as did revenues. First-quarter profit rose to $480...
comments powered by Disqus
Follow RTT