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
International Business Machines Corp. (IBM) Monday predicted that Cyber Monday online sales would grow by more than 18 percent compared to 2014. Driven by a surge in mobile shopping, consumers indicate that Samsung, Sony and LG TVs as well as Apple Watch and Beats by Dre are at the top of their shopping... As the Black Friday din settles down, it is time to look back at how various players and products fared and Adobe has offered some insight into just that. Mobiles and smartphones sold like hot cakes, according to online shopping data released by Adobe. After nearly a 2-year hiatus following its announcement that it is testing unmanned drones, Amazon finally offered a glimpse into the prototype and its functioning. It remains to be see if the company can work around regulatory hurdles to make it a reality.
comments powered by Disqus
Trade HAS now with 
Follow RTT