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Hasbro 2nd Quarter Profit drops slightly, still on track.

Hasbro 2nd Quarter Profit drops slightly, still on track.

Monday, July 24th, 2006 9:48am CDT

Categories: Toy News, Press Releases
Posted by: AutobotJazz   Views: 16,601
The Associated Press has announced that Hasbro reported that their second quarter profits have fallen eight percent when compared to the same period from last year on Monday. Revenue was $527.8 million in three months ending July 2nd from $572.4 million a year ago. The drop in profit was 5 cents a share from $27.1 milion, compared to $29.5 million a year ago. The profit drop has mainly occurred from an expected drop in sales from Star Wars lines. Other Hasbro staples such as Transformers, GI Joe, Playskool and Nerf all brought in increaed profits. President and CEO of Hasbro Alfred J. Verrecchia says that the company is "on track" for the full-year results despite the small drop in profit and revenue.

Credit(s): Associated Press

This article was last modified on Monday, July 24th, 2006 10:31am CDT

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