Hasbro posts poor earnings

Hasbro posts poor earnings

Wednesday, October 20th, 2004 9:11pm CDT

Category: Site News
Posted by: Razorclaw0000   Views: 15,968
Well, it seems like not even Hasbro is immune to poor sales and a stagnant economy world-wide.

From Fox News:

No. 2 Hasbro Inc. (HAS) posted higher third-quarter earnings as it cut costs, but the results were weaker than expected, with revenue down 2 percent as sales of its once-hot Beyblade continued falling.

Hasbro said third-quarter net income rose to $88.7 million from $85.8 million, while earnings per share fell to 45 cents from 48 cents per share on an increase in average shares outstanding.

Analysts, on average, estimated profit of 51 cents per share from Hasbro, the maker of My Little Pony (search) and Transformers, according to Reuters Estimates.

Revenue fell 2 percent to $947.3 million from $971.1 million.

Hasbro Chief Executive Alfred J. Verrecchia said third quarter top-line performance was "disappointing," with a "challenging" environment and softness in the boys' division.

He said Hasbro was confident it could continue to increase earnings over the rest of the year as it cut costs and achieved its operating margin goal of 12 percent or better by 2005.

"However, given our top line performance year-to-date and the uncertain retail environment, it is increasingly unlikely that we will achieve our goal of revenue growth for 2004," Verrecchia said in a statement.

See the original thread at 2005 here.

Credit(s): 2005, Motor_Master

News Search

Got Transformers News? Let us know here!

Most Popular Transformers News

Most Recent Transformers News

Featured Products on Amazon.com

Buy "Transformers: Generations Power of The Primes Legends Class Roadtrap" on AMAZON
Buy "Transformers Authentics Grimlock Action Figure" on AMAZON
Buy "Transformers Toys Megatron Cyberverse Ultimate Class Action Figure - Repeatable Fusion Mega Shot Action Attack Move - Toys for Kids 6 and Up, 11.5-inch" on AMAZON
Buy "Transformers Titans Return Repugnus, Dastard, and Solus Prime Prime Master" on AMAZON
Buy "Transformers Generations Power of The Primes Deluxe Class Terrorcon Blot" on AMAZON
Buy "Transformers: Generations Power of The Primes Evolution Optimal Optimus" on AMAZON
Buy "Transformers: Generations Power of The Primes Voyager Class Grimlock" on AMAZON
Buy "Transformers Deluxe Ratchet Action Figure" on AMAZON
Buy "Transformers Generations Titans Return Deluxe Slugslinger and Caliburst" on AMAZON
Buy "Transformers Studio Series 01 Deluxe Class Movie 1 Bumblebee" on AMAZON
Buy "Transformers: Generations Power of The Primes Micronus Prime Master" on AMAZON
Buy "Transformers Generations Combiner Wars - MEGATRON Figure" on AMAZON
Transformers Podcast: Twincast / Podcast #275 - Non-Fungible Mailbag
Twincast / Podcast #275:
"Non-Fungible Mailbag"
MP3 · iTunes · RSS · View · Discuss · Ask
Posted: Saturday, May 1st, 2021

New Items on eBay

Buy "Transformers Dark Of The Noon Mechtech Human Alliance BACKFIRE & SPIKE WITWICKY" on EBAY
Buy "Hasbro. Transformers Siege. War for Cybertron Trilogy. Figure: REFRAKTOR Ages 8+" on EBAY
Buy "Transformers R.e.d. MEGATRON Vinyl RED Series Figure" on EBAY
Buy "Takara Tomy HEAT SCRAMBLE Transformers Starter Set TFD-00" on EBAY
Buy "Hasbro Transformers WFC War For Cybertron Siege Battle Masters Blowpipe MOSC" on EBAY
Buy "Transformers Siege War for Cybertron Battle Masters - BLOWPIPE (NEW)" on EBAY
Buy "Transformers Sludge Power of the Primes Combiner MOSC Sealed" on EBAY