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Subject: Hasborg is doing something right... rss

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Pierce Ostrander
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Such a cute little niche we are...

SAN FRANCISCO (MarketWatch) -- Hasbro Inc. said Monday that its fourth-quarter net income jumped 77% from the year-earlier period on lower costs, with sales rising 12% due to demand for Transformers action figures, Nerf toys and board games.

The world's No. 2 toy maker, which easily exceeded Wall Street's profit target, also issued an upbeat financial forecast for 2010.


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Hasbro shares surged 13% to $34.71.

"The quality of the beat, coupled with what we believe was extreme pessimism heading into today's report, should propel the stock significantly higher," Wedbush analyst Chris White wrote just after the earnings report came out and before the market had opened for trading. He rates Hasbro /quotes/comstock/13*!has/quotes/nls/has (HAS 34.71, +3.91, +12.70%) shares a buy.

The Pawtucket, R.I.-based company expects to "grow revenue and earnings per share for 2010," including earnings dilution from television investments and absent deterioration in consumer spending, global economic conditions or the value of foreign currencies.

Hasbro earned $2.48 a share on revenue of $4 billion in 2009. Before Monday's report, analysts had expected the toy maker to earn $2.16 a share on sales of $4 billion in 2010.


Toys R Us

While rival Mattel Inc. /quotes/comstock/15*!mat/quotes/nls/mat (MAT 20.06, -0.04, -0.20%) also reported strong fourth-quarter earnings, Hasbro was better able to meet last-minute demands of retailers, who have been keeping inventories lean throughout the recession.

"Hasbro was in a good position to fill retail demand," said BMO Capital Markets analyst Gerrick Johnson.

Johnson said Hasbro was a better predictor of toy demand for the 2009 holiday season. Mattel played it conservatively, depleting stocks of certain toys.

Consumers did spend more on toys in 2009 than the year before. For 2009, toy sales fell less than 1%, compared with the 3% drop in 2008, according to market researcher NPD Group. Fourth-quarter sales were even with the 2008 quarter.

For the quarter ended Dec. 27, Hasbro earned $165.6 million, or $1.09 a share, compared with $93.6 million or 62 cents a share in the year-ago period.

Sales rose to $1.38 billion from $1.23 billion, led by demand for Transformers, Nerf, Play-Doh and Tonka items.

/quotes/comstock/13*!has/quotes/nls/has

HAS 34.71, +3.91, +12.70%

On average, analysts had expected Hasbro to earn 81 cents a share on sales of $1.34 billion, according to FactSet Research.

In 2009, Hasbro discontinued more-expensive toy lines, froze salaries and cut travel expenses to blunt an expected slowdown in consumer spending.

Full-year sales of Transformers toys tied to the blockbuster movie were $592 million, a 23% increase over similar movie-related sales in 2007. Nerf sales rose 25% last year.

Hasbro is in the middle of creating a children's TV-cable channel with Discovery Communications, set to launch in the fall. Hasbro said the unit was profitable in the fourth quarter. TV programming veteran Margaret Loesch, who helped develop the Smurfs and Jim Henson's Muppet Babies, is spearheading the TV venture for Hasbro.

For this year, Hasbro is expecting sales from increased investments behind its PlaySkool toys, toys tied to the big-screen releases of "Iron Man II" and "Toy Story III," as well as a revamped Mr. and Mrs. Potato Head line.

Hasbro shares are up 47% over the past 12 months, far outpacing the 22% gain for the S&P 500 Index /quotes/comstock/21z!i1:in\x (SPX 1,057, -9.45, -0.89%) .
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Jonathan "Spartan Spawn, Sworn, Raised for Warring!"
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"By the power of truth, I, while living, have conquered the universe."
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Make more Heroscape stuff I sez...
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James Webb Space Telescope in 2018!
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This makes it easier to understand why they don't care about "our" types of games. We're a small pond compared to their ocean.
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Ralph T
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They do own Avalon Hill.
 
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T K
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ralpher wrote:
They do own Avalon Hill.

And WotC.
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Was George Orwell an Optimist?
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ralpher wrote:
They do own Avalon Hill.


They have the keys to the crypt?
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James Webb Space Telescope in 2018!
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Sphere wrote:
ralpher wrote:
They do own Avalon Hill.


They have the keys to the crypt?

Why, yes, they do own Dungeons and Dragons (TSR).
:laugh:



 
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(ʇllıʍ)
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Resistance is futile.
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