Tags: US | Earns | Hasbro

Hasbro Cuts Spending as Profit Rises 11 Percent

Monday, 19 Jul 2010 06:58 AM

Hasbro Inc. says its second-quarter profit rose 11 percent as its spending cuts outpaced the drop in sales of Transformers and G.I. Joe toys.

Hasbro says its profit grew to $43.6 million, or 29 cents per share, in the quarter that ended June 27. That's up from $39.3 million, or 26 cents per share, a year earlier.

Hasbro says royalty payments fell during the quarter, but sales costs and advertising spending also decreased.

Revenue fell 7 percent to $737.8 million from $792.2 million.

Analysts surveyed by Thomson Reuters on average expected earnings of 24 cents per share on revenue of $748.3 million.

Sales of boys' items, with tie-ins to the Transformers and G.I. Joe movies, sank 34 percent.

© Copyright 2017 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

 
1Like our page
2Share
Companies
Hasbro Inc. says its second-quarter profit rose 11 percent as its spending cuts outpaced the drop in sales of Transformers and G.I. Joe toys.Hasbro says its profit grew to $43.6 million, or 29 cents per share, in the quarter that ended June 27. That's up from $39.3 million,...
US,Earns,Hasbro
118
2010-58-19
Monday, 19 Jul 2010 06:58 AM
Newsmax Inc.
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved