Hasbro (HAS) Outperforms: Shares Soar To 15 Month High
By Benzinga Staff
February 09, 2010 9:23 AM
February 09, 2010 9:23 AM
Toy-maker Hasbro (NYSE: HAS) posted a strong quarterly profit, and expects the boys’ toys segment and games to push up revenues and profits in FY10. Toys for the “Transformer” movie boosted Hasbro’s 4Q figures.
The proposed joint venture with Discovery Communications (NASDAQ: DISCA) should also stand the company in good stead. Hasbro also expects emerging markets and long-term licenses to support future growth.
The guidance for FY10 has been welcomed by investors and analysts, and Hasbro’s shares have risen by nearly 14%. An added bonus was that Hasbro does not expect input costs to affect margins, unlike rival Mattel (NASDAQ: MAT).
4Q profits rose to $165.6 million or $1.09 a share, compared to expectations of $0.81 per share.
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