Strong growth in Transformers and Littlest Pet Shop helped Hasbro jump 14 percent in first quarter 2008 earnings. This gave the company income of $37.5 million for the first three months of the year, or 25 cents per share. Analysts had forecast net income of only 14 cents per share.
By contrast, Hasbro’s chief rival Mattel lost $46.6 million, or 13 cents per share, missing expectations of a penny per share profit. Mattel blamed higher product costs and legal fees for the losses.
Hasbro’s CEO said the results indicated the company was on track for a strong 2008.
DESTRO says
Strong growth in Transformers and Littlest Pet Shop helped Hasbro jump 14 percent in first quarter 2008 earnings. This gave the company income of $37.5 million for the first three months of the year, or 25 cents per share. Analysts had forecast net income of only 14 cents per share.
By contrast, Hasbro's chief rival Mattel lost $46.6 million, or 13 cents per share, missing expectations of a penny per share profit. Mattel blamed higher product costs and legal fees for the losses.
Hasbro's CEO said the results indicated the company was on track for a strong 2008.
Thanks to www.tfw2005.com and FosterLager for the heads up!
TTT says
YAAH Hasbro !
I'm sure with more Joe waves on the way they'll only better those numbers over the next year.
CaptainDinobot says
Cool news. Good for us that Hasbro is going strong into 2008, I wonder how GI Joe played into that.
MAJOR WOLF says
Griffin73 says
Good, now spend some of that money on new molds for GI Joes guys!!!
Syn3sthesia says
My money is only for Joes...
Agent-GHQ says
Based on the success in sales, popularity, demand, shortages, sold-out preorders, the '09 live action movie and Gawd knows whatever else, there should be no reasons for Hasbro not to make bigger vehicles and play sets.
Shin Densetsu says
Griffin73 says
Yes, but the demand is building now. So you have to strike while the iron is hot. And with no figures on the pegs, there is less money coming in from the Joe property. They would have even bigger profits if they would get off their butts and produce more figures.
Shin Densetsu says
Keep reading: Strong Transformers Sales Give Hasbro Big Bump in 1Q Profits - Page 2
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