No Mr. Potato Heads, those folks at Hasbro. The company reported April 22 that its first-quarter results beat Wall Street expectations — driven by a recent contest that called for the public to eject a Monopoly game token and replace it with a new one.
Revenue rose by 26 percent for Hasbro’s games category, “led by a tremendously successful global campaign to ‘Save Your Token,’” Hasbro says. Girls and preschool toys also did well, while the boys category was pummeled.
Net revenues increased 2 percent to $663.7 million for the first quarter 2013 versus $648.9 million for the first quarter 2012.
- Operating profit increased 47 percent to $39.6 million, excluding $28.9 million in charges associated with restructuring actions in 2013 and $11.1 million in 2012;
- As reported, first quarter 2013 net loss of $6.7 million, or ($0.05) per diluted share compared to a first quarter 2012 net loss of $2.6 million, or ($0.02) per diluted share.
“When stripping out the impact of a restructuring charge and tax adjustments, however, Hasbro Inc. said it earned 5 cents per share. Analysts expected adjusted earnings of 4 cents per share,” the Boston Globe says.
Striking while the Monopoly iron token is out (and the cat is now in), the Pawtucket, R.I., company’s in the midst of another contest that could give a boost to the boys toys segment: Fans of all ages are invited to create a new character to celebrate the Transformers 30th anniversary in 2014. The contest runs through May 5.
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