Forbes.com report here that Hasbro's 2nd Quarter profits have jumped by 56%.Hasbro Inc., the nation's second-largest toy maker, on Monday reported second-quarter profit rose 56 percent as revenue was helped by strong performance from "Star Wars" products.
Quarterly net income grew to $29.5 million, or 13 cents per share, from $18.8 million, or 6 cents per share, a year earlier. Revenue climbed 11 percent to $572.4 million from $516.4 million, boosted by $9.1 million from favorable currency exchange rates.
Analysts expected Hasbro to earn 8 cents per share on $542.4 million in revenue.
Toy revenue rose 25 percent on strong results from "Star Wars" as well as other brands including Nerf, Transformers, My Little Pony and Littlest Pet Shop. In contrast, the company's games segment revenue fell 12 percent, due mainly to a decline in trading card games and higher seasonality of board game shipments.
"Our second-quarter performance reinforces the confidence we have in our ability to achieve our full-year financial goals, however, it's important to keep in mind that there is still a lot of business to be done in the back half of the year," said Alfred J. Verrecchia, president and chief executive, in a statement.
Reuters report that International revenue was $210.2 million, compared to $179.2 million a year ago.
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