Hasbro 4Q profit rises on sales of boys' products

[February 08, 2010]  PAWTUCKET, R.I. (AP) -- Hasbro says sales of action figures and other toys aimed at boys and strong entertainment and licensing revenue helped push its fourth-quarter profit sharply higher.

The No. 2 U.S. toy maker also gave a solid 2010 forecast, saying sales and earnings per share should grow this year.

Hasbro's profit surged 77 percent to $165.6 million, or $1.09 per share, in the quarter ended Dec. 27, easily beating analysts' 81 cents-per-share estimate.

Sales climbed 12 percent to $1.38 billion, topping Wall Street's estimate of $1.34 billion.

The fourth quarter is key for toy makers since it contains the holiday period and can make up to half of the quarter's sales.

Hasbro is based in Pawtucket, R.I.

[Associated Press]

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