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 The second-largest U.S. toymaker, which gets half of its revenue
from international markets, said a strong dollar reduced
fourth-quarter revenue by $75.4 million.
Total revenue rose 1.3 percent to $1.30 billion. If not for the
stronger dollar, revenue would have increased 7 percent, Hasbro
said.
The dollar <.DXY> has surged about 20 percent against a basket of
major currencies since May.
Sales of toys for boys, Hasbro's largest business, rose about 21
percent to $421.9 million in the quarter ended Dec. 28, helped by
demand for toys based on Transformers movies and Marvel comics
characters.
Sales in the games division, which makes Monopoly and The Game of
Life board games, fell 4.4 percent to $418.3 million, while sales in
the girls division fell 10.4 percent to $312.4 million.
Hasbro's results were comparatively stronger than those of larger
rival Mattel Inc <MAT.O>, which last month posted its fifth straight
fall in worldwide quarterly sales.
Hasbro's girls toys, which include My Little Pony and "Hunger
Games"-inspired Nerf Rebelle bow and arrow toys, helped the company
outpace Mattel in the previous few quarters.
Reuters reported last week that Hasbro paid $65 million to Mexican
tax authorities in a settlement following a probe into the company
for possible for tax avoidance.
The deal resolved outstanding tax assessments for all open years
from 2000 to 2013, a spokeswoman said.
The company made no mention of the settlement in its earnings
release on Monday.
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Hasbro raised its quarterly dividend to 46 cents per share from 43
and authorized a new $500 million in share repurchase program. The
company bought 8.5 million shares for $460.7 million in 2014.
Net income attributable to Hasbro rose about 31 percent to $169.9
million, or $1.34 per share, in fourth quarter.
Excluding items, Hasbro earned $1.22 per share.
The fourth quarter of 2013 included a pre-tax charge of $48.8
million related to restructuring, pension costs and product-related
charges.
Analysts on average had expected a profit of $1.21 per share on
revenue of $1.33 billion, according to Thomson Reuters I/B/E/S.
Hasbro shares were up 1.5 percent at $56.60 in light trading before
the opening bell.
(Reporting by Shailaja Sharma in Bengaluru; Editing by Sriraj
Kalluvila)
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