Hasbro .Inc have reported their first-quarter sales with revenue rising 8.2% to $672.4m, above analysts' average estimates. Their net profit nearly trebled to from $19.7 million to $58.9m when comparing Q1 2009 to Q1 2010. Sales have risen in all major product segments and territories, according to Hasbro. International sales rose by a healthy 17%. The Hasbro board have also authorised the repurchasing of an additional $625m worth of common stock. In the first quarter, it repurchased 2.2 million shares for $97.7m at an average price of $35.35 each.
While sales in its products for boys rose three per cent, with Nerf and Tonka performing well, it was girls and pre-school that boosted Hasbro's first-quarter sales the most, with increases of 16 per cent and 18 per cent respectively. Games and puzzles were up seven per cent.
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