Hasbro Inc and Mattel both released their first quarter figures this afternoon (this morning in America) with forecasts fair even performance for both companies, but with Hasbro receiving the higher increase in profits. Well the official figures are in, shocking some forecasters, as whilst Hasbro's profits rose by 14%, Mattel reported a loss of $46.6 Million
Reuters report that "The maker of Monopoly board games said first-quarter profit
climbed to $37.5 million, or 25 cents a share, from $32.9
million, or 19 cents a share, a year earlier.
Quarterly sales rose 13 percent to $704.2 million from
$625.3 million.
Analysts on average were expecting earnings of 14 cents a
share on $582.2 million in sales, according to Reuters
Estimates.
Hasbro said sales climbed 6 percent in the United States
and Canada and 22 percent internationally."
AP Business Wire reported "The toymaker Hasbro Inc. said Monday its earnings rose 14 percent in
the first quarter on growth in brands such as Transformers and Littlest
Pet Shop.
The world's second biggest toy company said it earned $37.5
million, or 25 cents per share, for the three months ended March 30, up
from $32.9 million, or 19 cents per share, during the same quarter a
year ago.
The results beat the expectations of analysts polled by Thomson Financial, who forecast net income of 14 cents per share.
Sales grew 13 percent to $704.2 million from $625.3 million a year ago.
The
company said international revenue rose 22 percent to $248.3 million,
while revenue in the U.S. and Canada segment grew 6 percent to $428.5
million.
Hasbro released the results as its chief rival, Mattel
Inc., said it lost $46.6 million, or 13 cents per share, missing
analysts' expectations of a profit of a penny per share. The El
Segundo, Calif.-based maker of Barbie dolls and Fisher-Price toys
blamed higher product costs and legal fees."