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Day 14 of our 17 day celebration of Transformers At The Moon looks at the year 2012. We move house and the added responsibilities, and change of work for Steve, takes away a lot of our time which we used to spend on the site.
You can read more about what happened around the world, both within and outside of the Transformers Universe and fandom, by clicking on the title above or visiting our 2012 Year in Review.
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Having revealed their preliminary full-year financial results for 2012, Hasbro have announced that they will be making $100 million cut-backs between now and 2015 as year-on-year revenues dropped to $4.09 billion against $4.29 billion in 2011.
"The company expects to incur charges of approximately $37 million pre-tax in 2012, and an additional estimated $20-$30 million in 2013 associated with these planned actions to reduce ongoing expenses, including an approximate 10 per cent reduction in workforce, facility consolidation and process improvements.
"These actions are anticipated to begin to deliver savings in 2013, with full recognition in 2015 as all aspects of the plan are implemented."
"In 2012, we met many of the objectives we set for Hasbro," said Brian Goldner, Hasbro's President and Chief Executive Officer.
"Based on preliminary results, we returned the US and Canada segment to historical operating profit levels; we grew revenues in the Games category against our 2012 objective of stabilizing revenues; and we grew revenues in our Girls category.
"We also experienced double digit growth in our emerging markets business and achieved profitability in most major emerging markets a year ahead of our plan.
"Consumer demand through much of the holiday season was less than anticipated in both the US and certain international markets. As a result, fourth quarter revenues did not meet our expectations."
Hasbro CFO Deb Thomas added: "We fundamentally believe our strategy is sound and we remain confident in our ability to drive profitable long-term growth through brand innovation.
"We believe a reduction in ongoing costs in a challenging environment will deliver the greatest long-term return to our shareholders."
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