AP reports that "Toymaker Hasbro says second-quarter profit rose
on demand for brands such as Transformers, Littlest Pet Shop and
Indiana Jones. Profit rose to $37.5 million, or 25 cents per share, from $4.8 million, or 3 cents per share, a year earlier. Sales jumped 13.4 percent to $784.3 million from $691.4 million. International sales rose 15 percent. Analysts polled by Thomson Financial expected profit of 22 cents per share and sales of $675.4 million. Pawtucket, R.I. -based Hasbro Inc. raised prices to help offset rising costs".
News agency Reuters, have issued the following press release which gives more details as to which areas saw the biggest increase
"NEW YORK (Reuters) - Hasbro Inc (HAS.N), the No. 2 U.S. toymaker, posted a higher-than-expected quarterly profit on Monday, boosted by sales of toys tied to movies such as the latest "Indiana Jones" release and by brands like G.I. Joe and Transformers.
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Second-quarter net profit rose to $37.5 million, or 25 cents a share, from $4.8 million, or 3 cents a share, a year earlier when it took a charge for repurchasing its warrants from Lucasfilm Ltd and Lucas Licensing Ltd.
Analysts, on average, had expected a profit of 22 cents per share, according to Reuters Estimates.
Sales rose 13 percent to $784.3 million.
While U.S. and Canadian sales rose 11 percent to $467.7 million, sales in international markets increased 15 percent to $293.7 million, aided by a weak dollar.
Hasbro, which also owns the Littlest Pet Shop and Playskool brands, has said it expects per-share earnings to rise this year, but has also pointed to challenges, such as higher costs for transporting its goods.
"While input cost inflation continues to be challenging, thus far we have been able to mitigate most of the impact through cost savings initiatives and pricing actions," Chief Operating Officer and Chief Financial Officer David Hargreaves said in a statement on Monday.
Even rival Mattel Inc (MAT.N) is feeling the pain of rising commodity costs. The world's top toy company raised prices by mid- to high-single-digit rates across most products in June.
Hasbro said it spent $51.6 million to buy back 1.646 million shares of common stock during the quarter.
Hasbro shares have traded as low as $21.70 in the past year. They closed at $37.99 last week, nearly $2 below the year's high of $39.97, on the New York Stock Exchange."
The Reuters news agency have published the following Press Release regarding the increase in quarterly profits over at Viacom, attributing much of the success to sales of Transformers.
Viacom profit up on cable,"Transformers"
Viacom Inc said on Friday its
quarterly profit rose 80 percent, boosted by the sale of its
music publishing unit, strong cable advertising and blockbuster
turnout for the alien robots movie "Transformers."
The results beat Wall Street forecasts, and Viacom's Class
B shares ended three percent higher at $41.58 in a generally
flat market.
The company, home to the MTV Networks cable television
channels and the Paramount film studios, also said it expects
U.S. advertising sales to increase further in the current
quarter and its digital entertainment outlets to post continued
growth.
"'Transformers' gave the movie studio the lift, and the
cable networks continued to improve in revenue growth," said
Gabelli & Co analyst Christopher Marangi.
Viacom's third-quarter profit rose to $641.6 million, or 96
cents per share, from $356.8 million, or 50 cents per share, a
year ago. The company recorded a $192 million gain for selling
its Famous Music publishing unit in July.
Excluding the sale and other items, earnings per share for
the 2007 quarter was 65 cents, above the average analysts' view
of 60 cents per share, according to Reuters Estimates.
Revenue rose 24 percent to $3.27 billion. Analysts had
forecast revenue of $3 billion.
The company also said it was on track to post low
double-digit annual growth in diluted earnings per share from
continuing operations.
Viacom founder and Chairman Sumner Redstone said he was
"more than pleased" with the results and gave a strong
endorsement to Chief Executive Philippe Dauman, who took the
helm after company veteran Tom Freston was ousted.
The 84-year-old media mogul is embroiled in a public battle
with his daughter Shari, once seen as his likely successor.
"One of the smartest moves that I and the board have ever
made was to ask Philippe Dauman to assume the role of CEO,"
Redstone said. "The rewards of that decision are becoming more
and more apparent."
A STRIKE FOR STEWART?
The company has prepared for a possible strike by Hollywood
screenwriters after their labor contract with production
studios expired, but expects little or no impact on Viacom's
business, Dauman said.
But two of Viacom's most popular comedy shows -- "The Daily
Show with Jon Stewart" and "The Colbert Report" -- could be
hurt by a walkout as they rely on fresh writing about current
events, he said.
Viacom's media networks business posted a 9 percent rise in
revenue to $2 billion in the third quarter. Filmed
entertainment revenue 57 percent to $1.3 billion.
Worldwide advertising rose 7 percent to $1.18 billion.
Domestic ad sales grew 5 percent and the company expects
comparable growth in the fourth quarter.
Viacom, which is also home to the Nickelodeon and Comedy
Central cable channels, has sought to extend its entertainment
brands more broadly across the Internet.
Viacom did not give details on results for its digital
media businesses, but it has said in the past it would likely
exceed a goal of $500 million in digital revenue for 2007.
Dauman said it would be increasingly difficult to break out
digital results as the company sells more of that advertising
in combined deals with its television programming.
"As far as digital advertising goes, we are experiencing
nice growth in our efforts, particularly as we add sites, add
functionality," Dauman told a conference call with analysts.
Analysts said the company should continue to post growth
despite concerns over the impact of a deteriorating housing
market on the U.S. economy.
"One of the variables is the overall ad environment, but
they should fare relatively well given the dual revenue stream
and the international (business)," said Marangi.
Reuters