Girl Power: Hasbro returns to 1st-quarter profit as sales of girls' toys strengthen | iNFOnews | Thompson-Okanagan's News Source
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Girl Power: Hasbro returns to 1st-quarter profit as sales of girls' toys strengthen

FILE - In this Tuesday, Feb. 5, 2013, photo, the cat Monopoly token rests on a Boardwalk deed next to a die and houses at Hasbro Inc. headquarters, in Pawtucket, R.I. Hasbro Inc. reports quarterly financial results on Monday, April 21, 2014. (AP Photo/Steven Senne, File)

PAWTUCKET, R.I. - Hasbro returned to profitability in its first quarter, driven by sales of girls' toys such as My Little Pony and Nerf Rebelle. The prior-year period was dragged down by restructuring charges.

The Pawtucket, R.I. company earned $32.1 million, or 24 cents per share, for the period ended March 30. That compares with a loss of $6.7 million, or 5 cents per share, a year ago.

Stripping out favourable tax adjustments, earnings were 14 cents per share.

Analysts expected earnings of 10 cents per share.

Revenue climbed 2 per cent to $679.5 million from $663.7 million, but missed Wall Street's estimate of $690.1 million.

Last week rival Mattel Inc. reported an unexpected first-quarter loss, hurt by soft Barbie sales and markdowns to clear excess inventory.

News from © The Associated Press, 2014
The Associated Press

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