Hasbro 4Q performance hurt by some charges
PAWTUCKET, R.I. (AP) — Hasbro's fourth-quarter net income slipped, weighed down by some charges during the critical holiday selling period.
The November and December holiday season is important because companies can make 40 percent or more of their annual revenue then.
For the period ended Dec. 29, Hasbro Inc. earned $129.8 million, or 98 cents per share. That compares with $130.3 million, or 99 cents per share, a year ago.
Excluding the charges and a benefit related to a legal settlement, earnings were $1.12 per share. Analysts expected earnings of $1.21 per share.
Revenue for the Pawtucket, R.I. company was basically flat at $1.28 billion. Analysts expected revenue of $1.3 billion.
Last month rival Mattel Inc.'s fourth-quarter results missed analysts' estimates as sales of toys like Barbie and Fisher-Price preschool items dropped.