Hasbro profits beat analyst expectations

PAWTUCKET – “Jurassic World” and Nerf products helped Hasbro Inc. boost profit in the second quarter, but revenue was dragged down by lower sales in the games and girls segments.

The toymaker beat analyst expectations, with profit of $40.3 million, or 33 cents per diluted share, in the quarter that ended June 28, compared with $32.8 million, or 26 cents per diluted share, during the year-ago period. Analysts expected 29 cents per share.

Revenue was $797.7 million, versus $829.3 million in the 2014 second quarter, a 4 percent decline due in part to lower sales in the games and girls segments.

Among the four segments – boys, games, girls and preschool – boys and preschool had gains of 1 percent and 14 percent respectively, while games and girls fell 6 percent and 22 percent, respectively.

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Boys revenue was $340.4 million, fueled by a year-over-year gain in Nerf, as well as sales of “Jurassic World”, Star Wars and Marvel products. The company said the increases offset declines in Transformers.

“Jurassic World” products also fueled preschool revenue, which was $118.1 million, the company said.

The drop in girls revenue to $127.5 million was due to lower Furby sales, as well as My Little Pony and Nerf Rebelle. •

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