PAWTUCKET – Hasbro Inc. reported an increase in revenue in the first quarter that ended March 29, boosted by 22 percent revenue growth in the preschool segment.
The toymaker reported net revenue of $713.5 million, an increase of 5 percent compared with $679.5 million during the prior year quarter. Without a $62.6 million foreign-exchange impact, revenue grew 14 percent, the company said.
Profit dropped nearly 17 percent, however, to $26.7 million, or 21 cents per diluted share, compared with $32.1 million, or 24 cents per diluted share, during the year-ago period.
Measured another way, however, profit increased 43 percent, when first-quarter 2014 profit was adjusted to $18.6 million, or 14 cents per diluted share, excluding $13.5 million, or 10 cents per diluted share, of favorable tax adjustments last year.
Hasbro’s first-quarter results topped average analyst estimates of 8 cents per share.
