PAWTUCKET – Hasbro Inc. profit and revenue climbed in the first quarter, thanks to a nearly 43 percent jump in sales of new games such as Speak Out, Toilet Trouble and Fantastic Gymnastics, as well as Dungeons & Dragons and Pie-Face.
The toymaker said Monday that profit rose 46 percent to $68.6 million, or 54 cents per diluted share, in the first quarter compared with profit of $47 million, or 38 cents per diluted share, in the year-ago first quarter.
Revenue increased 2.2 percent to $849.7 million in the quarter that ended April 2, compared with revenue of $831.2 million in the same year-ago period.
Brian Goldner, Hasbro’s chairman and CEO, said first-quarter results were in line with expectations.
“Revenue grew in the quarter, and we drove strong consumer takeaway at retail, both compared to a robust first quarter last year and with a shift of Easter into this year’s second quarter. Over the coming quarters, we are supporting significant new initiatives, including major theatrical films for both franchise and partner brands,” Goldner said in a statement.
Among the four brand portfolio segments, gaming had the largest increase, rising 43 percent to $142.9 million from $100.2 million. However, Hasbro also looks at all its gaming products as a whole. Thus, including sales from other products, such as Magic: The Gathering and Monopoly, products that also are included in the franchise brands category, gaming revenue grew 10 percent to $253.3 million.
Revenue from franchise brands increased 1.7 percent over the year to $423.6 million, driven by growth in Nerf, Transformers and Monopoly. Emerging brand revenue climbed 24.5 percent to $70.2 million, due to growth from Baby Alive and Furreal Friends.
The only segment to experience a decline was partner brands, which fell 17.5 percent, to $213 million. Growth in this category from Beyblade and Dreamworks Trolls was offset by expected decreases in Star Wars and Marvel before major theatrical releases this year, the company said.
U.S. and Canada revenue declined 1.8 percent to $451.6 million, while international revenue was flat at $345.3 million. Entertainment and licensing revenue grew 24 percent to $52.7 million. Digital gaming drove the quarterly revenue increase, the company said, noting higher revenue at Backflip Studios.
Lori Stabile is the PBN Web Editor.
