Transformers help boost Hasbro income 31% in 2Q

PAWTUCKET – On the backs of Transformers and Marvel movie-related products, toymaker Hasbro Inc. Monday reported second-quarter revenue growth of 31 percent, to $691.4 million.
The company also reported that it paid $200 million to purchase all of the outstanding warrants for Hasbro stock that Lucasfilm Ltd. and Lucas Licensing Ltd. had purchased. As a result of that transaction, Hasbro took a $36.5 million pre-tax charge, resulting in net income of $4.8 million, which represented a decrease of 82.3 percent. Discounting the warrant repurchase charge, however, Hasbro would have posted net income of $41.3 million, an increase of 52.5 percent.
Net income for the first six months of the year increased 69.9 percent to $37.7 million on revenue of $1.3 billion, an increase of 32.2 percent.

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