Hasbro Earnings, Revenues Off In Q1

  • April 20, 2009
Hasbro, marketer of Monopoly G.I. Joe and My Little Pony, says its first-quarter net earnings dropped to $19.7 million from $37.5 million in the same period a year ago. Revenues fell to $621.3 million. (Excluding foreign exchange, the decline amounted to a 6% fall.)

In the U.S. and Canada, the company says its Star Wars, Playskool Nerf and board games divisions grew, but not enough to offset declines in Littlest Pet Shop, Marvel and Transformers.

The company expressed confidence that the worst is behind it: "Based on the strength of our product line, we believe the two most recent quarters will prove to have been the most challenging for Hasbro in this economic cycle," it says in its release.--Sarah Mahoney

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