Hasbro Profit Falls, Reports Mixed Results (HAS)

Pawtucket, Rhode Island-based Hasbro, Inc. HAS released financial results on Monday morning that beat Wall Street earnings estimates, while failing to meet revenue expectations. Hasbro, Inc announced that its 4th quarter net earnings fell to $140.0 million, or 99 cents per share, down from $165.6 million, or $1.09 per share, a year earlier. Hasbro, Inc reported revenue of $1.28 billion, down from $1.38 billion a year earlier. According to a poll of analysts by Thomson Reuters, the average Wall Street estimate called for earnings of 95 cents per share, on revenue of $1.31 billion. Hasbro, Inc. (HAS) finished the previous trading day at $44.82 per share. The consensus price target of analysts covering the company's stock is $51.50 per share. President and Chief Executive Officer Brian Goldner said, “We have a lot to feel good about for 2010. International revenues grew, driven by a strong performance in the emerging markets; several of Hasbro's core brands performed well, enabling us to grow market share across multiple product categories; and we delivered record net earnings and our tenth consecutive year of earnings per share growth, while continuing to invest in long-term opportunities.” Hasbro, Inc is a branded play company providing children and families around the world with a wide-range of immersive entertainment offerings based on the company's world class brand portfolio. Read more from Benzinga's Company news.