Hasbro reports EPS in-line, misses on revs
Reports Q2 (Jun) earnings of $0.36 per share, excluding non-recurring items, in-line with the Capital IQ Consensus Estimate of $0.36; revenues rose 8.2% year/year to $829.3 mln vs the $838.97 mln consensus.
* U.S. and Canada segment net revenues of $383.0 million decreased 2% compared to $389.2 million in 2013. The segment's results reflect growth in the Boys and Girls product categories offset by declines in the Games and Preschool categories. The U.S. and Canada segment reported operating profit of $46.9 million versus $59.0 million in 2013.
* International segment net revenues increased 17% YoY to $396.8 mln. Revenues in the International segment reflect double-digit growth in Europe, Latin America and Asia Pacific as well as growth in the Boys, Girls and Preschool product categories. The International segment reported operating profit of $29.2 million, up 98% YoY.
* Entertainment and Licensing segment net revenues increased 35% to $47.7 million compared to $35.3 million in 2013. The segment benefited from growth in lifestyle licensing, digital gaming and the addition of Backflip Studios. The Entertainment and Licensing segment reported 295% growth in operating profit to $14.6 mln.
* Repurchased 2.5 million shares of common stock at a total cost of $136.3 million and an average price of $54.06 per share.