Hasbro’s Preliminary 2011 Profit Trails Analysts’ Estimates
Hasbro Inc. (HAS), the world’s second- largest toymaker, reported preliminary full-year earnings per share that trailed analysts’ estimates after sales growth in the fourth quarter was weaker than expected.
Profit in 2011 may have risen as much as 4 percent to $2.85 per share, the Pawtucket, Rhode Island-based company said today in a statement. Analysts projected $2.87, the average of 11 estimates compiled by Bloomberg.
Chief Executive Officer Brian Goldner said fourth-quarter revenue growth “underperformed” in the U.S. and Canada during the holiday shopping season. Sales in that period probably advanced to $1.33 billion, trailing the $1.39 billion average of 10 analysts’ estimates compiled by Bloomberg.
Hasbro rose 1.2 percent to $33.07 at 12:12 p.m. in New York. The shares declined 32 percent last year.
The company plans to report full fourth-quarter results on Feb. 6.
Mattel Inc. (MAT) is the world’s largest toymaker.
To contact the reporter on this story: James Callan in New York at jcallan2@bloomberg.net
To contact the editor responsible for this story: Kevin Orland at korland@bloomberg.net
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