Games Save Hasbro's Bacon (Again)

Hasbro, the nation's second largest toymaker, reported a decline in revenue for the second quarter of 2004, but reductions in overhead kept earnings consistent in spite of the revenue reduction. Revenues from the U.S. toy segment declined from $208.4 million last year to $167.2 in the second quarter this year, with $34 million of the decline attributable to reduction in sales of Beyblade products. Internationally the decline in Beyblade revenue was even more pronounced with a free fall of some $47 million, though it was partially offset by strong performances from Hasbro core brands including Magic: The Gathering and Transformers.

The brightest band in the Hasbro spectrum was the games segment where revenues advanced to $161.6 million for the quarter versus $148.6 for the same period last year. Hasbro attributes most of the revenue growth to trading card games including the launch of the Duel Masters game in March. Hasbro's Games segment reported operating profits of $28.7 million for the period compared to an operating profit of $25.4 million last year.

Source: ICV2.com