Hasbro falls after quarterly sales disappoint
Hasbro Inc., the maker of Nerf, Playskool and Transformers toys, fell the most in nine months after saying preliminary fourth-quarter sales trailed its forecast because of weaker demand in the U.S.
The shares of Pawtucket, Rhode Island-based Hasbro rose 13 percent last year, about matching the gain of the Standard & Poor's 500 Index.
"Consumer demand through much of the holiday season was less than anticipated in both the U.S. and certain international markets," chief executive officer Brian Goldner said Friday in a statement. "As a result, fourth quarter revenues did not meet our expectations."
Hasbro said revenue for 2012 was about $4.09 billion, a 4.7 percent decline from 2011 and less than analysts' average estimate of $4.21 billion. The results imply fourth-quarter revenue of about $1.28 billion. Analysts estimated $1.41 billion, on average.
Per-share profit for the year, excluding restructuring charges, was about $2.73 to $2.75. The figure includes a negative effect of about 10 cents a share because of foreign- currency exchange rate fluctuations. Analysts predicted $2.83, on average.