Nuremberg Recap Alludes to Bright Toy Future
Last month Chris Byrne was at the Hong Kong Toy Show on behalf of aNb Media. The overall message coming out of Hong Kong was that the worst of the global recession is behind us and business is moving full steam ahead. To read a complete recap, pick up the February issue of Toys & Family Entertainment at Toy Fair or read it online next week.
Bob Glaser, publisher of Toys & Family Entertainment, made his first trip to Nuremberg for the Toy Show last week. He reports that the feeling coming out of Hong Kong was echoed in Nuremberg. There was an energy and excitement in the packed halls of this widely attended trade show. We are confident that this feeling will have full global reach as Toy Fair begins in New York City on Sunday. Posted below are some photos from Nuremberg, Germany.
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Hasbro Reports Q4 and 2010 Results
Hasbro, Inc., reported financial results for the fourth quarter and full-year 2010. For the full-year 2010, the company reported revenues of $4 billion compared to $4.07 billion in 2009. Foreign exchange had a $17.7 million negative impact on full-year 2010 revenues. Net earnings for the full year were $397.8 million or $2.74 per diluted share, up $22.8 million or 6 percent versus $374.9 million, or $2.48 per diluted share in 2009. Full-year 2010 net earnings include a favorable tax adjustment of $21.2 million or $0.15 per diluted share recorded in the first quarter 2010. Absent this adjustment, 2010 earnings per share were $2.59. Additionally, the full-year 2010 results include dilution of $0.30 per share related to the company’s television investments compared to $0.12 per share in 2009.
For the fourth quarter 2010, the company reported net revenues of $1.28 billion, compared to $1.38 billion a year ago. Foreign exchange had a $23.5 million negative impact on revenue in the quarter. The company reported net earnings for the quarter of $140 million or $0.99 per diluted share compared to $165.6 million or $1.09 per diluted share in 2009.
For the full year 2010, worldwide net revenues grew in the Preschool and Girls categories. The Boys category declined 7 percent to $1.37 billion; the Games & Puzzles category declined 4 percent to $1.29 billion; the Girls category increased 5 percent to $830.4 million; and the Preschool category increased 13 percent to $509.6 million.
U.S. and Canada segment net revenues were $2.30 billion for the full year, compared to $2.45 billion in 2009. The segment experienced growth in the Preschool category offset by declines in the Boys, Girls and Games & Puzzles categories. The U.S. and Canada segment reported an operating profit of $349.6 million compared to $380.6 million in 2009.
International segment net revenues were $1.56 billion in 2010, an increase of $100 million or 7 percent compared to $1.46 billion in 2009. Absent a negative $27.6 million impact of foreign exchange, International segment net revenues increased 9 percent from 2009. Net revenues in the International segment reflect growth in all major product categories. The International segment reported an operating profit of $209.7 million, up $47.5 million or 29 percent compared to $162.2 million in 2009.
Entertainment and Licensing segment net revenues were $136.5 million compared to $155 million in 2009. The results primarily reflect a decline in Transformers and G.I. JOE movie-related revenue. The Entertainment and Licensing segment reported an operating profit of $43.2 million compared to $65.6 million in 2009.