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Hasbro’s preliminary 2011 profit trails analysts’ estimates
By James Callan
Bloomberg News
PAWTUCKET - Hasbro Inc., 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-based company said today in a statement. Analysts projected $2.87, the average of 11 estimates compiled by Bloomberg.
CEO 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 fell 0.1 percent to $32.65 at 8:37 a.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. is the world’s largest toymaker.
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