Hasbro 1Q Loss Widens on Restructuring Charge

By: AP Email
By: AP Email

PAWTUCKET, R.I. (AP) - Hasbro says its first-quarter loss widened as the toy maker absorbed heavy restructuring charges and foreign exchange rates flattened its international revenue. The performance still topped Wall Street expectations.

The Pawtucket, R.I., maker of Transformers and Monopoly says it lost $6.7 million, or 5 cents per share, in the three months ended March 31. That compares with a loss of $2.6 million, or 2 cents per share, a year ago.

But Hasbro Inc. earned 5 cents per share when a restructuring charge is excluded. Analysts expected adjusted earnings of 4 cents per share.

Revenue rose more than 2 percent to $663.7 million despite a hit of more than $3 million from foreign exchange rates.

Analysts expected $642.1 million in revenue.

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