hasbro quarterly net profit up

LONDON (MarketWatch) -- Toy maker Hasbro (HAS:Hasbro Inc
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Last: 31.55+0.86+2.80%

4:02pm 04/18/2008

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HAS 31.55, +0.86, +2.8%) said that first-quarter net income rose to $37.5 million, or 25 cents a share, from $32.9 million, or 19 cents a share, a year ago. Analysts had been expecting earnings per share of 14 cents, according to data compiled by FactSet. Sales rose 13% to $704.2 million, with growth driven primarily by Transformers and Littlest Pet Shop toys as well as Playskool, Star Wars, Baby Alive, My Little Pony and board games. "We had a strong 2007 and the momentum continues in 2008," said Alfred Verrecchia, president and chief executive officer. "Our first quarter performance reinforces the confidence we have in achieving our full-year financial goals," he added.