Summary Box: Hasbro 3rd-quarter profit rises

AP News
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Posted: Oct 18, 2010 7:26 AM
Summary Box: Hasbro 3rd-quarter profit rises

RESULTS: Toy maker Hasbro Inc. said Tuesday its net income rose 3 percent and beat analyst expectations, fueled by higher sales in its preschool and boys divisions.

CONTEXT: Hasbro's report come ahead of the crucial holiday season, when toymakers make up to half of their annual revenue. On Friday chief rival Mattel Inc. said its net income rose 23 percent but revenue missed analyst expectations.

OUTLOOK: "We continue to believe we should be able to grow revenues and earnings per share for the full year 2010," said CFO Deborah Thomas.