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Hasbro Inc

BUSINESS
April 22, 2003 | From Bloomberg News
Hasbro Inc., the world's No. 2 toy maker behind El Segundo-based Mattel Inc., had a first-quarter profit of $1.19 million after reducing costs and increasing sales of such toys as Transformers. Analysts had expected a loss. Net income of 1 cent a share contrasted with a net loss of $262.8 million, or $1.52, a year earlier, the company said. Sales rose 2.1% to $461.8 million. Shares of Hasbro, based in Pawtucket, R.I., rose $1.36, or 9.6%, to $15.56 on the NYSE.
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BUSINESS
November 30, 2002 | From Bloomberg News
Toy maker Hasbro Inc. was fined $7.7 million by British regulators for fixing prices. The maker of Mr. Potato Head and G.I. Joe broke British competition law when it told 10 distributors they couldn't sell toys and games below its list price without permission, the British Office of Fair Trading said. Pawtucket, R.I.-based Hasbro said it would appeal the ruling. Hasbro shares fell 26 cents to $12.82 on the NYSE. They have declined 21% this year.
BUSINESS
June 10, 2002 | From Bloomberg News
DreamWorks said it awarded Hasbro Inc. the main toy license for "Sinbad: Legend of the Seven Seas," the studio's animated movie scheduled for release next year. Terms weren't disclosed. "Sinbad" will be a part of the GI Joe action figure brand, one of only a few characters that have been attached to the brand, the companies said in a statement released Sunday. Hasbro also will have rights to all clothing, vehicles, environments, play sets and other accessories related to the action figures.
BUSINESS
February 20, 2001 | ABIGAIL GOLDMAN, TIMES STAFF WRITER
If the games unveiled at the nation's largest toy show are any indication, kids have outgrown battles with Pokemon monsters and space invaders and are ready to play against a more realistic threat: infectious disease. And although germ warfare for children might upset some parents, psychologists said at least the play-killing of viruses is better than the play-killing of people. In fact, people play a background role in what will probably be the biggest of these games. Pox by Hasbro Inc.
BUSINESS
February 9, 2001 | From Bloomberg News
Hasbro Inc. on Thursday reported a fourth-quarter loss, its first in almost a decade, and said it plans to fire 100 more workers as the popularity of Pokemon trading cards plummeted. The world's second-largest toy maker said its loss from operations was $58.4 million, or 34 cents a share, compared with profit of $155.4 million, or 79 cents, a year earlier. Sales dropped 27% to $1.16 billion, hurt also by weaker demand for its Furby and Star Wars products that were a big hit a year ago.
BUSINESS
December 7, 2000 | SHOBHANA CHANDRA, BLOOMBERG NEWS
Hasbro Inc. said Wednesday that it might have a loss this year because of sluggish sales of trading-card games and toys, and said it plans to increase the number of jobs it will cut by about 50%. The world's second-largest toy maker also agreed to sell its money-losing Hasbro Interactive and Games.com units to French game publisher Infogrames Entertainment for $100 million in cash and stock. Pawtucket, R.I.
BUSINESS
October 13, 2000 | Bloomberg News
Hasbro Inc.'s earnings in the third quarter may decline more than expected because of sluggish sales, a weak euro and rising costs for raw materials, analysts and investors said. Profit is forecast to fall to 32 cents a share, the average estimate of analysts polled by First Call/Thomson Financial, from 43 cents a year earlier. The world's No. 2 toy maker said in July that the second half will be difficult as sales of Pokemon, Furby and Star Wars toys decline.
BUSINESS
August 10, 2000 | Bloomberg News
Hasbro Inc., the No. 2 U.S. toy maker, promoted 35-year company veteran Alfred Verrecchia to president and chief operating officer. He replaces Herb Baum, who was named Dial Corp.'s chief executive. Verrecchia, 57, was formerly executive vice president and chief financial officer. The management change was one of four made by Hasbro, based in Pawtucket, R.I. George Volanakis, 52, becomes executive vice president, reporting to Verrecchia.
BUSINESS
April 4, 2000 | Associated Press
Hasbro Inc. has paid a $400,000 civil penalty to settle a government claim that it waited too long to report defects in an infant carrier. Hasbro knew of nine injuries--including seven serious head injuries--before telling regulators about the problem, the U.S. Consumer Product Safety Commission said. The lock on the "Fold 'n Travel" carrier from the Playskool Baby division could fail, causing the seat to flip forward and throwing infants to the ground, the commission said. Pawtucket, R.I.
BUSINESS
December 16, 1999 | Associated Press
Hasbro Inc. announced plans to offer popular family games such as Monopoly, Clue, Risk and Battleship to online players through a three-year licensing and distribution partnership with Go2Net Inc. "Games are proving to be the killer application on the Internet," said Alan G. Hassenfeld, chairman and chief executive of Pawtucket, R.I.-based Hasbro. "Our vision is to create the best online games portal, offering mass-market entertainment with branded games for every member of the family."
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