Hasbro Strong in Third Quarter of 2003

Hasbro reported good financial results for the third quarter of 2003. Revenues in the Games segment of the company were $250.2 million for the quarter, up 11% over last year.

The company attributed the growth to strong performances by games like Monopoly, Trivial Pursuit 20th Anniversary Edition, Bulls-Eye Ball, and Magic: The Gathering.

The Games segment reported an operating profit of $58.3 million, compared to $48.4 million for the same quarter last year.

Overall, Hasbro reported worldwide net revenues of $971.1 million, up 18% from $820.5 million a year ago. Earnings for the quarter, before cumulative effect of accounting change, were $85.8 million, compared to net earnings of $55.8 million last year.

"I am very pleased that our strategy of focusing on Hasbro's core brands and product innovation continues to deliver strong results," said Alfred J. Verrecchia, Hasbro's president and CEO, in a press release. "Our third quarter performance and progress year to date reflects growth in many of our core brands."

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