Worldwide net revenues were $893.4 million compared to $1.1 billion a year ago. Net earnings were $50.6 million, compared to earnings of $13.8 million in 2000 and diluted earnings per share were $0.29, compared to $0.08 per share in 2000.

For the first nine months of 2001, worldwide net revenues were $1.9 billion compared to $2.6 billion a year ago. Net earnings and diluted earnings per share in the first nine months were $7.2 million and $0.04, respectively, compared to earnings of $35.5 million and $0.20 last year.

"We are very pleased that we achieved our goal of cumulative profitability for 2001 by the end of the third quarter and we continue to believe we are on track to be profitable this year. Our strategy of focusing on expense reductions and growing our core brands is continuing to pay dividends," Alan G. Hassenfeld, Chairman and Chief Executive Officer, said in a press release.

"In the third quarter, many of our new products for the year began shipping and we saw our revenue grow by approximately $92 million or 12%, excluding Pokemon, Hasbro Interactive and Furby. Revenue reductions from these three product lines totaled $272 million for the quarter in 2001," Hassenfeld continued. "We've had strong sales from Transformers and G.I. Joe -- including our new kid-directed line Double Duty.

"In the games area, several new products have done well including Wheels on the Bus and Disney Monopoly, one of the most successful introductions of a licensed Monopoly game in the 66-year history of the brand.

"Also, we've had great initial response to Dusty My Talking Tool Bench from Tonka. We are also pleased with our partnerships -- Bob the Builder has continued to have strong sales, and we've had good initial response to Harry Potter trading card games, E-Kara, a hand-held karaoke system, and Monsters, Inc., the first movie with a full product line as part of our new Disney alliance," Hassenfeld concluded.

For the third quarter, the U.S. Toy segment increased revenue 21% and was profitable, compared to a substantial loss last year. Excluding Pokemon, revenue increased 30% for the U.S. Toy segment. The Games segment continued to be profitable, although revenue declined due to Pokemon, Furby and the sale of Hasbro Interactive. Excluding these three product lines, revenue increased 2% for the segment, primarily attributable to growth in board game and trading card game businesses, which was partially offset by a decline in Tiger Electronics.

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