Today, Hasbro, Inc. (NASDAQ: HAS) reported its financial results for the fourth-quarter and full-year of 2019. Shares of the company went up almost 10% in pre-market trading.
Hasbro announced for the full-year of 2019 an increased net revenue of USD 4.72 billion, up 3% year-to-year. Net earnings were USD 520.5 million for the full-year of 2019, or USD 4.05 per diluted share, compared to USD 220.4 million, or USD 1.74 per diluted share in the same period last year.
Fourth-quarter 2019 net revenues grew 3% to USD 1.43 billion, compared to USD 1.39 billion in the same period 2018. Net earnings for the fourth-quarter 2019 were USD 267.3 million, or USD 2.01 earnings per share, in comparison with USD 8.8 million or USD 0.07 per diluted share in 2018.
Brian Goldner, Hasbro’s Chairman and CEO said: “The global Hasbro team delivered a good year and achieved key objectives we set for 2019. We profitably grew revenues across regions absent foreign exchange supported by the successful execution of our channel strategy; we delivered growth in MAGIC: THE GATHERING driven by the successful launch of Arena and we executed at a high level during the holiday season.”
Hasbro’s Boards of Directors declared a quarterly dividend of USD 0.68 per share. Additionally the Company stated that the acquisition of eOne will be completed in the first-quarter of 2020.
“Our acquisition of Entertainment One accelerates our Brand Blueprint strategy and significantly expands our expertise and capabilities as a global play and entertainment company. Our teams are actively engaged to unlock value across our organization – in gaming, in toys, in consumer products and in entertainment,” added the Chief Executive Officer.
Hasbro is a play and entertainment company operating globally, committed to creating the world’s best play and entertainment experiences. The Company’s most famous brands include NERF, MAGIC: THE GATHERING, MY LITTLE PONY, TRANSFORMERS, PLAY-DOH, MONOPOLY and POWER RANGERS.