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Hasbro beats 4Q forecast
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February 8, 2000: 9:12 a.m. ET
Strong sales of Pokemon, Monopoly spur strong holiday season results
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NEW YORK (CNNfn) - Toy manufacturer Hasbro beat fourth-quarter earnings expectations Tuesday, driven by strong sales of Pokemon toys and game as well as traditional games such as Monopoly.
For the fourth quarter, which includes the crucial year-end holidays, Hasbro reported earnings before special charges of $155.4 million, or 79 cents a share. Analysts surveyed by First Call were looking for 74 cents in the period. The company had net income of $131.8 million, or 65 cents a share, a year earlier.
The Pawtucket, R.I.-based toy company had a previously announced after-tax charge of $97.7 million due to a re-organization at the company. Including that and other items, net income came to $57.7 million, or 29 cents a share.
Revenue in the period rose to $1.59 billion from $1.30 billion a year earlier.
The revenue figure put Hasbro just $180 million below archrival Mattel, long the nation's No. 1 toy maker, which last week reported fourth-quarter revenue of $1.77 billion. Unlike Hasbro, Mattel has been struggling, posting a fourth-quarter loss that led to the resignation of chairwoman Jill Barad.
For the year, the company had net income of $189.0 million, or 93 cents a share, compared with $206.4 million, or $1 a share, in 1998. Revenue for the year was up 28 percent to $4.2 billion from $3.3 billion in 1998.
Shares of Hasbro (HAS: Research, Estimates) rose 3/16 to 16-1/16 in trading Monday. 
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Hasbro
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