This page contains affiliate links. We may earn commissions when readers interact with or purchase items through these links. For more information, see our affiliate disclosures here.
The official Hasbro Transformers website has opened its fan choice poll for the Hall of Fame 2013 inductees. Just like the Fan Built Bot Poll, you can vote once a day, every day, until Friday June 21, for one of the following (two will eventually pass): Ultra Magnus, Arcee, Beast Wars Megatron, Rodimus/Hot Rod, Prowl.
Hello, TRANSFORMERS fans!
The time has come for the public at large to select two Fans’ Choice robot inductees to make up the class of 2013 for the TRANSFORMERS Hall of Fame! Drawn from an open nomination process as voted upon by the readers of TRANSFORMERS fan sites, the five beloved TRANSFORMERS characters who garnered the most votes are now online at TRANSFORMERS.COM for an open vote. The two characters who receive the most votes by 11:59 p.m. ET on June 21st will be inducted into the TRANSFORMERS Hall of Fame!
The five nominees, in alphabetical order, are:
ARCEE
MEGATRON (Beast Wars)
PROWL
RODIMUS/HOT ROD
ULTRA MAGNUS
Please let your readers know that the voting period is open from now until 11:59 p.m. ET on June 21st. The two characters receiving the most fan votes in the final polling will be announced at Hasbro’s panel on Saturday, June 29th, at TRANSFORMERS BotCon in San Diego!
The Universal Orlando Resort Facebook page is trying to set off a new internet craze to promote the opening of the Transformers: The Ride 3D attraction: Optimus Priming! Take a look below at how you could feature on the Facebook cover photo of the grand opening, by simply striking a pose.
Be part of the next internet craze, Optimus #Priming! Show us you’re ready for TRANSFORMERS: The Ride - 3D by replicating the iconic Optimus Prime pose and SHARE your own #priming photos to our Facebook wall. If selected you could be one of the lucky fans that will be featured in our Facebook cover photo on grand opening day, June 20.
Not the biggest news, but it appears The Hub is in the process of rebranding itself to Hub Network. This news reaches us from Nick and More!, who after doing a little internet sleuthing have found that HubNetwork.com is now registered to The Hub’s SVP Business and Legal Affairs Joshua Meyer. Nick and More! speculate the move may be to improve search engine optimization. No word on when the change will become official, they also revealed Hub Network's new logo.
Hasbro continues to lay off employees, according to an article which ran last week on Golocalprov.com. Hasbro was looking to expand in 2012 but instead they laid off 125 workers and so far this year 50 which started back in March. First quarter sales are up this year but probably not enough to offset the decline from 2012. With a new movie on the horizon hopefully the Transformers brand can increase revenue further in the coming years.
Several fan-favorite Hasbro employees who have been regular convention participants, such as Aaron Archer, are among the rumored list of employees laid off. We are looking for further confirmation on which employees from the Transformers brand were let go and will report on this information as it becomes publicly known. Seibertron.com wishes everyone the best of luck with their new endeavors during these challenging times.
Golocalprov.com wrote:Hasbro said that fourth-quarter 2012 profits dropped because of lower than anticipated demand in the U.S. and Canada and slow sales of games and puzzles during the holiday shopping season. In a February 2013 interview with Examiner.com, CEO Goldner said, “In 2012, we met many of the objectives we set for Hasbro. Based on preliminary results, we returned the U.S. and Canada segment to historical operating profit levels; we grew revenues in the Games category against our 2012 objective of stabilizing revenues; and we grew revenues in our Girls category. We also experienced double digit growth in our emerging markets business and achieved profitability in most major emerging markets a year ahead of our plan.
Golocalprov.com wrote:According to Hasbro’s report on growth for 1st quarter, 2013 released on April 22nd, 2013, net revenues increased 2% to $663.7 million for the first quarter of 2013 versus $648.9 million for the 1st quarter 2012. The US and Canada segment is up 4%. The international segment remained flat. The entertainment and licensing segment is up 5%. Much of this has been attributed to “cost saving initiatives.” The company is undertaking said initiatives to better align resources and costs while targeting $100 million in annual savings by 2015.
In spite of recent upticks in revenues, layoffs have continued; a sign that restructuring continues. However, according to URI Economics Professor, Leonard Lardaro, “… as a publicly traded company, they will often have to respond to things well beyond whatever deals they might have with the state of RI.
DeNA and Hasbro Rollout TRANSFORMERS: LEGENDS Free-to-Play Game for Android, iPhone, iPad and iPod touch
Choose to Protect Mankind as AUTOBOTS or Steal Earth's Resources as DECEPTICONS in the Ultimate TRANSFORMERS Mobile Card Battle Game
SAN FRANCISCO - April 25, 2013 - DeNA Co., Ltd. (TSE: 2432) and Hasbro, Inc. (NASDAQ: HAS) have released TRANSFORMERS: LEGENDS, an action card battle game based on the TRANSFORMERS franchise, on the App Store for iPhone, iPad and iPod touch and on Google Play for Android devices.
TRANSFORMERS: LEGENDS sets players on a war-torn Earth where they will choose to build a team of AUTOBOTS or DECEPTICONS to travel through two adventurous storylines, and battle against one another in intense player-versus-player combat.
"The TRANSFORMERS brand is a fantastic universe for our development team to create a fast-paced gameplay experience with gorgeous visuals, original characters, and never-before-seen game mechanics in the card-battle genre," said Clive Downie, CEO of DeNA West. "TRANSFORMERS: LEGENDS packs an extraordinary amount of fun and engaging action into mobile devices for everyone, from the most devout TRANSFORMERS fans to those players that might be experiencing the ‘More Than Meets the Eye' property for the first time."
Inspired by the "first generation" characters and styling of the TRANSFORMERS brand introduced by Hasbro in the 1980's, players can collect hundreds of diverse TRANSFORMERS characters in their "Robot Mode" and "Alt Mode," which can be used in battle or to upgrade and level up other cards to create an even stronger deck. Players can also collect and combine the matching Robot and Alt modes of the same TRANSFORMERS characters to create stronger AUTOBOTS and DECEPTICONS with special bonuses in battle, giving players a powerful advantage against their opponents.
"This is our first time working with DeNA and we're excited to be teaming with their mobile game experts on our first official TRANSFORMERS mobile card-battle game," said Mark Blecher, Senior Vice President, Digital Gaming at Hasbro. "The launch of TRANSFORMERS: LEGENDS is a great opportunity for us to share the TRANSFORMERS brand with the millions of game players across DeNA's Mobage social network."
TRANSFORMERS: LEGENDS introduces new gameplay sequences during campaign missions where players can intercept enemy missiles in real-time as they scan battlefields for new TRANSFORMERS characters and other rewards. Player-versus-player matches give players an opportunity to showcase their most powerful TRANSFORMERS characters against opponents from around the world. Regular live events will be hosted in TRANSFORMERS: LEGENDS where hundreds of players can battle against their greatest enemies in order to save the world or mine it for its vital resources.
About DeNA
DeNA Co., Ltd. is a global leader in mobile Internet services focused on social games and e-commerce. DeNA operates the Mobage platform, which offers freemium mobile social games developed by DeNA and third-party developers on multiple user networks localized for the West, Japan, Greater China and Korea. Founded in 1999, DeNA is headquartered in Tokyo with offices and development studios in 10 countries and regions. DeNA is listed on the Tokyo Stock Exchange (2432). For more information, visit: dena.com
About Hasbro's TRANSFORMERS brand
First introduced in 1984 by Hasbro and Takara Tomy, the TRANSFORMERS brand has provided kids with hours of MORE THAN MEETS THE EYE fun with their action figures that convert from robot to vehicles and back again. Legions of kids around the world grew up creating fantastic adventures and battles set on both the planet CYBERTRON and Earth that featured the "good-guy" AUTOBOTS and the "bad-guy" DECEPTICONS. Since then, more than 7,500 robots have been introduced in animated TV series, comic books, three live-action feature films, thrill rides and more.
TRANSFORMERS and all associated characters are trademarks of Hasbro. Apple, and App Store are trademarks of Apple Inc. Android and Google Play are trademarks of Google Inc. All other marks and names are trademarks of their respective companies.
For those of you interested in the financial side of things over at Hasbro, we are posting the company's financial statement, which appears to be reporting a growth for the first quarter of 2013.
Hasbro Reports Growth for the First Quarter 2013
Revenues, Operating Profit and Earnings Per Share Increase Year-over-Year Absent Charges
Net revenues increased 2% to $663.7 million for the first quarter 2013 versus $648.9 million for the first quarter 2012; U.S. and Canada segment up 4%; International segment flat; Entertainment and Licensing segment up 5%;
Operating Profit increased 47% to $39.6 million, excluding $28.9 million in charges associated with restructuring actions in 2013 and $11.1 million in 2012;
Net earnings increased 30% to $6.6 million or $0.05 per diluted share, excluding the restructuring charges and favorable tax adjustments of $5.5 million in the first quarter 2013 and restructuring charges in 2012;
As reported, first quarter 2013 net loss of $6.7 million, or ($0.05) per diluted share compared to a first quarter 2012 net loss of $2.6 million, or ($0.02) per diluted share;
The Games, Girls and Preschool categories grew in the quarter;
Growth across vast majority of Franchise Brands; Greater than 30% revenue growth in MY LITTLE PONY, MAGIC: THE GATHERING and PLAY-DOH; MARVEL up more than 20%.
PAWTUCKET, R.I.--(BUSINESS WIRE)-- Hasbro, Inc. (NASDAQ: HAS) today reported financial results for the first quarter 2013. Net revenues for the quarter increased 2% to $663.7 million compared to $648.9 million in 2012. First quarter 2013 net revenues include a negative $3.3 million impact of foreign exchange.
As reported, the net loss for the first quarter 2013 was $6.7 million, or ($0.05) per diluted share compared to a net loss of $2.6 million, or ($0.02) per diluted share, in 2012. The first quarter 2013 was a 13-week period compared to the first quarter 2012 which was a 14-week period.
As adjusted, net earnings for the first quarter 2013 increased 30% to $6.6 million, or $0.05 per diluted share. This excludes pre-tax charges of $28.9 million, or $0.14 per diluted share, associated with previously disclosed restructuring actions as well as favorable tax adjustments of $5.5 million, or $0.04 per diluted share. First quarter 2012 net earnings were $5.1 million, or $0.04 per diluted share, excluding $11.1 million, or $0.06 per diluted share, of restructuring charges.
"We entered 2013 with a heightened focus on our brands, organization and profitability, and delivered a good start to the year. In the first quarter, our global Hasbro teams generated revenue growth and strong underlying profitability growth," said Brian Goldner, Hasbro's President and Chief Executive Officer. "We are creating innovative consumer experiences across our brand blueprint globally while improving efficiencies and focus throughout our business. Our emerging markets continued to post double-digit revenue gains while the U.S. and Canada team delivered another quarter of revenue growth backed by profitability improvement. The re-invention of our Games business led to another quarter of revenue growth in the Games category while brand innovation and new initiatives delivered gains in the Girls and Preschool categories."
Cost Savings Initiative
As previously announced, the Company is undertaking a cost savings initiative designed to better align resources and costs while targeting $100 million in annual savings by 2015.
During the first quarter 2013, the Company incurred $28.9 million in pre-tax charges, or $0.14 per diluted share, associated with this initiative. The Company currently expects full year charges of $30 to $35 million, prior to potential pension charges. Potential pension charges could be up to $10 million dependent on the type of benefit payments pension participants request during the remainder of 2013.
Gross savings for 2013 are now expected to be $45 to $48 million, resulting in expected net savings of $13 to $15 million for the full-year, prior to potential pension charges.
Note:2013 restructuring charges are primarily in Corporate and Eliminations.$1.7 million is in the Entertainment and Licensing segment.See attached table: Supplemental Financial Data, Restructuring Charges.
U.S. and Canada segment net revenues increased 4% to $342.1 million compared to $329.0 million in 2012. The results reflect growth in the Girls and Games categories. The U.S. and Canada segment reported 162% growth in operating profit to $37.7 million compared to $14.4 million in 2012.
International segment net revenues were essentially flat at $289.8 million compared to $289.7 million in 2012. Net revenues in the International segment grew 1% excluding a negative $3.0 million impact of foreign exchange. Revenues in the International segment reflect growth in Latin America and Asia Pacific as well as the Games, Girls and Preschool categories. The International segment reported an operating loss of $4.5 million compared to an operating loss of $5.1 million in 2012.
Entertainment and Licensing segment net revenues increased 5% to $30.8 million compared to $29.3 million in 2012. The segment primarily benefited from the sale of television programming. The Entertainment and Licensing segment reported an operating profit of $5.3 million compared to $7.7 million in 2012.
For the first quarter 2013, net revenues in the Boys category decreased 20% to $242.8 million. MARVEL, NERF and G.I. JOE product revenues grew in the quarter, while several brands faced difficult comparisons with the first quarter 2012.
The Games category continued its positive momentum from year end, posting 26% revenue growth in the first quarter 2013 versus last year. Games that grew in the quarter include MAGIC: THE GATHERING products, Boys Action Gaming with ANGRY BIRDS STAR WARS and TRANSFORMERS games, the re-invention of TWISTER with the TWISTER RAVE line in Girls Gaming and MONOPOLY which was led by a tremendously successful global campaign to "Save Your Token."
The Girls category also continued its year-end growth trend, increasing 23% in the quarter. FURBY, MY LITTLE PONY and ONE DIRECTION products contributed to the year-over-year gains.
The Preschool category also grew in the first quarter, increasing 8% to $75.2 million. PLAY-DOH and PLAYSKOOL HEROES brands continued to grow in the quarter.
Dividend and Share Repurchase
On February 6, 2013, Hasbro declared a quarterly cash dividend of $0.40 per common share, an increase of $0.04 per share, or 11%, from the previous quarterly dividend of $0.36 per common share. The dividend will be payable on May 15, 2013 to shareholders of record at the close of business on May 1, 2013.
During the first quarter 2013, the Company repurchased a total of 519,600 shares of common stock at a total cost of $20.2 million and an average price of $38.81 per share. At quarter end, $107.1 million remained available in the current share repurchase authorization.
Hasbro will webcast its first quarter 2013 earnings conference call at 8:30 a.m. Eastern Time today. To listen to the live webcast, please go to http://investor.hasbro.com. The replay of the call will be available on Hasbro's web site approximately 2 hours following completion of the call. Additionally, presentation slides associated with today's conference call are available on Hasbro's website at http://investor.hasbro.com.
About Hasbro
Hasbro, Inc. (NASDAQ: HAS) is a branded play company dedicated to fulfilling the fundamental need for play for children and families through creative expression of the Company's world class brand portfolio, including TRANSFORMERS, MONOPOLY, PLAY-DOH, MY LITTLE PONY, MAGIC: THE GATHERING, NERF, LITTLEST PET SHOP and G.I. JOE. From toys and games, to television programming, motion pictures, digital gaming and a comprehensive licensing program, Hasbro strives to delight its global customers with innovative play and entertainment experiences, in a variety of forms and formats, anytime and anywhere. The Company's Hasbro Studios develops and produces television programming for more than 170 markets around the world, and for the U.S. on The Hub TV Network, part of a multi-platform joint venture between Hasbro and Discovery Communications (NASDAQ: DISCA, DISCB, DISCK). Through the Company's deep commitment to corporate social responsibility, including philanthropy, Hasbro is helping to build a safe and sustainable world for future generations and to positively impact the lives of millions of children and families every year. It has been recognized for its efforts by being named one of the "World's Most Ethical Companies," is ranked as one of Corporate Responsibility Magazine's "100 Best Corporate Citizens" and was named in the top 10 of the Civic 50 for its efforts to improve the quality of life in the communities where it does business. Learn more at www.hasbro.com.
Certain statements in this release contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These statements include expectations concerning the Company's potential performance in the future, including with respect to its planned cost savings initiative and profitability, and the Company's ability to achieve its other financial and business goals and may be identified by the use of forward-looking words or phrases. The Company's actual actions or results may differ materially from those expected or anticipated in the forward-looking statements due to both known and unknown risks and uncertainties. Specific factors that might cause such a difference include, but are not limited to: (i) the Company's ability to design, develop, produce, manufacture, source and ship new and continuing products on a timely and cost-effective basis, as well as interest in and purchase of those products by retail customers and consumers in quantities and at prices that will be sufficient to profitably recover the Company's development, manufacturing, marketing, royalty and other costs; (ii) global economic conditions, including recessions, credit crises or other economic shocks or downturns affecting the United States, Europe or any of the Company's other markets which can negatively impact the retail and/or credit markets, the financial health of the Company's retail customers and consumers, and consumer and business confidence, and which can result in lower employment levels, less consumer disposable income, and lower consumer spending, including lower spending on purchases of the Company's products; (iii) other factors which can lower discretionary consumer spending, such as higher costs for fuel and food, drops in the value of homes or other consumer assets, and high levels of consumer debt; (iv) potential difficulties or delays the Company may experience in implementing cost savings and efficiency enhancing initiatives in an effective manner; (v) other economic and public health conditions in the markets in which the Company and its customers and suppliers operate which impact the Company's ability and cost to manufacture and deliver products, such as higher fuel and other commodity prices, higher labor costs, higher transportation costs, outbreaks of disease which affect public health and the movement of people and goods, and other factors, including government regulations, which can create potential manufacturing and transportation delays or impact costs; (vi) currency fluctuations, including movements in foreign exchange rates, which can lower the Company's net revenues and earnings, and significantly impact the Company's costs; (vii) the concentration of the Company's customers, potentially increasing the negative impact to the Company of difficulties experienced by any of the Company's customers or changes by the Company's customers in their purchasing or selling patterns; (viii) greater than expected costs, or unexpected delays or difficulties, associated with The Hub TV Network, the Company's joint venture television network with Discovery Communications, LLC, Hasbro Studios, or the creation of new content to appear on The Hub TV Network and elsewhere; (ix) consumer interest in and acceptance of The Hub TV Network, and programming created by Hasbro Studios, and other factors impacting the financial performance of the network and Hasbro Studios; (x) the inventory policies of the Company's retail customers, including retailers' potential decisions to lower the inventories they are willing to carry, even if it results in lost sales, as well as the concentration of the Company's revenues in the second half and fourth quarter of the year, which coupled with reliance by retailers on quick response inventory management techniques increases the risk of underproduction of popular items, overproduction of less popular items and failure to achieve tight and compressed shipping schedules; (xi) delays, increased costs or difficulties associated with any of our planned media initiatives; (xii) work stoppages, slowdowns or strikes, which may impact the Company's ability to manufacture or deliver product in a timely and cost-effective manner; (xiii) the bankruptcy or other lack of success of one of the Company's significant retailers which could negatively impact the Company's revenues or bad debt exposure; (xiv) the impact of competition on revenues, margins and other aspects of the Company's business, including the ability to secure, maintain and renew popular licenses and the ability to attract and retain talented employees in a competitive environment; (xv) concentration of manufacturing for many of the Company's products in the People's Republic of China and the associated impact to the Company of public health conditions and other factors affecting social and economic activity in China, affecting the movement of products into and out of China, and impacting the cost of producing products in China and exporting them to other countries; (xvi) the risk of product recalls or product liability suits and costs associated with product safety regulations; (xvii) other market conditions, third party actions or approvals and the impact of competition which could reduce demand for the Company's products or delay or increase the cost of implementation of the Company's programs or alter the Company's actions and reduce actual results; and (xviii) other risks and uncertainties as may be detailed from time to time in the Company's public announcements and Securities and Exchange Commission ("SEC") filings. The Company undertakes no obligation to make any revisions to the forward-looking statements contained in this release or to update them to reflect events or circumstances occurring after the date of this release.
This press release includes a non-GAAP financial measure as defined under SEC rules, specifically EBITDA. EBITDA represents net earnings excluding interest expense, income taxes, depreciation and amortization. As required by SEC rules, we have provided reconciliation on the attached schedule of this measure to the most directly comparable GAAP measure. Management believes that EBITDA is one of the appropriate measures for evaluating the operating performance of the Company because it reflects the resources available for strategic opportunities including, among others, to invest in the business, strengthen the balance sheet, and make strategic acquisitions. However, this measure should be considered in addition to, not as a substitute for, or superior to, net earnings or other measures of financial performance prepared in accordance with GAAP as more fully discussed in the Company's financial statements and filings with the SEC. As used herein, "GAAP" refers to accounting principles generally accepted in the United States of America.
This press release also includes the Company's International segment net revenues excluding the impact of changes in exchange rates. Management believes that the presentation of International segment net revenues excluding the impact of exchange rate changes provides information that is helpful to an investor's understanding of the underlying business performance absent exchange rate fluctuations which are beyond the Company's control. Also presented is the Company's 2013 and 2012 costs and expenses and operating profit excluding the impact of restructuring charges, 2013 net earnings and diluted earnings per share excluding restructuring charges and certain net favorable discrete tax benefits, and 2012 net earnings and diluted earnings per share excluding restructuring charges. Management believes that presenting this data excluding restructuring charges assists investors understanding of the underlying performance of the results of operations. Further, while the 2013 net favorable discrete tax adjustments were not unusual, due to the relative size of earnings in the first quarter of 2013, these adjustments had a significant favorable impact on the reported results.
Hasbro, Inc.
Debbie Hancock
Investor Relations
or
Wayne Charness
News Media
Source: Hasbro, Inc.
Hasbro released a new press release across the news wire at 4:00 p.m. EST today.
Hasbro wrote:For the first time in its history, Hasbro has unveiled a program in which Transformers fans can help create an all-new Transformers character that will be introduced into the brand's rich lore forever, including an action figure in next year's "Thrilling 30" anniversary line as well as appear in official Transformers comic books.
Further details can be found in the below release.
HASBRO INVITES KIDS AND FANS TO CREATE NEW TRANSFORMERS CHARACTER
Opening Globally Today, the “Fan Built Bot” Poll Kicks-Off Celebration of the Iconic Brand’s 30th Anniversary by Allowing Fans to Create New Transformers Character
Pawtucket, R.I. (April 18, 2013) — For the first time in history, the Hasbro, Inc. (NASDAQ: HAS) TRANSFORMERS brand is inviting fans of all ages around the globe to help create a new TRANSFORMERS character that will be forever added to the TRANSFORMERS world. In anticipation of the TRANSFORMERS’ brand 30th anniversary in 2014, the “Fan Built Bot” Poll kicks off today, and will run through May 5th on TRANSFORMERS.com/vote. Hasbro invites fans to vote daily to shape this new TRANSFORMERS character. The new character will be made into an action figure featured in the “Thrilling 30” line of toys to celebrate the anniversary.
Hasbro is giving kids and fans the opportunity to make the “Fan Built Bot” character with votes determining everything from being an AUTOBOT or DECEPTICON—to its vehicle or other mode, color, personality and more. Kids and fans are encouraged to vote daily! Also, to keep with the theme of the fans being the ones who really shape and create this new TRANSFORMERS character, Hasbro will also give fans a say in the naming of the new character. More details on the naming will be announced soon.
“Since 1984, the TRANSFORMERS brand has been bringing entertainment and excitement to kids and fans with our beloved characters like BUMBLEBEE and OPTIMUS PRIME. We invite all fans to help us kick off the 30th anniversary of TRANSFORMERS with a new character of their choice — for the first time in history,” said Jay Duke, vice president of the TRANSFORMERS brand at Hasbro. “This is the perfect way to kick off our anniversary celebration and the ‘Thrilling 30’ line of special edition figures. It will be tremendous fun for everyone to keep track of the entire process from the designing of the character; leading up to its introduction as a toy and watching it become a part of the TRANSFORMERS brand.”
The results of the poll will be announced by Hasbro at this year’s Comic-Con International in San Diego, as part of the official kick-off to Hasbro’s TRANSFORMERS “Thrilling 30” anniversary celebration. Kids and fans will be able to purchase the “Fan Built Bot” character as a toy and will see the new character appear in official TRANSFORMERS comic books.
Hasbro, Inc. (NASDAQ: HAS) is a branded play company dedicated to fulfilling the fundamental need for play for children and families through creative expression of the Company’s world class brand portfolio, including TRANSFORMERS, MONOPOLY, PLAY-DOH, MY LITTLE PONY, MAGIC: THE GATHERING, NERF, LITTLEST PET SHOP and G.I. JOE. From toys and games, to television programming, motion pictures, digital gaming and a comprehensive licensing program, Hasbro strives to delight its global customers with innovative play and entertainment experiences, in a variety of forms and formats, anytime and anywhere. The Company's Hasbro Studios develops and produces television programming for more than 170 markets around the world, and for the U.S. on The Hub TV Network, part of a multi-platform joint venture between Hasbro and Discovery Communications (NASDAQ: DISCA, DISCB, DISCK). Through the company's deep commitment to corporate social responsibility, including philanthropy, Hasbro is helping to build a safe and sustainable world for future generations and to positively impact the lives of millions of children and families every year. It has been recognized for its efforts by being named one of the "World's Most Ethical Companies" and is ranked as one of Corporate Responsibility Magazine's "100 Best Corporate Citizens." Learn more at http://www.hasbro.com.
We were pointed in the direction of a Gizmodo article, a very interesting look into how Transformers are made. It's a bit of a long read, but well worth it.
There are many interesting things to note, but we'll give you just this tidbit, a video and a picture to tide you over until you read the entire article.
It's a little like a Willy Wonka's Toy Factory hidden away in the middle of New England, right down to the litigiousness. "What happens if a kid signs the thing and then tells someone?" a student asked a Hasbro PR representative at a recent career day. (Hasbro employees are always a hit, shockingly.) "We'd sue them," the rep deadpanned to me. That sounds extreme, but when you consider that basically every planned product the company is working on is being paraded in front of and prodded by a bunch of kids sipping on Capri Suns, you sort of get it.
We weren't allowed on-site at the Fun Lab when we visited because they hadn't been prepped for our arrival. We asked if we could ditch the cameras and just pop our heads in, but no dice. It's that secretive. "Stuff being tested in there won't be out until 2015, 2016," a PR rep told me. Still, it's crucial step for Transformers in particular.
PAWTUCKET, R.I.--(BUSINESS WIRE)--Hasbro, Inc. (NASDAQ: HAS) today announced preliminary full-year 2012 results.
"In 2012, we met many of the objectives we set for Hasbro," said Brian Goldner, Hasbro’s President and Chief Executive Officer. "Based on preliminary results, we returned the U.S. and Canada segment to historical operating profit levels; we grew revenues in the Games category against our 2012 objective of stabilizing revenues; and we grew revenues in our Girls category. We also experienced double digit growth in our emerging markets business and achieved profitability in most major emerging markets a year ahead of our plan."
"We had a number of strong product initiatives, but consumer demand through much of the holiday season was less than anticipated in both the U. S. and certain international markets. As a result, fourth quarter revenues did not meet our expectations. Despite the lower than anticipated revenue, we grew our operating profit margin and earnings per share absent fourth quarter restructuring charges and the impact of foreign exchange," continued Goldner.
Based on preliminary full-year results, the Company expects to report earnings per diluted share for 2012, excluding fourth quarter restructuring charges, in the range of $2.73 to $2.75. This includes an approximate $0.10 per diluted share negative impact from foreign exchange in 2012. Absent the unfavorable impact of foreign exchange, earnings per diluted share excluding fourth quarter restructuring charges are expected to be in the range of $2.83 to $2.85.
Final 2012 reported earnings will reflect pre-tax restructuring charges of approximately $37 million recorded in the fourth quarter, or approximately $0.21 per diluted share, associated with the commencement of a cost savings initiative the Company is implementing. Additionally, 2012 earnings include $11.1 million, or $0.06 per diluted share, of previously announced severance costs recorded in the first quarter 2012. Reported 2012 earnings per diluted share are expected to be in the range of $2.52 to $2.54.
The Company’s reported 2011 earnings per diluted share of $2.82, which included the impact of a $20.5 million favorable tax adjustment, or $0.15 per diluted share, and pre-tax expense of $14.4 million, or $0.07 per diluted share, related to costs associated with establishing Hasbro’s Gaming Center of Excellence in Rhode Island. Earnings per diluted share for 2011 excluding these two items were $2.74.
Per diluted share
As Reported
Earnings
Per Share
Approximate
Impact of
Foreign
Exchange (FX)
Q4 12
Restructuring
Charges
Adjusted EPS
Excluding
Impact of FX &
Q4 12 Charges
Other,
Net (1)
EPS
Excluding
Charges and
Benefit
2012 (Estimated) $2.52 - $2.54 ($0.10) ($0.21) $2.83-$2.85 ($0.06) $2.89 - $2.91
2011 (Actual) $2.82 N/A N/A $2.82 $0.08 $2.74
The Company expects to report full-year 2012 revenues of approximately $4.09 billion, compared to $4.29 billion in 2011. Absent a $99 million negative impact from foreign exchange, full year 2012 revenues declined 2%. For the fourth quarter 2012, the Company anticipates revenues to be approximately $1.28 billion, including a negative $8 million impact from foreign exchange, compared to $1.33 billion in 2011.
"As we execute our branded play strategy, we are doing so in an industry with challenging growth prospects in certain geographies. During the fourth quarter we established a plan to deliver $100 million of annual cost savings by 2015. This plan focuses our efforts around developing content-rich brand initiatives consumers and retailers are responding to, thereby enabling Hasbro to focus on fewer, more significant global initiatives and enhancing shareholder returns in the coming years," said Goldner.
The Company expects to incur charges of approximately $37 million pre-tax in 2012, and an additional estimated $20-$30 million in 2013 associated with these planned actions to reduce ongoing expenses, including an approximate 10% reduction in workforce, facility consolidation and process improvements. These actions are anticipated to begin to deliver savings in 2013, with full recognition in 2015 as all aspects of the plan are implemented.
"We fundamentally believe our strategy is sound and we remain confident in our ability to drive profitable long-term growth through brand innovation," said Deb Thomas, Chief Financial Officer. "We believe a reduction in ongoing costs in a challenging environment will deliver the greatest long-term return to our shareholders."
(1) Other, net for 2012 includes the impact of the $11.1 million severance costs recognized during the first quarter of 2012. 2011 includes the impact of the $20.5 million favorable tax adjustment and $14.4 million of costs associated with establishing Hasbro’s gaming center of excellence.
Fourth Quarter and Full-Year 2012 Earnings Conference Call
The Company will provide more detailed information about its fourth quarter and full-year results, as well as its cost savings initiative, on Thursday, February 7, 2013 through its regularly scheduled financial results announcement and conference call. The call will be held at 5:00 PM the same day and the webcast will be available to investors and the media on Hasbro's Investor Relations home page at http://investor.hasbro.com. A replay of the call will be available at the same location approximately 2 hours following completion of the call.
Certain financial and statistical information included in the webcast, such as information required by Regulation G, will be available at the time of the webcast in the "Press Releases" section of Hasbro’s website at http://www.hasbro.com, under "Investor Relations."
HAS-E
About Hasbro
Hasbro, Inc. (NASDAQ: HAS) is a branded play company providing children and families around the world with a wide-range of immersive entertainment offerings based on the Company's world class brand portfolio. From toys and games, to television programming, motion pictures, digital gaming and a comprehensive licensing program, Hasbro strives to delight its global customers with innovative, well-known and beloved brands such as TRANSFORMERS, LITTLEST PET SHOP, NERF, PLAYSKOOL, MY LITTLE PONY, G.I. JOE, MAGIC: THE GATHERING and MONOPOLY. The Company’s Hasbro Studios develops and produces television programming for markets around the world. The Hub TV Network is part of a multi-platform joint venture between Hasbro and Discovery Communications (NASDAQ: DISCA, DISCB, DISCK), in the U.S. Through the Company's deep commitment to corporate social responsibility, including philanthropy, Hasbro is helping to build a safe and sustainable world for future generations and to positively impact the lives of millions of children and families every year. It has been recognized for its efforts by being named one of the "World’s Most Ethical Companies" and is ranked as one of Corporate Responsibility Magazine’s "100 Best Corporate Citizens." Learn more at http://www.hasbro.com.
Certain statements in this release contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These statements include expectations concerning the Company’s potential performance in 2012 and beyond, including with respect to its revenues, earnings per share, costs and profitability, and the Company’s ability to achieve its other financial and business goals and may be identified by the use of forward-looking words or phrases. The Company's actual actions or results may differ materially from those expected or anticipated in the forward-looking statements due to both known and unknown risks and uncertainties. Specific factors that might cause such a difference include, but are not limited to: (i) the Company's ability to design, manufacture, source and ship new and continuing products on a timely and cost-effective basis, as well as interest in and purchase of those products by retail customers and consumers in quantities and at prices that will be sufficient to profitably recover the Company’s development, manufacturing, marketing, royalty and other costs; (ii) global economic conditions, including recessions, credit crises or other economic shocks or downturns affecting the United States, Europe or any of the Company’s other markets which can negatively impact the retail and/or credit markets, the financial health of the Company’s retail customers and consumers, and consumer and business confidence, and which can result in lower employment levels, less consumer disposable income, and lower consumer spending, including lower spending on purchases of the Company’s products; (iii) other factors which can lower discretionary consumer spending, such as higher costs for fuel and food, drops in the value of homes or other consumer assets, and high levels of consumer debt; (iv) potential difficulties or delays the Company may experience in implementing cost savings and efficiency enhancing initiatives in an effective manner, (v) other economic and public health conditions in the markets in which the Company and its customers and suppliers operate which impact the Company's ability and cost to manufacture and deliver products, such as higher fuel and other commodity prices, higher labor costs, higher transportation costs, outbreaks of disease which affect public health and the movement of people and goods, and other factors, including government regulations, which can create potential manufacturing and transportation delays or impact costs; (vi) currency fluctuations, including movements in foreign exchange rates, which can lower the Company’s net revenues and earnings, and significantly impact the Company’s costs; (vii) the concentration of the Company's customers, potentially increasing the negative impact to the Company of difficulties experienced by any of the Company’s customers or changes by the Company’s customers in their purchasing or selling patterns; (viii) greater than expected costs, or unexpected delays or difficulties, associated with THE HUB TV Network, the Company’s joint venture television network with Discovery Communications, LLC, Hasbro Studios, or the creation of new content to appear on THE HUB TV Network and elsewhere; (ix) consumer interest in and acceptance of THE HUB TV Network, and programming created by Hasbro Studios, and other factors impacting the financial performance of the network and Hasbro Studios; (x) greater than expected costs or unexpected delays or difficulties associated with the creation of Hasbro’s Gaming Center of Excellence and the execution of the Company’s strategy for driving innovation and immersive play experiences in its gaming business; (xi) unexpected delays or difficulties in the Company’s execution of its plans to drive growth and increased profitability in its U.S. and Canada business; (xii) the inventory policies of the Company’s retail customers, including retailers’ potential decisions to lower the inventories they are willing to carry, even if it results in lost sales, as well as the concentration of the Company's revenues in the second half and fourth quarter of the year, which coupled with reliance by retailers on quick response inventory management techniques increases the risk of underproduction of popular items, overproduction of less popular items and failure to achieve tight and compressed shipping schedules; (xiii) delays, increased costs or difficulties associated with any of our planned entertainment initiatives; (xiv) work stoppages, slowdowns or strikes, which may impact the Company's ability to manufacture or deliver product in a timely and cost-effective manner; (xv) the bankruptcy or other lack of success of one of the Company's significant retailers which could negatively impact the Company's revenues or bad debt exposure; (xvi) the impact of competition on revenues, margins and other aspects of the Company's business, including the ability to secure, maintain and renew popular licenses and the ability to attract and retain talented employees in a competitive environment; (xvii) concentration of manufacturing for many of the Company’s products in the People’s Republic of China and the associated impact to the Company of public health conditions and other factors affecting social and economic activity in China, affecting the movement of products into and out of China, and impacting the cost of producing products in China and exporting them to other countries; (xviii) the risk of product recalls or product liability suits and costs associated with product safety regulations; (xix) other market conditions, third party actions or approvals and the impact of competition which could reduce demand for the Company’s products or delay or increase the cost of implementation of the Company's programs or alter the Company's actions and reduce actual results; (xx) the risk that anticipated benefits of acquisitions may not occur or be delayed or reduced in their realization; and (xxi) other risks and uncertainties as may be detailed from time to time in the Company's public announcements and Securities and Exchange Commission ("SEC") filings. The Company undertakes no obligation to make any revisions to the forward-looking statements contained in this release or to update them to reflect events or circumstances occurring after the date of this release.
This press release includes diluted earnings per share excluding the impact of changes in foreign exchange rates, restructuring charges recognized in both 2012 and 2011, and certain discrete income tax benefits related to the settlement of a tax examination in 2011. Management believes that the presentation of diluted earnings per share excluding the impact of exchange rates provides information that is helpful to an investor’s understanding of the underlying business performance absent exchange rate fluctuations which are beyond the Company’s control. Further, the Company provided the 2012 and 2011 diluted earnings per share absent restructuring charges and favorable tax adjustment to assist investors in understanding the comparability of the Company’s results.
Contacts
Hasbro, Inc.
Debbie Hancock, 401-727-5401 (Investor Relations)
or
Wayne S. Charness, 401-727-5983 (News Media)
Goto Page: <<1, 2, 3, 4, 5, 6 60 total news articles in this section, 10 per page.
* Price and quantities subject to change. Shipping costs, taxes and other fees not included in cost shown. Refer to listing for current price and availability.
![[Valid RSS]](/images/rss/valid-rss.png "Validate Seibertron.com's RSS feed"){kind=small}
/t-DSC01622.jpg)
