* Second-qtr sales rise 8 pct to $829.3 mln vs est. $839 mln
* Adjusted profit $0.36/share, in line with estimates
* Sales of games fall 12 pct
* Shares fall as much as 3.6 pct
(Adds details, CEO comment; updates shares)
July 21 Hasbro Inc, the second-largest
U.S. toymaker, reported lower-than-expected quarterly revenue as
sales of its games and preschool products fell for the second
Shares of the company, known for its My Little Pony toys and
action figures based on "Transformers" films and Marvel Comics
characters, fell as much as 3.6 percent on the Nasdaq on Monday.
Hasbro's U.S. and Canada sales declined 2 percent in the
second quarter on lower demand for games as children shift to
the electronic versions of the games on smartphones and tablets.
Sales of games, Hasbro's second-largest business that
includes the high-margin trading card game Duel Masters, fell 12
percent, the highest decline in three years.
Hasbro expects games including My Monopoly, Simon Swipe and
Battle Masters featuring "Transformers" and Marvel Comics
characters to boost sales in the holiday season, Chief Executive
Brian Goldner said on a post-earnings conference call.
"We have compelling new innovative games across consumer
groups," Goldner said.
Last week, larger rival Mattel Inc reported a 17
percent fall in quarterly sales of its Fisher-Price preschool
Mattel also posted its third straight fall in quarterly
revenue as demand for its traditional toys in North America
remained weak and sales of its Barbie doll declined the most
While Hasbro's sales of games and preschool products
remained weak in the quarter ended June 29, the company saw
strong demand for its action toys amid the release of the latest
"Transformers" and "Spider-Man" movies.
Hasbro owns the "Transformers" brand and holds toy licenses
for Marvel Comics' characters such as Spider-Man and Iron Man,
who have had phenomenal box office success over the past few
Total revenue rose about 8 percent to $829.3 million as
international sales jumped 17 percent, driven by double-digit
growth in Europe, Latin America and Asia-Pacific region.
Sales of boys' toys, Hasbro's largest business, rose 32
percent. Sales of girls' toys such as My Little Pony and Nerf
Rebelle bow and arrow toys, which drove the company's revenue in
the March quarter, rose 10 percent.
The company's net income fell 8.2 percent to $33.5 million,
or 26 cents per share. Excluding items, Hasbro earned 36 cents
Analysts on average had expected a profit of 36 cents per
share on revenue of $839 million, according to Thomson Reuters
Hasbro's shares were down 2.9 percent at $51.64 in late
morning trading. The stock had risen 14 percent this year to
(Reporting by Shailaja Sharma in Bangalore; Editing by Kirti