UPDATE 2-Hasbro profit tops expectations; shares surge

(Adds CEO and analyst comments, stock rise)

NEW YORK, April 21 (Reuters) - Hasbro Inc (HAS.N: Quote, Profile, Research, Stock Buzz), the No. 2 U.S. toy company, posted a better-than-expected quarterly profit on Monday, helped by strong demand for its Transformers and Littlest Pet Shop lines, sending its shares up 9 percent.

The maker of Monopoly board games said first-quarter profit climbed 14 percent to $37.5 million, or 25 cents a share, from $32.9 million, or 19 cents a share, a year earlier.

Sales rose 13 percent to $704.2 million.

Analysts on average were expecting earnings of 14 cents a share on sales of $582.2 million, according to Reuters Estimates.

Hasbro said sales climbed 6 percent in the United States and Canada and 22 percent internationally.

The first quarter can be a challenging time of year for toy makers as demand falls after the holiday shopping period, when most purchases are made.

"Hasbro's sales gain was extremely impressive," said Sterne Agee analyst Margaret Whitfield. "Star Wars and board games are performing well ... They have done an incredible job across the board." Whitfield has a "buy" rating on Hasbro, the industry No. 2 behind Mattel Inc (MAT.N: Quote, Profile, Research, Stock Buzz).

Hasbro is aiming to boost sales during the second quarter as it rolls out items tied to potential blockbuster summer films "Iron Man," "Indiana Jones and the Kingdom of the Crystal Skull" and "The Incredible Hulk."