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updated: 2/10/2014 7:59 AM

Hasbro 4Q performance slips, hurt by charges

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PAWTUCKET, R.I. -- Hasbro's fourth-quarter net income edged down slightly, hurt by some charges during the critical holiday selling period.

The November and December holiday season is important because companies can make 40 percent or more of their annual revenue then.

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Hasbro's shares fell in early premarket trading.

Its sales of toys in the boys' category dropped 16 percent in the quarter. Preschool sales dipped 1 percent. There was strength in the girls' category, which reported a 19 percent sales increase. Sales of games climbed 2 percent.

Hasbro Inc.'s brands include My Little Pony, Transformers and Monopoly.

Last month rival Mattel Inc.'s fourth-quarter results missed analysts' estimates as sales of toys like Barbie and Fisher-Price preschool items dropped.

For the period ended Dec. 29, Hasbro earned $129.8 million, or 98 cents per share. That compares with $130.3 million, or 99 cents per share, a year ago.

Excluding restructuring charges, pension costs and product-related charges, as well as a benefit related to a legal settlement, earnings were $1.12 per share. Analysts surveyed by FactSet expected earnings of $1.21 per share.

Revenue for the Pawtucket, R.I., company was basically flat at $1.28 billion. Analysts expected revenue of $1.3 billion.

Hasbro said its full-year net income fell 15 percent to $286.2 million, or $2.17 per share, from $336 million, or $2.55 per share, in the previous year.

Adjusted earnings were $2.83 per share.

Annual revenue dipped to $4.08 billion from $4.09 billion.

Hasbro also announced Monday that it is raising its quarterly dividend by 8 percent to 43 cents per share from 40 cents per share. The dividend will be paid on May 15 to shareholders of record on May 1.

The company's stock shed $1.52, or 3 percent, to $48.57 in premarket trading about 2 hours ahead of the market open.

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