Sales of girls’ toys boost Hasbro 1Q profits

Demonstrator Kaitlin Large practices with the NERF REBELLE HEARTBREAKER Bow in Hasbro’s showroom at the American International Toy Fair, Saturday, Feb. 9, 2013, in New York. (Photo by Jason DeCrow/Invision for Hasbro/AP Images)

PAWTUCKET, R.I. (AP) – Hasbro returned to profitability in its first quarter, driven by sales of girls’ toys such as My Little Pony and Nerf Rebelle. The prior-year period was dragged down by restructuring charges.

The Pawtucket company earned $32.1 million, or 24 cents per share, for the period ended March 30. That compares with a loss of $6.7 million, or 5 cents per share, a year ago.

Stripping out favorable tax adjustments, earnings were 14 cents per share.

Analysts expected earnings of 10 cents per share.

Revenue climbed 2 percent to $679.5 million from $663.7 million, but missed Wall Street’s estimate of $690.1 million.

Last week rival Mattel Inc. reported an unexpected first-quarter loss, hurt by soft Barbie sales and markdowns to clear excess inventory.

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