(Source: Business Wire)Hasbro, Inc. (NYSE: HAS) today reported net revenues of $1.28 billion, compared to $1.30 billion a year ago, a decrease of 2%. Net revenues grew 1%, excluding the negative $36.0 million impact of foreign exchange. The Company reported net earnings of $150.4 million, or $0.99 per diluted share, compared to $138.2 million or $0.89 per diluted share in 2008. The 2009 third quarter results include a $0.03 per share dilutive impact from the Company's investment in its joint venture with Discovery Communications and initial investments in Hasbro's virtual studio.

"Hasbro performed well in what is continuing to be a challenging global environment. We grew revenues absent the impact of foreign exchange and we grew earnings and earnings per share including the dilution from the investments we are making in our joint venture with Discovery Communications and Hasbro's virtual studio," said Brian Goldner, President and Chief Executive Officer.

"We believe we can grow revenues in 2009 if our consumer retail takeaway continues to improve in line with recent fourth quarter trends. We also continue to believe that the underlying strength of our brands and our commitment to our strategy will enable us to grow earnings per share in 2009, including the expected dilution from our television investment," Goldner concluded.

U.S. and Canada segment net revenues were $791.9 million, compared to $821.0 million in 2008. The results reflect a strong performance in the boys category offset by declines in girls, preschool and the games and puzzles category. The U.S. and Canada segment reported an operating profit of $129.1 million, compared to $131.9 million in 2008.

International segment net revenues were $444.1 million, compared to $460.6 million in 2008. Revenues grew 4%, absent a negative foreign exchange impact of $34.3 million. The results reflect growth in boys and preschool categories offset by declines in the girls and the games and puzzles category. The International segment reported an operating profit of $64.1 million compared to operating profit of $65.8 million in 2008.

Entertainment and Licensing segment net revenues were $41.6 million, compared to $18.3 million in 2008. The results primarily reflect increases in TRANSFORMERS and G.I. JOE. The Entertainment and Licensing segment reported an operating profit of $19.8 million compared to operating profit of $6.3 million in 2008. The Entertainment and Licensing segment includes television, movies, lifestyle and digital licensing and on-line entertainment operations.

"As we look to the remainder of the year, we are well positioned with a broad-based portfolio that is both innovative and priced right for today's value oriented consumer. We will also continue to focus on managing our business efficiently while investing for the long term," said Deborah Thomas, Chief Financial Officer.

The Company anticipates dilution of $0.04 to $0.05 per diluted share in the fourth quarter due to the investment in the joint venture with Discovery Communications and Hasbro's virtual studio. In 2010, the expected dilution is $0.25 to $0.30 per diluted share.

During the quarter, the Company spent a total of $30.2 million to repurchase 1.1 million shares of common stock. As of quarter end, there was $222.2 million remaining in the current share repurchase authorization from the board of directors.

The Company will webcast its third quarter earnings conference call at 8:30 a.m. Eastern Time today. To listen to the live webcast, go to http://investor.hasbro.com, and click on the webcast microphone. The replay will be available on Hasbro's web site approximately 2 hours following completion of the call.

Hasbro, Inc. is a worldwide leader in children's and family leisure time products and services with a rich portfolio of brands and entertainment properties that provides some of the highest quality and most recognizable play and recreational experiences in the world. As a brand-driven, consumer-focused global company, Hasbro brings to market a range of toys, games and licensed products, from traditional to high-tech and digital, under such powerful brand names as TRANSFORMERS, PLAYSKOOL, TONKA, MILTON BRADLEY, PARKER BROTHERS, CRANIUM and WIZARDS OF THE COAST. Come see how we inspire play through our brands at www.hasbro.com. (C) 2009 Hasbro, Inc. All Rights Reserved.

Certain statements contained 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 2009 and 2010, including with respect to its revenues and earnings per share, potential future dilution associated with the joint venture with Discovery Communications, future opportunities 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.