PAWTUCKET, R.I. (AP) — Hasbro returned to a profit in its fourth quarter, but the toy company’s performance still fell short of Wall Street’s expectations as it continues to deal with the demise of Toys R Us.
Shares fell 7.3 percent in Friday premarket trading.
Hasbro Inc., whose brands include Nerf and Power Rangers, earned $8.8 million, or 7 cents per share, for the period ended Dec. 30. A year earlier it lost $5.3 million, or 4 cents per share.
Stripping out one-time gains and costs, earnings were $1.33 per share. That’s sharply below the $1.68 per share that analysts polled by Zacks Investment Research expected.
Revenue for the company based in Pawtucket, Rhode Island, dropped 13 percent to $1.39 billion, short of the $1.52 billion Wall Street predicted.