-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, O1okkBy5aIwJmRvrtfQOoXrYjyMHgwevmJRlVup/cwR3svZLhT2+Y9etqbxqLBf2 enRDQGNX7bf1mP/KQ7OCSQ== 0000046080-96-000002.txt : 19960603 0000046080-96-000002.hdr.sgml : 19960603 ACCESSION NUMBER: 0000046080-96-000002 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19960124 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 19960208 SROS: AMEX FILER: COMPANY DATA: COMPANY CONFORMED NAME: HASBRO INC CENTRAL INDEX KEY: 0000046080 STANDARD INDUSTRIAL CLASSIFICATION: 3944 IRS NUMBER: 050155090 STATE OF INCORPORATION: RI FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-06682 FILM NUMBER: 96513069 BUSINESS ADDRESS: STREET 1: 1027 NEWPORT AVE STREET 2: P O BOX 1059 CITY: PAWTUCKET STATE: RI ZIP: 02861 BUSINESS PHONE: 4014318697 FORMER COMPANY: FORMER CONFORMED NAME: HASBRO BRADLEY INC DATE OF NAME CHANGE: 19850814 FORMER COMPANY: FORMER CONFORMED NAME: HASBRO INDUSTRIES INC DATE OF NAME CHANGE: 19840917 FORMER COMPANY: FORMER CONFORMED NAME: HASSENFELD BROTHERS INC DATE OF NAME CHANGE: 19720615 8-K 1 8-K DOCUMENT SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 8-K CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES AND EXCHANGE ACT OF 1934 Date of Report (Date of Earliest Event Reported): February 8, 1996 ------------------------- HASBRO, INC. -------------------- (Name of Registrant) RHODE ISLAND 1-6682 05-0155090 - - -------------- ------------ ------------------- (State of (Commission (IRS Employer Incorporation) File Number) Identification No.) 1027 NEWPORT AVE., PAWTUCKET, RHODE ISLAND 02861 - - ------------------------------------------ ------------------- (Address of Principal Executive Offices) (Zip Code) (401) 431-8697 ------------------------------- (Registrant's Telephone Number) Item 5. Other Events The February 8, 1996 Press Release of the Registrant attached hereto as EXHIBIT 99 is incorporated herein by reference. Item 7. Financial Statements and Exhibits 99 Press Release, dated February 8, 1996, of Hasbro, Inc. SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. HASBRO, INC. ------------ (Registrant) Date: February 8, 1996 By:\s\John T. O'Neill ----------------------- John T. O'Neill Executive Vice President and Chief Financial Officer (Duly Authorized Officer and Principal Financial Officer) HASBRO, INC. Current Report on Form 8-K Dated February 8, 1996 Exhibit Index Exhibit No. Exhibits - - ------- -------- 99 Press Release dated February 8, 1996 EX-99 2 PRESS RELEASE EXHIBIT 99 For Immediate Release Contact: John T. O'Neill February 8, 1996 Telephone: 401-431-8500 HASBRO, INC. ANNOUNCES RECORD RESULTS FOR FOURTH QUARTER 1995 Pawtucket, RI (February 8, 1996) -- Hasbro, Inc. (HAS:ASE) today reported its results for the fourth quarter and full year ended December 31, 1995. The Company reported that fourth quarter net revenues and earnings reached record levels for any quarter in its history and also that, for the first time, quarterly revenues exceeded the billion dollar level. Net revenues were $1,023,688,000, an increase from the $940,583,000 of the corresponding quarter a year earlier. Net earnings, at $85,209,000, increased 12% from last year's fourth quarter record of $75,813,000. Earnings per share for the quarter increased to $.97 from $.86 in the same period a year ago. For the year, net revenues were $2.858 billion compared to the $2.670 billion reported in 1994. Absent the effect of a 1995 second quarter pretax charge of $31,100,000 related to discontinued development efforts, full year earnings were $174,728,000 or $1.98 per share, compared to $175,033,000, or $1.96 per share a year ago. 1995 net earnings were $155,571,000, or $1.76 per share. Alan G. Hassenfeld, Chairman and Chief Executive Officer, commenting on the results stated that "we are pleased with our growth of 9% in revenues and 12% in earnings during the fourth quarter, especially in light of the difficult world-wide retail environment." "Each of our major units, the toy group, games group and international, produced revenue growth during the quarter. The games group again led the way, up more than 15% from a year ago - that on top of an 11% growth in the fourth quarter of 1994. The toy group, after lagging 1994 during the second and third quarters of 1995, finished on a positive note, exceeding last year's fourth quarter level. Internationally, the European and Asia/Pacific marketing operations reported revenue growth of more than 9%, which grew to more than 12% when impacted by the positive effect of changed foreign currency rates. Products showing significant strength during the Christmas season included the Batman(R) range, both internationally and domestically, Star Wars(R), action figures and vehicles, Mr. Potato Head(R), classic games such as Scrabble(R), and Monopoly(R), new game introductions including Lucky Ducks(TM) and Chicken Limbo(TM) and our interactive CD-ROM version of Monopoly." Mr. Hassenfeld continued, "It is worth noting that our 12% earnings growth during the quarter came in spite of investment spending in, and marginal contributions from, certain of our newer operations. We believe that these operations will help to fuel our earnings growth in the future." Mr. Hassenfeld concluded, "We believe that our recent reorganization played an important role in the growth we achieved during the fourth quarter. That move, along with the momentum we have going into the new year and our well received 1996 product line, position us well for the future and for our commitment to enhance shareholder value." # # # (Tables Attached) HASBRO, INC. CONSOLIDATED STATEMENTS OF EARNINGS (Thousands of Dollars and Shares Except Per Share Data) Quarter Ended Year Ended(1) ------------------ -------------------- Dec. 31, Dec. 25, Dec. 31, Dec. 25, 1995 1994 1995 1994 --------- ------- --------- --------- Net Revenues $1,023,688 $940,583 $2,858,210 $2,670,262 Cost of Sales 429,688 397,972 1,237,197 1,161,479 --------- ------- --------- --------- Gross Profit 594,000 542,611 1,621,013 1,508,783 Amortization 9,785 9,707 38,471 36,903 Royalties, Research and Development 109,217 92,258 304,704 273,039 Discontinued Development Project - - 31,100 - Advertising 155,952 155,800 417,886 397,094 Selling, Distribution and Administration 172,495 150,233 555,280 493,570 Restructuring Charges - - - 12,500 --------- ------- --------- --------- Operating Profit 146,551 134,613 273,572 295,677 Interest Expense 13,449 11,968 37,588 30,789 Other (Income), Net (5,038) (628) (16,566) (26,681) --------- ------- --------- --------- Earnings Before Income Taxes and Cumulative Effect of Change in Accounting Principles 138,140 123,273 252,550 291,569 Income Taxes 52,931 47,460 96,979 112,254 --------- ------- --------- --------- Earnings Before Cumulative Effect of Change in Accounting Principles 85,209 75,813 155,571 179,315 Cumulative Effect of Change in Accounting Principles - - - (4,282) --------- ------- --------- --------- Net Earnings $ 85,209 $ 75,813 $ 155,571 $ 175,033 ========= ======= ========= ========= Per Common Share(2) Earnings Before Cumulative Effect of Change in Accounting Principles $ .97 $ .86 $ 1.76 $ 2.01 ========= ======= ========= ========= Net Earnings $ .97 $ .86 $ 1.76 $ 1.96 ========= ======= ========= ========= Cash Dividends Declared $ .08 $ .07 $ .32 $ .28 ========= ======= ========= ========= Weighted Average Number of Shares 88,141 88,546 88,253 89,331 ========= ======= ========= ========= (1) - 1995 consists of 53 weeks; 1994, 52 weeks. (2) - Primary and fully diluted data are not shown separately as they are substantially the same. HASBRO, INC. CONSOLIDATED CONDENSED BALANCE SHEETS (Thousands of Dollars) Dec. 31, Dec. 25, 1995 1994 ---------- ---------- Assets Cash and Temporary Investments $ 161,030 $ 137,028 Accounts Receivable, Net 791,111 717,890 Inventories 315,620 244,407 Other 157,737 153,138 --------- --------- Total Current Assets 1,425,498 1,252,463 Property, Plant and Equipment, Net 313,240 308,879 Other Assets 877,650 817,033 --------- --------- Total Assets $2,616,388 $2,378,375 ========= ========= Liabilities and Shareholders' Equity Short-term Borrowings $ 119,987 $ 81,805 Payables and Accrued Liablities 749,877 681,927 --------- --------- Total Current Liabilities 869,864 763,732 Long-term Debt 149,991 150,000 Deferred Liabilities 70,921 69,226 --------- --------- Total Liabilities 1,090,776 982,958 Total Shareholders' Equity 1,525,612 1,395,417 --------- --------- Total Liabilities and Shareholders' Equity $2,616,388 $2,378,375 ========= ========= -----END PRIVACY-ENHANCED MESSAGE-----