-----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, LwS9jdMeEPbqzJIqgrB+sTPRUFmYF1jUVhFytcOVMiXXsJbmbZA4RGFYf5+O4I9z vIXcpdz3v7DULf3DmWjOeQ== 0000046080-97-000008.txt : 19970723 0000046080-97-000008.hdr.sgml : 19970723 ACCESSION NUMBER: 0000046080-97-000008 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19970717 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 19970717 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: 97641896 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): July 17, 1997 ------------------------- 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 July 17, 1997 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 July 17, 1997, 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: July 17, 1997 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 July 17, 1997 Exhibit Index Exhibit No. Exhibits - - ------- -------- 99 Press Release dated July 17, 1997 EX-99 2 EXHIBIT 99 EXHIBIT 99 For Immediate Release Contact: John T. O'Neill July 17, 1997 Telephone: 401-727-5600 HASBRO, INC. ANNOUNCES IMPROVED RESULTS FOR SECOND QUARTER 1997 Pawtucket, RI (July 17, 1997) -- Hasbro, Inc. (HAS:ASE) today reported that its second quarter net earnings more than doubled. Fueled by net revenues of $583.9 million, up 14% from $511.6 million in the second quarter of 1996, net earnings increased to $13.0 million from the $6.0 million reported a year ago, while earnings per share doubled to $.10, from $.05 in 1996. "We are very pleased with our ongoing performance. Again this quarter we have experienced significant growth in both revenues and earnings," said Alan G. Hassenfeld, Chairman and Chief Executive Officer. "Revenue growth continued to be primarily driven by the strength of our range of boys' products, including those associated with three of our major entertainment properties, Star Wars(R), Jurassic Park(TM) and Batman(TM). Also contributing to revenue growth in the United States markets was our May acquisition of the assets of OddzOn Products and Cap Toys, which brought with it such well known products as Koosh(R) balls, Vortex(TM) sport toys and Cap's line of interactive candy. Internationally, we experienced significant local currency growth in Canada, Mexico and Latin America, where we have three newly established joint ventures, as well as more moderate growth in several other countries. Again, the negative effect of the strengthened dollar, which this quarter amounted to approximately $10 million, reduced the impact of these gains. Also contributing to our revenue growth was the Hasbro Interactive worldwide line of CD-ROM games which continued to exceed expectations." Mr. Hassenfeld continued, "Our significant earnings growth this quarter was wholly attributable to our pre-acquisition businesses since, as planned, the OddzOn/Cap units were not accretive. Also, as part of our ongoing share repurchase program, we invested $31 million during the quarter to purchase approximately 1.2 million of our shares." He concluded, "As we look forward to the balance of the year, we remain optimistic that our broad range of products will again be the choice of consumers throughout the world." # # # (Tables Attached) HASBRO, INC. CONSOLIDATED STATEMENTS OF EARNINGS (Thousands of Dollars and Shares Except Per Share Data) Quarter Ended Six Months Ended ------------------ -------------------- Jun. 29, Jun. 30, Jun. 29, Jun. 30, 1997 1996 1997 1996 -------- -------- --------- --------- Net Revenues $583,886 511,609 $1,139,670 1,050,294 Cost of Sales 252,917 234,184 488,288 471,955 ------- ------- --------- --------- Gross Profit 330,969 277,425 651,382 578,339 Amortization 11,194 10,007 21,226 19,806 Royalties, Research and Development 87,864 64,356 151,756 118,778 Advertising 66,908 66,171 138,210 136,447 Selling, Distribution and Administration 142,289 124,909 277,070 250,274 ------- ------- --------- --------- Operating Profit 22,714 11,982 63,120 53,034 Interest Expense 5,493 5,353 9,923 10,259 Other (Income), Net (3,062) (2,514) (7,233) (5,477) ------- ------- --------- --------- Earnings Before Income Taxes 20,283 9,143 60,430 48,252 Income Taxes 7,302 3,157 21,755 17,901 ------- ------- --------- --------- Net Earnings $ 12,981 5,986 $ 38,675 30,351 ======= ======= ========= ========= Per Common Share (1)(2) Net Earnings $ .10 .05 $ .30 .23 ======= ======= ========= ========= Cash Dividends Declared $ .08 .07 $ .16 .14 ======= ======= ========= ========= Weighted Average Number of Shares Outstanding (1)(2) 129,976 132,580 130,525 132,371 ======= ======= ========= ========= (1) - Primary and fully diluted data are not shown separately as they are substantially the same. (2) - Adjusted to reflect the three-for-two stock split paid March 21, 1997. HASBRO, INC. CONSOLIDATED CONDENSED BALANCE SHEETS (Thousands of Dollars) Jun. 29, Jun. 30, 1997 1996 --------- --------- Assets Cash and Temporary Investments $ 82,510 $ 69,998 Accounts Receivable, Net 714,212 683,906 Inventories 368,221 398,099 Other 188,913 160,836 --------- --------- Total Current Assets 1,353,856 1,312,839 Property, Plant and Equipment, Net 296,139 305,772 Other Assets 996,800 908,903 --------- --------- Total Assets $2,646,795 $2,527,514 ========= ========= Liabilities and Shareholders' Equity Short-term Borrowings $ 314,288 $ 288,872 Payables and Accrued Liablities 517,230 480,272 --------- --------- Total Current Liabilities 831,518 769,144 Long-term Debt 149,040 149,920 Deferred Liabilities 67,206 72,066 --------- --------- Total Liabilities 1,047,764 991,130 Total Shareholders' Equity 1,599,031 1,536,384 --------- --------- Total Liabilities and Shareholders' Equity $2,646,795 $2,527,514 ========= ========= -----END PRIVACY-ENHANCED MESSAGE-----