-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: keymaster@town.hall.org Originator-Key-Asymmetric: MFkwCgYEVQgBAQICAgADSwAwSAJBALeWW4xDV4i7+b6+UyPn5RtObb1cJ7VkACDq pKb9/DClgTKIm08lCfoilvi9Wl4SODbR1+1waHhiGmeZO8OdgLUCAwEAAQ== MIC-Info: RSA-MD5,RSA, aLDE/Imz+fPDSw2KLBIt6osDJ8kHNB6638XWqcQ+mfu6uKNLmsgzIfEzvBS7tX2k rg3LL/m51w1ufTdmtzDtQQ== 0000046080-94-000004.txt : 19940214 0000046080-94-000004.hdr.sgml : 19940214 ACCESSION NUMBER: 0000046080-94-000004 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19940210 ITEM INFORMATION: 5 FILED AS OF DATE: 19940210 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: 34 SEC FILE NUMBER: 001-06682 FILM NUMBER: 94505822 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 DATED FEBRUARY 10, 1994 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 10, 1994 ------------------------- 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 10, 1994 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 10, 1994, 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 10, 1994 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 10, 1994 Exhibit Index Exhibit No. Exhibits - ------- -------- 99 Press Release dated February 10, 1994 EX-99 2 PRESS RELEASE DATED FEBRUARY 10, 1994 - EXHIBIT 99 EXHIBIT 99 For Immediate Release Contact: John T. O'Neill February 10, 1994 Telephone: 401-431-8500 HASBRO, INC. ANNOUNCES RECORD RESULTS FOR FOURTH QUARTER AND FULL YEAR 1993 Pawtucket, RI (February 10, 1994) -- Hasbro, Inc. (HAS:ASE) today reported its results for the fourth quarter and full year ended December 26, 1993. For the sixth consecutive year, the Company reported record fourth quarter levels of both net revenues and earnings. Net revenues were $932,196,000, an increase of more than 12% from the $831,336,000 of the corresponding quarter a year earlier. Net earnings, at $70,726,000, increased 8% from last year's fourth quarter record of $65,638,000. Absent the effect of the previously announced $15,500,000 pretax fourth quarter restructuring charge, net earnings increased more than 22% from those of a year ago. Earnings per share for the quarter, after the restructuring charge, increased to $.78 from $.73 in the same period a year ago. The weighted average number of shares for the quarter was 90,314,000 up from 89,671,000 in 1992. Net revenues and earnings for the year also reached record levels. Net revenues were $2.747 billion, up 8% from the $2.541 billion reported in 1992. For the year, net earnings were $200,004,000, or $2.22 per share. Absent the effect of the restructuring charge, full year net earnings approximated $210,000,000 or $2.33 per share, an increase of more than 15% from the $179,164,000, or $2.01 per share reported a year ago. The weighted average number of shares for 1993 was 90,031,000 compared to 89,086,000 in 1992. Both periods also were adversely impacted by the strengthened U.S. dollar. In constant dollars, revenues for the quarter and year would have increased approximately $140,000,000, or 17% and $313,000,000, or 12%, respectively, over comparable 1992 amounts. Alan G. Hassenfeld, Chairman and Chief Executive Officer, commenting on the results stated that "it sounds repetitious, but again a very strong fourth quarter has brought us to the end of another terrific year during which Hasbro remained in top form." "During the fourth quarter, the trends experienced during the first nine months continued to be evident. Domestically, we enjoyed another very successful quarter. Our promoted brands group was again led by Kenner, in part due to the continued enthusiasm for its Littlest Pet Shop(R) and Jurassic Park(TM) items, while Hasbro Toy, after a difficult period during the year, began to see an up-turn in several of its products, including Tonka's Talk 'N Play Fire Truck(TM) and The Real Power Tool Shop(TM). The infant and preschool units also performed better than expected. Playskool was buoyed by the success of Talking Barney(R) and many of their traditional products including Play-Doh(R) and Tinkertoy(R), while the Kid Dimension line was very well accepted by both retailers and consumers during its initial year. In the games area, Milton Bradley and Parker Brothers continued to grow, with strength shown in many of their newer items, including Don't Wake Daddy(R), Ask Zandar(TM) and Jenga(R), and in the classics such as Monopoly(R), Scrabble(R) and The Game of Life(R). Internationally, fourth quarter revenues also increased from those of a year ago. Strong performances by our Canadian, Mexican, U.K. and German units helped to offset the negative effects of the strengthened U.S. dollar and the generally weak worldwide economic conditions." Mr. Hassenfeld concluded, "we believe that the momentum which we have built during the second half of 1993, our strong line of continuing products, the new products being introduced at the American International Toy Fair next week and an improving international retail environment should provide us a solid base on which to build a successful 1994." ### (Tables Attached) HASBRO, INC. CONSOLIDATED STATEMENTS OF EARNINGS (Thousands of Dollars and Shares Except Per Share Data) Quarter Ended Year Ended -------------------- --------------------- Dec. 26, Dec. 27, Dec. 26, Dec. 27, 1993 1992 1993 1992 -------- -------- -------- -------- Net Revenues $ 932,196 831,336 2,747,176 2,541,055 Cost of Sales 401,962 354,839 1,182,567 1,094,031 -------- -------- --------- --------- Gross Profit 530,234 476,497 1,564,609 1,447,024 Amortization 9,193 8,268 35,366 33,528 Royalties, Research and Development 95,297 89,450 280,571 249,851 Advertising 136,438 130,304 383,918 377,219 Selling, Distribution and Administrative 148,336 135,798 498,066 461,888 Restructuring 15,500 - 15,500 - -------- -------- --------- --------- Operating Profit 125,470 112,677 351,188 324,538 Interest Expense 10,155 8,567 29,814 35,891 Other (Income) Expense, Net (368) (759) (3,836) (3,729) -------- -------- --------- --------- Earnings Before Income Taxes 115,683 104,869 325,210 292,376 Income Taxes 44,957 39,231 125,206 113,212 -------- -------- --------- --------- Net Earnings $ 70,726 65,638 200,004 179,164 ======== ======== ========= ========= Per Common Share Net Earnings(1) $ .78 .73 2.22 2.01 ======== ======== ========= ========= Cash Dividends Declared $ .06 .05 .24 .20 ======== ======== ========= ========= Weighted Average Number of Shares(1) 90,314 89,671 90,031 89,086 ======== ======== ========= ========= (1) 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. 26, Dec. 27, 1993 1992 -------- -------- Assets Cash and Temporary Investments $ 186,254 125,953 Accounts Receivable, Net 720,442 638,282 Inventories 250,067 217,918 Other 144,372 134,776 --------- --------- Total Current Assets 1,301,135 1,116,929 Property, Plant and Equipment, Net 279,803 251,340 Other Assets 712,080 714,497 --------- --------- Total Assets $2,293,018 2,082,766 ========= ========= Liabilities and Shareholders' Equity Short-term Borrowings $ 62,242 64,174 Payables and Accrued Liablities 686,072 637,169 --------- --------- Total Current Liabilities 748,314 701,343 Long-term Debt 200,510 206,189 Deferred Liabilities 67,511 69,613 --------- --------- Total Liabilities 1,016,335 977,145 Total Shareholders' Equity 1,276,683 1,105,621 --------- --------- Total Liabilities and Shareholders' Equity $2,293,018 2,082,766 ========= ========= -----END PRIVACY-ENHANCED MESSAGE-----