-----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, Qbeptmdm/YI62AskSfUgFQDCSBEYniA9ffUo2uwPFeKaSrsVPOA5mRcuuTve520W byh8wk9kXjDt7KsgfJlmLA== 0000046080-95-000006.txt : 19950428 0000046080-95-000006.hdr.sgml : 19950428 ACCESSION NUMBER: 0000046080-95-000006 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19950402 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 19950420 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: 95529856 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): April 20, 1995 ------------------------- 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 April 20, 1995 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 April 20, 1995, 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: April 20, 1995 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 April 20, 1995 Exhibit Index Exhibit No. Exhibits - - ------- -------- 99 Press Release dated April 20, 1995 EX-99 2 PRESS RELEASE EXHIBIT 99 For Immediate Release Contact: John T. O'Neill April 20, 1995 Telephone: 401-431-8500 HASBRO, INC. ANNOUNCES RESULTS FOR FIRST QUARTER 1995 Pawtucket, RI (April 20, 1995) -- Hasbro, Inc. (HAS:ASE) today reported results for its first quarter ended April 2, 1995. Revenues increased approximately 8% to $526,503,000 from the $489,133,000 reported in the first quarter of 1994. Net earnings for the quarter were $21,683,000 compared with $22,435,000 in 1994. Earnings per share were $.25 in both years. 1994 earnings before cumulative effect of change in accounting principles were $26,717,000, or $.30 per share. "We are pleased to report that revenues from our international marketing units reached record first quarter levels," said Alan G. Hassenfeld, Chairman and Chief Executive Officer, "as did those from the Hasbro Games Group." "Almost all of the European markets reported increased revenues in their local currencies which were then augmented by the impact of the weakened U.S. dollar. Our Asia/Pacific units, as a group, also experienced significant improvement over 1994 levels, up approximately 10% in constant dollars. Canada, Mexico and Latin America, as a group, overcame the negative impact of foreign currency rate changes and also reported growth. Domestically, the Hasbro Games Group showed impressive revenue increases, up more than 15% from their 1994 level, and as expected, the Hasbro Toy Group lagged 1994 amounts." He continued, "Our core classic brands, including games and puzzles from Milton Bradley and Parker Brothers, Batman(R) action figures and accessories, Sindy(R), our internationally marketed fashion doll, and the Nerf(R) items continue to be favorites in the marketplace, while several new items, including Fantastic Sand Surprises(TM) and Playskool's Moon Bouncer(TM) and 1-2-3 Baseball(TM) are off to a good start." Mr. Hassenfeld concluded by noting "Even though our revenues were strong, we were not able to translate this into earnings growth in the first quarter. The increased contributions from the international and games units were not sufficient to offset an unfavorable shift in the mix of products sold by the Hasbro Toy Group during the quarter. Later in the year, as products introduced at the February Toy Fair become available, their product mix should improve. We continue to believe that our strong and diverse portfolio of products will allow us to grow, both in earnings and revenues." # # # (Tables Attached) HASBRO, INC. CONSOLIDATED STATEMENTS OF EARNINGS (Thousands of Dollars and Shares Except Per Share Data) Quarter Ended(1) -------------------- Apr. 2, Mar. 27, 1995 1994 -------- -------- Net Revenues $526,503 489,133 Cost of Sales 232,572 208,200 ------- ------- Gross Profit 293,931 280,933 Amortization 9,243 8,793 Royalties, Research and Development 55,084 50,320 Advertising 70,233 64,559 Selling, Distribution and Administration 120,803 110,290 ------- ------- Operating Profit 38,568 46,971 Interest Expense 5,823 5,436 Other (Income), Net (2,512) (1,908) ------- ------- Earnings Before Income Taxes and Cumulative Effect of Change in Accounting Principles 35,257 43,443 Income Taxes 13,574 16,726 ------- ------- Earnings Before Cumulative Effect of Change in Accounting Principles 21,683 26,717 Cumulative Effect of Change in Accounting Principles - (4,282) ------- ------- Net Earnings $ 21,683 22,435 ======= ======= Per Common Share(2) Earnings Before Cumulative Effect of Change in Accounting Principles $ .25 .30 ======= ======= Net Earnings $ .25 .25 ======= ======= Cash Dividends Declared $ .08 .07 ======= ======= Weighted Average Number of Shares 88,153 90,100 ======= ======= (1) - 1995 consists of 14 weeks; 1994, 13 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) Apr. 2, Mar. 27, 1995 1994 -------- -------- Assets Cash and Temporary Investments $ 189,777 250,262 Accounts Receivable, Net 475,813 449,981 Inventories 276,938 271,319 Other 170,323 150,504 --------- --------- Total Current Assets 1,112,851 1,122,066 Property, Plant and Equipment, Net 308,469 282,978 Other Assets 908,443 708,306 --------- --------- Total Assets $2,329,763 2,113,350 ========= ========= Liabilities and Shareholders' Equity Short-term Borrowings $ 162,736 53,091 Payables and Accrued Liablities 531,216 491,743 --------- --------- Total Current Liabilities 693,952 544,834 Long-term Debt 150,000 200,479 Deferred Liabilities 65,809 73,171 --------- --------- Total Liabilities 909,761 818,484 Total Shareholders' Equity 1,420,002 1,294,866 --------- --------- Total Liabilities and Shareholders' Equity $2,329,763 2,113,350 ========= ========= -----END PRIVACY-ENHANCED MESSAGE-----