-----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, AaRu+L/LKE2vWsXG/Tg2/B5dTFgZgWsbcxij0nfgaSkmpQD9nuIZ6A93hkLoTJv/ AFe+ko1O4ts7R5VAzQQ+Rw== 0000046080-95-000012.txt : 19951030 0000046080-95-000012.hdr.sgml : 19951030 ACCESSION NUMBER: 0000046080-95-000012 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19951023 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 19951023 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: 95583267 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): October 23, 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 October 23, 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 October 23, 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: October 23, 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 October 23, 1995 Exhibit Index Exhibit No. Exhibits - - ------- -------- 99 Press Release dated October 23, 1995 EX-99 2 PRESS RELEASE EXHIBIT 99 For Immediate Release Contact: John T. O'Neill October 23, 1995 Telephone: 401-431-8500 HASBRO, INC. ANNOUNCES REVENUES AND EARNINGS FOR THIRD QUARTER 1995 Pawtucket, RI (October 23, 1995) -- Hasbro, Inc. (HAS:ASE) today reported results for its third quarter ended October 1, 1995. Revenues were $826,165,000, compared to the $796,222,000 reported in the third quarter of 1994. Net earnings for the quarter were $63,572,000, or $.72 per share. For the same period of 1994, absent the impact of several unusual items which, in the aggregate, increased pretax earnings by approximately $10,500,000, earnings were $68,515,000, or $.77 per share. Reported 1994 third quarter net earnings were $75,151,000, or $.85 per share. For the year to date, revenues totaled $1,834,522,000 a 6% increase from the $1,729,679,000 of 1994. Earnings for the nine months, absent the impact of a second quarter $31,100,000 pretax charge related to a discontinued development project, were $89,488,000, or $1.01 per share. Net earnings for the year to date were $70,362,000, or $.80 per share. Net earnings for the nine months of 1994 were $99,220,000, or $1.11 per share. "Again this quarter, we are pleased to report that revenues from both our international units and the domestic games group reached record levels", said Alan G. Hassenfeld, Chairman and Chief Executive Officer. "These increased revenues did not, however, translate into earnings growth. This was due to several factors including the impact on our marketing-related costs of a less favorable mix of products sold and the effect of investment spending in several of our newer operations. While we continue to believe that full year revenues will exceed those of a year ago, we now anticipate that full year earnings, absent the second quarter discontinued development charge, will approximate those of a year ago." He continued, "As we enter the very important fourth quarter, we believe that we are well positioned with our core 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), and Tonka(R) items. We also believe that our new product introductions, many of which are just now appearing on retailers' shelves, will be well received during the Christmas buying season." Mr. Hassenfeld concluded, "Looking beyond 1995, we are optimistic about the future. Our innovative and creative 1996 line was previewed by customers earlier this month and received very positive reaction. In addition, we are eagerly working on the first products being developed under the previously announced worldwide alliance with DreamWorks SKG. Through this arrangement we will jointly create, produce and market a line of products, with the first introductions coming to market in early 1997." Hasbro is a worldwide leader in the design, manufacture and marketing of toys, games, puzzles and infant care products. Both internationally and domestically its Playskool, Kenner, Tonka, Milton Bradley and Parker Brothers products provide children and families with the highest quality and most recognizable toys and games in the world. # # # (Tables Attached) HASBRO, INC. CONSOLIDATED STATEMENTS OF EARNINGS (Thousands of Dollars and Shares Except Per Share Data) Quarter Ended Nine Months Ended(1) ---------------- -------------------- Oct 1, Sep 25, Oct 1, Sep 25, 1995 1994 1995 1994 ------- ------- --------- --------- Net Revenues $826,165 $796,222 $1,834,522 $1,729,679 Cost of Sales 360,852 352,129 807,509 763,507 ------- ------- --------- --------- Gross Profit 465,313 444,093 1,027,013 966,172 Amortization 9,718 9,598 28,686 27,196 Royalties, Research and Development 78,318 75,359 195,487 180,781 Discontinued Development Project - - 31,100 - Advertising 123,537 116,307 261,934 241,294 Selling, Distribution and Administration 142,977 123,067 382,785 343,337 Restructuring Charges - 12,500 - 12,500 ------- ------- --------- --------- Operating Profit 110,763 107,262 127,021 161,064 Interest Expense 10,932 8,776 24,139 18,821 Other (Income), Net (3,539) (23,710) (11,528) (26,053) ------- ------- --------- --------- Earnings Before Income Taxes and Cumulative Effect of Change in Accounting Principles 103,370 122,196 114,410 168,296 Income Taxes 39,798 47,045 44,048 64,794 ------- ------- --------- --------- Earnings Before Cumulative Effect of Change in Accounting Principles 63,572 75,151 70,362 103,502 Cumulative Effect of Change in Accounting Principles - - - (4,282) ------- ------- --------- --------- Net Earnings $ 63,572 $ 75,151 $ 70,362 $ 99,220 ======= ======= ========= ========= Per Common Share(2) Earnings Before Cumulative Effect of Change in Accounting Principles $ .72 $ .85 $ .80 $ 1.16 ======= ======= ========= ========= Net Earnings $ .72 $ .85 $ .80 $ 1.11 ======= ======= ========= ========= Cash Dividends Declared $ .08 $ .07 $ .24 $ .21 ======= ======= ========= ========= Weighted Average Number of Shares 88,347 88,841 88,290 89,592 ======= ======= ========= ========= (1) - 1995 consists of 40 weeks; 1994, 39 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) Oct. 1, Sep. 25, 1995 1994 -------- -------- Assets Cash and Temporary Investments $ 53,785 $ 60,044 Accounts Receivable, Net 1,128,119 1,118,622 Inventories 390,095 333,089 Other 158,264 147,167 --------- --------- Total Current Assets 1,730,263 1,658,922 Property, Plant and Equipment, Net 306,464 296,986 Other Assets 880,782 760,406 --------- --------- Total Assets $2,917,509 $2,716,314 ========= ========= Liabilities and Shareholders' Equity Short-term Borrowings $ 566,820 $ 486,252 Payables and Accrued Liablities 673,621 658,520 --------- --------- Total Current Liabilities 1,240,441 1,144,772 Long-term Debt 149,991 150,437 Deferred Liabilities 65,143 73,057 --------- --------- Total Liabilities 1,455,575 1,368,266 Total Shareholders' Equity 1,461,934 1,348,048 --------- --------- Total Liabilities and Shareholders' Equity $2,917,509 $2,716,314 ========= ========= -----END PRIVACY-ENHANCED MESSAGE-----