-----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, LxwCwu7PoIPHKsTFQuNZGl3jzJb7VlQOszKK59IKQYa3t5ci5ZJMmgA55jBg766/ JSX1Y/aYwXHV4RbX5nDNyw== 0000046080-97-000005.txt : 19970512 0000046080-97-000005.hdr.sgml : 19970512 ACCESSION NUMBER: 0000046080-97-000005 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19970421 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 19970421 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: 97584116 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 21, 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 April 21, 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 April 21, 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: April 21, 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 April 21, 1997 Exhibit Index Exhibit No. Exhibits - - ------- -------- 99 Press Release dated April 21, 1997 EX-99 2 EXHIBIT 99 EXHIBIT 99 For Immediate Release Contact: John T. O'Neill April 21, 1997 Telephone: 401-727-5600 HASBRO, INC. ANNOUNCES IMPROVED RESULTS FOR FIRST QUARTER 1997 Pawtucket, RI (April 21, 1997) -- Hasbro, Inc. (HAS:ASE) today reported first quarter net earnings of $25.7 million, up from the $24.4 million reported a year ago. Earnings per share rose 11% to $.20, compared with $.18 in 1996. Revenues also grew, increasing to $555.8 million from the $538.7 million reported last year. "We are pleased to again report both earnings and revenue growth despite the negative impact of currency and the strengthened U.S. dollar," said Alan G. Hassenfeld, Chairman and Chief Executive Officer. "Our revenue growth this quarter was driven primarily by the theatrical re-release of the Star Wars Trilogy. The power of the Force was evident as our Star Wars(R) related products, especially action figures, were clear winners with consumers young and old. Also contributing to our increased volume in the United States were the Super Soaker(TM) line of water toys and Hasbro Interactive, with their expanded range of CD-ROM classic games. Internationally, we experienced mixed results. Canada, Mexico, Latin America and Australia all had growth, both in local currency and U.S. dollars, while Europe achieved modest local currency gains, but these were more than offset by the approximate $8 million impact of the strengthened dollar." He continued by noting, "Our earnings also increased this quarter and were in line with our expectations. This growth came despite the adverse impact of both currency rates and the previously announced closure of a manufacturing facility in the U.K." Mr. Hassenfeld concluded, "We are encouraged by our first quarter and look forward to the balance of the year. We anticipate completing our acquisition of the assets of Cap Toys and OddzOn Products during the second quarter which will bring products, including Koosh(R) balls, Vortex(R) sport toys, Melanie's Mall(TM) and the Cap line of interactive candy, to the Hasbro family. Some of our other new products debuting in the next several months include boys' items associated with the eagerly anticipated movie premieres of both Batman(TM) and Robin(TM), and Jurassic Park(TM), The Lost World; girls' products, including several based on the television program Sabrina The Teenage Witch(TM); games, such as Chicken Croquet(TM) and Planet Hollywood(TM); and several interactive CD-ROM games." # # # (Tables Attached) HASBRO, INC. CONSOLIDATED STATEMENTS OF EARNINGS (Thousands of Dollars and Shares Except Per Share Data) Quarter Ended -------------------- Mar. 30, Mar. 31, 1997 1996 -------- -------- Net Revenues $555,784 538,685 Cost of Sales 235,371 237,771 ------- ------- Gross Profit 320,413 300,914 Amortization 10,032 9,799 Royalties, Research and Development 63,892 54,422 Advertising 71,302 70,276 Selling, Distribution and Administration 134,781 125,365 ------- ------- Operating Profit 40,406 41,052 Interest Expense 4,430 4,906 Other (Income), Net (4,171) (2,963) ------- ------- Earnings Before Income Taxes 40,147 39,109 Income Taxes 14,453 14,744 ------- ------- Net Earnings $ 25,694 24,365 ======= ======= Per Common Share(1)(2) Net Earnings $ .20 .18 ======= ======= Cash Dividends Declared $ .08 .07 ======= ======= Weighted Average Number of Shares(1)(2) 131,074 132,161 ======= ======= (1) - Adjusted to reflect three-for-two stock split paid on March 21, 1997. (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) Mar. 30, Mar. 31, 1997 1996 -------- -------- Assets Cash and Temporary Investments $ 289,546 136,860 Accounts Receivable, Net 517,022 528,632 Inventories 268,945 335,067 Other 180,395 175,961 --------- --------- Total Current Assets 1,255,908 1,176,520 Property, Plant and Equipment, Net 299,626 307,217 Other Assets 894,354 920,123 --------- --------- Total Assets $2,449,888 2,403,860 ========= ========= Liabilities and Shareholders' Equity Short-term Borrowings $ 69,543 93,402 Payables and Accrued Liablities 528,308 534,478 --------- --------- Total Current Liabilities 597,851 627,880 Long-term Debt 149,208 149,987 Deferred Liabilities 68,937 72,409 --------- --------- Total Liabilities 815,996 850,276 Total Shareholders' Equity 1,633,892 1,553,584 --------- --------- Total Liabilities and Shareholders' Equity $2,449,888 2,403,860 ========= ========= -----END PRIVACY-ENHANCED MESSAGE-----