-----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, HF/s7vHby+2YFEZekHwgzyBftadwkyAyKGRmQa68UlcuxhoUrFAuA+r6tA5UPloX KYGP+rEBBwi3hdAoyFCabw== 0000046080-97-000011.txt : 19971029 0000046080-97-000011.hdr.sgml : 19971029 ACCESSION NUMBER: 0000046080-97-000011 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19971020 ITEM INFORMATION: ITEM INFORMATION: FILED AS OF DATE: 19971020 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: SEC FILE NUMBER: 001-06682 FILM NUMBER: 97697806 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 20, 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 October 20, 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 October 20, 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: October 20, 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 October 20, 1997 Exhibit Index Exhibit No. Exhibits - - ------- -------- 99 Press Release dated October 20, 1997 EX-99 2 EXHIBIT 99 EXHIBIT 99 For Immediate Release Contact: John T. O'Neill October 20, 1997 401-727-5600 Renita E. O'Connell 401-431-8880 HASBRO, INC. ANNOUNCES RECORD THIRD QUARTER RESULTS Pawtucket, RI (October 20, 1997) -- Hasbro, Inc. (HAS:ASE) today reported record third quarter net revenues, earnings and earnings per share. Net revenues increased over 11% in local currencies, partly offset by the $27 million, or 3%, adverse impact of the stronger U.S. dollar. Reported net revenues reached $915.5 million, up 8% from $845.1 million last year. Net earnings increased approximately 10% to $77.4 million from the $70.5 million reported in the third quarter of 1996, while earnings per share increased 11% to $.60 from $.54 in 1996. For the first nine months of 1997, revenues were $2.1 billion, up more than 8% from the $1.9 billion a year ago, while net earnings increased 15% to $116.1 million from $100.8 million. Earnings per share increased 17% to $.89 for the first nine months of 1997 compared to $.76 a year ago. "We are very pleased to report record third quarter revenues and earnings," said Alan G. Hassenfeld, Chairman and Chief Executive Officer. "Our revenue growth was primarily driven by the United States operations, including our growing interactive CD-ROM business, the recently acquired OddzOn Products and Cap Toys units and products associated with our three major entertainment properties, Star Wars(R), Jurassic Park(TM) and Batman(TM). Internationally, growth continued to be led by Canada, Mexico and Latin America but was moderated by the stronger U.S. dollar." Mr. Hassenfeld continued, "Our earnings growth this quarter followed the revenue pattern, with most of it attributable to the North American operations. Continuing our share repurchase program, during the quarter we invested an additional $36 million to purchase approximately 1.3 million of our shares, bringing the 1997 nine-month investment to $100 million for 3.6 million Hasbro shares." He concluded, "As we enter the increasingly important fourth quarter, we look forward to introducing many exciting new products including Star Wars Monopoly(R) on CD-ROM. We are also pleased with the positive reaction of our key customers who previewed our 1998 line. Finally, on October 14 we were awarded an extension and expansion of our exclusive rights to market certain toys and games based on three new Star Wars movies. This is especially pleasing as it gives us the opportunity to further develop the Star Wars brand as an important part of our diversified brand portfolio well into the next millennium. Indeed, the Force is with us." # # # (Tables Attached) HASBRO, INC. CONSOLIDATED STATEMENTS OF EARNINGS (Thousands of Dollars and Shares Except Per Share Data) Quarter Ended Six Months Ended ------------------ -------------------- Sep. 28, Sep. 29, Sep. 28, Sep. 29, 1997 1996 1997 1996 -------- -------- --------- --------- Net Revenues $915,533 845,148 $2,055,203 1,895,442 Cost of Sales 403,027 372,273 891,315 844,228 ------- ------- --------- --------- Gross Profit 512,506 472,875 1,163,888 1,051,214 Amortization 11,741 9,939 32,967 29,745 Royalties, Research and Development 102,583 85,929 254,339 204,707 Advertising 116,208 116,446 254,418 252,893 Selling, Distribution and Administration 156,215 146,941 433,285 397,215 ------- ------- --------- --------- Operating Profit 125,759 113,620 188,879 166,654 Interest Expense 9,197 9,419 19,120 19,678 Other (Income) Expense, Net 1,121 (733) (6,112) (6,210) ------- ------- --------- --------- Earnings Before Income Taxes 115,441 104,934 175,871 153,186 Income Taxes 38,041 34,465 59,796 52,366 ------- ------- --------- --------- Net Earnings $ 77,400 70,469 $ 116,075 100,820 ======= ======= ========= ========= Per Common Share (1)(2) Net Earnings $ .60 .54 $ .89 .76 ======= ======= ========= ========= Cash Dividends Declared $ .08 .07 $ .24 .21 ======= ======= ========= ========= Weighted Average Number of Shares Outstanding (1)(2) 129,487 131,119 130,179 131,953 ======= ======= ========= ========= (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) Sep. 28, Sep. 29, 1997 1996 --------- --------- Assets Cash and Temporary Investments $ 80,030 $ 57,753 Accounts Receivable, Net 1,153,910 1,184,615 Inventories 347,779 402,704 Other 175,534 155,941 --------- --------- Total Current Assets 1,757,253 1,801,013 Property, Plant and Equipment, Net 279,916 301,453 Other Assets 986,782 897,009 --------- --------- Total Assets $3,023,951 $2,999,475 ========= ========= Liabilities and Shareholders' Equity Short-term Borrowings $ 462,894 $ 553,136 Payables and Accrued Liabilities 708,278 654,947 --------- --------- Total Current Liabilities 1,171,172 1,208,083 Long-term Debt 148,751 149,907 Deferred Liabilities 68,924 70,556 --------- --------- Total Liabilities 1,388,847 1,428,546 Total Shareholders' Equity 1,635,104 1,570,929 --------- --------- Total Liabilities and Shareholders' Equity $3,023,951 $2,999,475 ========= ========= -----END PRIVACY-ENHANCED MESSAGE-----