Hasbro reported sales of $2.8 billion for 2002 and a loss of $171 million, compared to sales of $2.9 billion and a profit of $60 million in 2002. But these results mask some good news for Hasbro, including net earnings of $107 million excluding non-recurring items (primarily good will impairment) vs. 2001 net earnings of $72 million calculated similarly, and sales increases in toys for the year and in games for Q4. Fourth quarter sales over-all were up, $997 million vs. $989 million last year.
Toy segment revenues were $997 million for the year and $289 million in Q4, up 7% and 2%, respectively, vs. the year ago numbers. Operating profit in the segment was $76 million, up from $16 million last year. G. I. Joe, Transformers, and Beyblades were among the lines credited for the improvement.
Game segment revenues were $750 million for the year and $269 million in Q4, down 8% and 6%, respectively, vs. 2001 numbers. The decrease was attributed to the decline in licensed trading card games (Pokemon) and electronic games. Operating profit in games was $125 million vs. $156 million last year.
International revenue and profits were down vs. last year, for the same reasons as the game segment. Transformers and Magic: The Gathering sales were credited as bright spots outside of the U.S..