The impact of the Transformers and G.I. Joe films helped Hasbro increase its profits in Q3 on nearly flat sales, according to financial information released on Monday.   The games and puzzles category was down 10% in Q3.

Sales were $1.28 billion for the quarter, down from $1.30 billion in the year ago period; earnings were $150.4 million, up from $138.2 million in Q3 2008. 

The movie impact was primarily felt in the boys (toys) and entertainment and licensing categories (royalties, especially from videogames), both of which experienced significant growth.  The company expects total revenue of $100 million from G.I. Joe this year.  Officers declined to break out revenues from Transformers for 2009 during the conference call, but did note that in 2007, the last movie year, Transformers revenues were $484 million. 

Girls toys were down.

The decline in games and puzzles was primarily due to reductions in inventory at retail, according to the company, but the company expects that trend to reverse in Q4, with stronger sales and Hasbro Family Game Night promotions helping to bring game numbers up.  Hasbro subsidiary Wizards of the Coast was not mentioned in the company’s report or conference call.