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Feb 9 (Reuters) - Hasbro Inc reported lower-than-expected holiday quarter revenue, hurt by a strong dollar and a decline in sales in its games and girls toys businesses.
The second-largest U.S. toymaker, which gets half of its revenue from international markets, said a strong dollar reduced fourth-quarter revenue by $75.4 million.
Total revenue rose 1.3 percent to $1.30 billion. If not for the stronger dollar, revenue would have increased 7 percent, Hasbro said.
The dollar has surged about 20 percent against a basket of major currencies since May.
Sales of toys for boys, Hasbro’s largest business, rose about 21 percent to $421.9 million in the quarter ended Dec. 28, helped by demand for toys based on Transformers movies and Marvel comics characters.
Sales in the games division, which makes Monopoly and The Game of Life board games, fell 4.4 percent to $418.3 million, while sales in the girls division fell 10.4 percent to $312.4 million.
Hasbro’s results were comparatively stronger than those of larger rival Mattel Inc, which last month posted its fifth straight fall in worldwide quarterly sales.
Hasbro’s girls toys, which include My Little Pony and “Hunger Games”-inspired Nerf Rebelle bow and arrow toys, helped the company outpace Mattel in the previous few quarters.
Reuters reported last week that Hasbro paid $65 million to Mexican tax authorities in a settlement following a probe into the company for possible for tax avoidance.
The deal resolved outstanding tax assessments for all open years from 2000 to 2013, a spokeswoman said.
The company made no mention of the settlement in its earnings release on Monday.
Hasbro raised its quarterly dividend to 46 cents per share from 43 and authorized a new $500 million in share repurchase program. The company bought 8.5 million shares for $460.7 million in 2014.
Net income attributable to Hasbro rose about 31 percent to $169.9 million, or $1.34 per share, in fourth quarter.
Excluding items, Hasbro earned $1.22 per share.
The fourth quarter of 2013 included a pre-tax charge of $48.8 million related to restructuring, pension costs and product-related charges.
Analysts on average had expected a profit of $1.21 per share on revenue of $1.33 billion, according to Thomson Reuters I/B/E/S.
Hasbro shares were up 1.5 percent at $56.60 in light trading before the opening bell. (Reporting by Shailaja Sharma in Bengaluru; Editing by Sriraj Kalluvila)