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Hasbro net revenues increased 5% to $4.28 billion

Staff writer |
Hasbro reported financial results for the full year and fourth quarter 2014. Net revenues for the full-year 2014 increased 5% to $4.28 billion compared to $4.08 billion in 2013. Excluding a negative $93.4 million impact from foreign exchange, 2014 revenues increased 7%.

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As reported net earnings for the full-year 2014 were $415.9 million, or $3.20 per diluted share, compared to $286.2 million, or $2.17 per diluted share, in 2013. Adjusted net earnings for the full-year 2014 were $408.7 million, or $3.15 per diluted share.

Adjusted net earnings exclude pre-tax charges of $28.3 million associated with restructuring of the Company’s joint venture television network and $5.2 million associated with other restructuring activities which were more than offset by a pre-tax benefit of $36.0 million from the sale of licensed rights for intellectual property and $6.6 million in favorable tax adjustments related to tax exam settlements.

Net earnings for the full-year 2013 include pre-tax charges of $36.7 million associated with restructuring, $7.0 million of related pension costs, $61.1 million associated with the settlement of an adverse arbitration award, $40.6 million of charges related to certain non-strategic brands as well as a $23.6 million favorable tax adjustment.

Excluding these items, 2013 adjusted net earnings were $372.4 million, or $2.83 per diluted share.


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