Company Introduces 2012 Guidance
PAWTUCKET, R.I.--(BUSINESS WIRE)--
At its 2011 Investor Day, Hasbro,
Inc. (NASDAQ: HAS) outlined the Company's strategic direction,
underscoring how Hasbro's branded play company strategy is creating
long-term shareholder value. The meeting included presentations from
Brian Goldner, Hasbro's President & CEO, Deb Thomas, CFO, David
Hargreaves, COO and other members of Hasbro's senior management team.
"We are delighted to share our updated strategic plan with our fellow
shareholders and provide a preview for the coming years at today's
Investor Day," said Brian Goldner, Hasbro's President and CEO. "As we
look to 2012, we believe we are well positioned to leverage our ongoing
investments in future growth areas including emerging markets and
entertainment, while capitalizing on innovation in our core brands as
well as global entertainment initiatives in television and motion
pictures."
During today's meeting, the Company established guidance for 2012,
stating that it believes it should be able to grow revenues and earnings
per share for the full-year 2012 versus 2011.
Hasbro's Investor Day was held at its Pawtucket, RI headquarters. The
meeting was webcast live on the company's website at http://investor.hasbro.com,
where a replay of the event is also available.
About Hasbro
Hasbro,
Inc. (NASDAQ: HAS) is a branded play company providing children and
families around the world with a wide-range of immersive entertainment
offerings based on the Company's world class brand portfolio. From toys
and games, to television programming, motion pictures, video games and a
comprehensive licensing program, Hasbro strives to delight its customers
through the strategic leveraging of well-known and beloved brands such
as TRANSFORMERS, LITTLEST PET SHOP, NERF, PLAYSKOOL, MY LITTLE PONY,
G.I. JOE, MAGIC: THE GATHERING and MONOPOLY. The HUB, Hasbro's
multi-platform joint venture with Discovery Communications (NASDAQ:
DISCA, DISCB, DISCK) launched on October 10, 2010. The online home of
The HUB is www.hubworld.com.
The HUB logo and name are trademarks of Hub Television Networks, LLC.
All rights reserved. © 2011 Hasbro, Inc. All Rights Reserved.
HAS-IR
Certain statements in this release contain "forward-looking statements"
within the meaning of the Private Securities Litigation Reform Act of
1995. These statements include expectations concerning the Company's
potential performance in 2012 and beyond, including with respect to its
revenues and earnings per share, and the Company's ability to achieve
its other financial and business goals and may be identified by the use
of forward-looking words or phrases. The Company's actual actions or
results may differ materially from those expected or anticipated in the
forward-looking statements due to both known and unknown risks and
uncertainties. Specific factors that might cause such a difference
include, but are not limited to: (i) the Company's ability to design,
manufacture, source and ship new and continuing products on a timely and
cost-effective basis, as well as interest in and purchase of those
products by retail customers and consumers in quantities and at prices
that will be sufficient to profitably recover the Company's development,
manufacturing, marketing, royalty and other costs; (ii) global economic
conditions, including recessions, credit crises or other economic shocks
or downturns which can negatively impact the retail and/or credit
markets, the financial health of the Company's retail customers and
consumers, and consumer and business confidence, and which can result in
lower employment levels, less consumer disposable income, and lower
consumer spending, including lower spending on purchases of the
Company's products; (iii) other factors which can lower discretionary
consumer spending, such as higher costs for fuel and food, drops in the
value of homes or other consumer assets, and high levels of consumer
debt; (iv) other economic and public health conditions in the markets in
which the Company and its customers and suppliers operate which impact
the Company's ability and cost to manufacture and deliver products, such
as higher fuel and other commodity prices, higher labor costs, higher
transportation costs, outbreaks of disease which affect public health
and the movement of people and goods, and other factors, including
government regulations, which can create potential manufacturing and
transportation delays or impact costs; (v) currency fluctuations,
including movements in foreign exchange rates, which can lower the
Company's net revenues and earnings, and significantly impact the
Company's costs; (vi) the concentration of the Company's customers,
potentially increasing the negative impact to the Company of
difficulties experienced by any of the Company's customers or changes by
the Company's customers in their purchasing or selling patterns; (vii)
greater than expected costs, or unexpected delays or difficulties,
associated with the Company's investment in its joint venture with
Discovery Communications, LLC, the rebranding of the joint venture
network, development of Hasbro Studios, and the creation of new content
to appear on the network and elsewhere; (viii) consumer interest in and
acceptance of the joint venture network, and programming created by
Hasbro Studios, and other factors impacting the financial performance of
the joint venture and Hasbro Studios; (ix) greater than expected costs
or unexpected delays associated with the creation of the Center of
Excellence for Hasbro Games; (x) the inventory policies of the Company's
retail customers, including retailers' potential decisions to lower the
inventories they are willing to carry, even if it results in lost sales,
as well as the concentration of the Company's revenues in the second
half and fourth quarter of the year, which coupled with reliance by
retailers on quick response inventory management techniques increases
the risk of underproduction of popular items, overproduction of less
popular items and failure to achieve tight and compressed shipping
schedules; (xi) work stoppages, slowdowns or strikes, which may impact
the Company's ability to manufacture or deliver product in a timely and
cost-effective manner; (xii) the bankruptcy or other lack of success of
one of the Company's significant retailers which could negatively impact
the Company's revenues or bad debt exposure; (xiii) the impact of
competition on revenues, margins and other aspects of the Company's
business, including the ability to secure, maintain and renew popular
licenses and the ability to attract and retain talented employees in a
competitive environment; (xiv) concentration of manufacturing for many
of the Company's products in the People's Republic of China and the
associated impact to the Company of public health conditions and other
factors affecting social and economic activity in China, affecting the
movement of products into and out of China, and impacting the cost of
producing products in China and exporting them to other countries; (xv)
the risk of product recalls or product liability suits and costs
associated with product safety regulations; (xvi) other market
conditions, third party actions or approvals and the impact of
competition which could reduce demand for the Company's products or
delay or increase the cost of implementation of the Company's programs
or alter the Company's actions and reduce actual results; (xvii) the
risk that anticipated benefits of acquisitions may not occur or be
delayed or reduced in their realization; and (xviii) other risks and
uncertainties as may be detailed from time to time in the Company's
public announcements and SEC filings. The Company undertakes no
obligation to make any revisions to the forward-looking statements
contained in this release or to update them to reflect events or
circumstances occurring after the date of this release.
Hasbro
Debbie Hancock, 401-727-5401
Investor Relations
or
Wayne
S. Charness, 401-727-5983
News Media
Source: Hasbro
News Provided by Acquire Media