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Hasbro fourth-quarter sales estimate below market expectations
January 25, 2013 / 1:31 PM / in 5 years

Hasbro fourth-quarter sales estimate below market expectations

(Reuters) - Hasbro Inc (HAS.O) estimated fourth-quarter revenue of $1.28 billion, well below analysts’ expectations, saying demand for toys in the United States and in some international markets was lower than anticipated in the holiday season.

Shares of the company were down about 5 percent at $36.70 on Friday before the markets opened.

Hasbro said it was expecting fourth-quarter revenue of around $1.28 billion, while Wall Street was expecting the toymaker’s revenue to be $1.40 billion, according to Thomson Reuters I/B/E/S.

For full-year 2012, the company, whose brands include Monopoly, G.I. Joe, Nerf and Mr. Potato Head, estimated earnings in the range of $2.52 to $2.54 a share. Excluding fourth-quarter restructuring charges, the company expected to earn of $2.73 to $2.75 per share.

Analysts on average had estimated earnings of $2.85 per share.

Hasbro is scheduled to announce fourth-quarter results on February 7.

Reporting by Nivedita Bhattacharjee in Chicago, Chris Peters in Bangalore; Editing by Roshni Menon

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