With net revenues up 11% to $3.1 billion for the year, Hasbro, the second largest U.S. toymaker, reported gains for both the year and the fourth quarter thanks to strong sales of new toys, classic brands, and board games. The toy giant was also aided by favorable currency rates (due to the falling dollar) on its considerable international business. Hasbro took charges of $18.4 million for closing a plant in Spain and $14 million for exiting leases and severance for employees of the remaining Wizards of the Coast retail stores.
Revenues for U.S. toy sales totaled $1.1 billion for the year and $318.9 million for the fourth quarter, an increase of 6.2 % and 10.4% over 2002 respectively. Hasbro credits strong sales for many of its brands including Beyblade, Transformers, and VideoNow for the toy segment's strong performance.
