Manufacturer of "Transformers" robot toys, Hasbro Inc., managed to rise by 7.5% in early trading, mainly on the back of posting fourth-quarter earnings that beat the average estimate pegged by analysts.
On the New York Stock Exchange, at about 8:07 AM, before the regular trading session opened, Hasbro climbed by $2.30 to $33.10. Before today, and the news of successful fourth-quarter earnings, the stock had managed to fall by 3.9% during this year on the NYSE.
For the year's final three months, earnings of the company hiked to $165.6 Million, or $1.09 a share, from the previous year's figure of $93.6 Million, or 62 cents per share. On an average, analysts had estimated earnings of about
81 cents a share.
"We are extremely pleased with our fourth quarter and full-year results that demonstrate Hasbro's strategy is working. The Hasbro teams around the globe performed at a high level in 2009, delivering innovation and strong marketing programs to our consumers and retailers", said President and Chief Executive Officer, Brian Goldner.
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