Hasbro Reaffirms 2012 Guidance that it Expects to Grow Revenues and
Earnings Per Share Absent the Impact of Foreign Exchange
PAWTUCKET, R.I.--(BUSINESS WIRE)--
Hasbro,
Inc (NASDAQ:HAS), and Paramount Pictures, announced today that G.I.
JOE: RETALIATION will now be released in 3D. The film, originally slated
for release in June 2012, is scheduled to be released March 29, 2013.
"It is increasingly evident that 3D resonates with movie-goers globally
and together with Paramount, we made the decision to bring fans an even
more immersive entertainment experience," said Brian Goldner, Hasbro's
President and CEO.
"In 2012, we continue to have several strong motion picture and
television entertainment backed properties that are selling well at
retail and our entertainment strategy remains strong and on-track,"
Goldner said. "Through our own Hasbro Studios for television and in
partnership with several movie studios including Paramount, Universal,
Sony and Relativity, we are creating entertainment experiences around
many of our highly popular iconic brands. For the full year 2012, we
continue to believe, absent the impact of foreign exchange, we will
again grow revenues and earnings per share."
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, including with respect to its revenues
and earnings per share, 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) delays, increased costs or difficulties associated
with the development and release of planned entertainment supporting the
Company's products and brands and consumer interest in and acceptance of
such entertainment; (vii) 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; (viii)
greater than expected costs, or unexpected delays or difficulties,
associated with the Company's investment in its joint venture with
Discovery Communications, LLC, to operate THE HUB network and the
creation of new content to appear on the network and elsewhere; (ix)
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; (x)
greater than expected costs or unexpected delays or difficulties
associated with the creation of Hasbro's Gaming Center of Excellence and
the execution of the Company's strategy for driving innovation and
immersive play experiences in its gaming business; (xi) unexpected
delays or difficulties in the Company's execution of its plans to drive
growth and increased profitability in its U.S. and Canada business;
(xii) 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; (xiii)
work stoppages, slowdowns or strikes, which may impact the Company's
ability to manufacture or deliver product in a timely and cost-effective
manner; (xiv) 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; (xv) 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; (xvi) 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; (xvii) the risk
of product recalls or product liability suits and costs associated with
product safety regulations; (xviii) 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; (xix) the risk that anticipated benefits of
acquisitions may not occur or be delayed or reduced in their
realization; and (xx) other risks and uncertainties as may be detailed
from time to time in the Company's public announcements and Securities
and Exchange Commission ("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.
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. The
Company's five major motion pictures to date have generated more than $3
billion dollars at the global box office. From toys and games, to
television programming, motion pictures, digital gaming and a
comprehensive licensing program, Hasbro strives to delight its global
customers with innovative, 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 Company's Hasbro Studios
develops and produces television programming for markets around the
world. Programming in the U.S. is distributed on The Hub TV Network, a
multi-platform joint venture between Hasbro and Discovery Communications
(NASDAQ: DISCA, DISCB, DISCK). Through the Company's deep commitment to
corporate social responsibility, including philanthropy, Hasbro is
helping to build a safe and sustainable world for future generations and
to positively impact the lives of millions of children and families
every year. It has been recognized for its efforts by being named one of
the "World's Most Ethical Companies" and is ranked as one of Corporate
Responsibility Magazine's "100 Best Corporate Citizens." Learn more at www.hasbro.com.
© 2012 Hasbro, Inc. All Rights Reserved.
HAS-LIC
Hasbro, Inc.
News Media:
Wayne Charness, 401-727-5983
or
Investor:
Debbie
Hancock, 401-727-5401
Source: Hasbro, Inc.
News Provided by Acquire Media
