Hasbro reported a 69 percent year-over-year increase in its third quarter entertainment and licensing earnings, with net revenues at $46.3 million compared to $27.5 million last year. The segment reported an operating profit of $15.3 million compared to $5.9 million last year.
The figures were reported during Hasbro's third quarter investor conference call. Total net revenue for the company grew to $1.38 billion, compared to $1.31 billion in the third quarter last year.
The growth in this category is associated with the sale of television programming globally, movie and merchandise-related revenue from Transformers: Dark of the Moon and a one-time payment from Universal Studios.
Licensed properties with strong performance in the third quarter include Beyblade, Star Wars and Sesame Street. Hasbro properties My Little Pony and Pound Puppies both enjoyed strong performance in entertainment as well as toy sales.
"With respect to Transformers, we currently believe full-year revenue for the brand will be between the levels reported during the past two movie years, specifically between the $482 million we reported in 2007 and $592 million reported in 2009," says Brian Goldner, Hasbro president and chief executive officer. "This is in line with our original 2011 plans, and despite beginning the year with carry-forward inventory, Transformers has been a major contributor to our revenue growth during the year, posting strong shipments and point-of-sale gains versus last year with year-over-year point-of-sale trends improving since the movie launch."