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Last Updated: Monday, 23 April 2007, 18:42 GMT 19:42 UK
Spider-Man lifts Hasbro's profits
Spider-Man toy
Hasbro expects Spider-Man sales to rise further ahead of the latest film
Hasbro's latest results have swung back into profit thanks to strong sales of its Spider-Man toys.

The number two US toy-maker, it made a net profit of $32.9m (16.4m) in the first three months of 2007, compared with a loss of $4.9m a year earlier.

With its results well ahead of Wall Street's expectations, its revenues rose 34% to $625.3m.

Hasbro expects sales of Spider-Men toys to grow still further after the release of the Spider-Man 3 movie in May.

'Highest ever profit'

The firm's other best selling toys during the first three months of the year were its Littlest Pet Shop and Playskool brands.

"We believe this was the highest level of first-quarter net income in the company's history, including the Pokemon-Star Wars era of 1999-00," said analyst Sean McGowan of Wedbush Morgan Securities.

Hasbro's strong results come a week after its larger rival Mattel also posted a surprise first-quarter profit.

Toy-makers traditionally break even at best during the first three months of the year, as it is their quietest quarter following the lucrative Christmas season.


SEE ALSO
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16 Oct 06 |  Business

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