Hasbro Announces Preliminary 2012 Results, Job Cuts
In its preliminary 2012 results released today, Hasbro expects that it will post revenue of around $4.1 billion for the full year, down from 2011's $4.3 billion. Net profit is expected to come in at $2.73-$2.75 per diluted share, excluding Q4 restructuring charges. That's down from the $2.82 of the previous year.
The company added that it will reduce its workforce by roughly 10% this year. It expects to take a $20 million-$30 million charge for this and other cost-saving measures.
Hasbro will provide fuller details of its fiscal 2012 and Q4 earnings in a conference call scheduled for Feb. 7.
The article Hasbro Announces Preliminary 2012 Results, Job Cuts originally appeared on Fool.com.Fool contributor Eric Volkman has no position in Hasbro. The Motley Fool recommends and owns shares of Hasbro. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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