Hasbro reports cash of $792 million, returns $133 million to shareholders in fiscal Q1

By Lisa Kerner

Charlotte, N.C., April 21 - Hasbro, Inc.'s first priority is investing back into the company's long-term profitability, followed by returning cash to shareholders, said chief financial officer Deb Thomas during the company's first-quarter earnings call on Monday.

The Pawtucket, R.I.-based game and toy company returned roughly $133 million to shareholders during the quarter, including $52.4 million in cash dividends and $80.5 million in share repurchases.

At quarter-end, $444.3 million remained available under Hasbro's current share repurchase authorization.

Cash flows from operations for the quarter were $242 million.

For the trailing 12 months, operating cash flow was $345.7 million.

Hasbro reported cash of about $792 million and long-term debt of $425 million at quarter-end.

"Given current interest rates, our plan is to refinance all of this amount," said Thomas of the debt.

Hasbro's U.S. and Canada segment revenues declined slightly by 1% in the first quarter, while the international segment first-quarter revenues increased 5%.

First-quarter revenues increased 2% to $679.5 million, year over year.

Net earnings for the first quarter 2014 were $32.1 million, or $0.24 per diluted share, compared to a net loss of $6.7 million, or five cents per diluted share, in 2013.

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