Hasbro Inc. reported financial results for the full-year and fourth quarter 2016. Net revenues for the full-year 2016 increased 13 percent to $5.02 billion versus $4.45 billion in 2015. Excluding a negative $61.0 million impact from foreign exchange, 2016 revenues increased 14 percent.
Reported net earnings for the full-year 2016 increased 22 percent to $551.4 million, or $4.34 per diluted share, compared to $451.8 million, or $3.57 per diluted share in 2015. Adjusted net earnings for the full-year 2016 were $566.1 million, or $4.46 per diluted share. Adjusted 2016 earnings exclude a pre-tax $32.9 million, or $0.12 per diluted share, non-cash fourth quarter goodwill impairment charge related to Backflip Studios. Adjusted full-year 2016 net earnings compares to 2015 adjusted net earnings of $445.0 million, or $3.51 per diluted share, which exclude a pre-tax gain of $9.6 million from the sale of the Company’s manufacturing operations in East Longmeadow, Mass. and Waterford, Ireland.
Games category revenues increased 9 percent; revenues also grew in both the Girls and Boys categories; Franchise Brand revenues grew 2 percent; and Partner Brand revenues increased 28 percent.
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