Hasbro Inc HAS
Q3 2011 Earnings Call Transcript

Transcript Call Date 10/17/2011

Operator: Good morning, and welcome to the Hasbro Third Quarter 2011 Earnings Conference Call. At this time, all parties will be in a listen-only mode. A brief question-and-answer session will follow the formal presentation. Today's conference is being recorded. If you have any objections, you may disconnect at this time.

At this time, I would like to turn the call over to Ms. Debbie Hancock, Vice President of Investor Relations. Please go ahead.

Debbie Hancock - IR: Thank you and good morning everyone. Joining me today are; Brian Goldner, President and Chief Executive Officer; David Hargreaves, Chief Operating Officer; and Deb Thomas, Chief Financial Officer.

Our third quarter 2011 earnings release was issued earlier this morning and is available on our website. The press release includes information regarding non-GAAP financial measures included in today's call.

Additionally, whenever we discuss earnings per share or EPS, we are referring to earnings per diluted share. This morning, Brian will discuss key factors impacting our result, and Deb will review the financials. We will then open the call to your questions.

Before we begin, let me note that during this call and the question-and-answer session that follows, members of Hasbro management may make forward-looking statements concerning management's expectations, goals, objectives and similar matters. These forward-looking statements may include comments concerning our product and entertainment plans, anticipated product performance, business opportunities and strategies, cost, financial goals and expectations for our future financial performance in achieving our objective.

There are many factors that could cause actual results and experience to differ materially from the anticipated results or other expectations expressed in these forward-looking statements. Some of those factors are set forth in our Annual Report on Form 10-K in today's press release and in our other public disclosures. We undertake no obligation to update any forward-looking statements made today to reflect events or circumstances occurring after the date of this call.

Now, I would like to introduce Brian Goldner. Brian?

Brian D. Goldner - President and CEO: Thank you, Debbie. Good morning, everyone, and thank you for joining us today. The third quarter highlights the global execution of our branded play strategy and keeps us on the path to deliver meaningful growth in revenues and earnings per share in 2011. Not only was this a record third quarter in respect to revenue, operating profit and net earnings, there are number of important positive trends which give us the confidence to maintain our outlook for the full year.

Three weeks into the fourth quarter, our shipments in the U.S. and Canada segment are off to a strong start tracking ahead of last year and reaffirming our beliefs that the decline in the third quarter was substantially related to the timing of orders. We are all well aware that the retail landscape today requires more just-in-time inventory than before, as well as our new initiatives are only recently hitting retail shelves.

Read our Earnings Call Transcript disclaimer.
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