The maker of Monopoly board games said first-quarter profit climbed to $37.5 million, or 25 cents a share, from $32.9 million, or 19 cents a share, a year earlier.
NEW YORK (Reuters) - Hasbro Inc <HAS.N>, the second-largest U.S. toy company, posted a better-than-expected quarterly profit on Monday, helped by strong demand for its Transformers and Littlest Pet Shop lines.
The maker of Monopoly board games said first-quarter profit climbed to $37.5 million, or 25 cents a share, from $32.9 million, or 19 cents a share, a year earlier.
Quarterly sales rose 13 percent to $704.2 million from $625.3 million.
Analysts on average were expecting earnings of 14 cents a share on $582.2 million in sales, according to Reuters Estimates.
!ADVERTISEMENT!Hasbro said sales climbed 6 percent in the United States and Canada and 22 percent internationally.
The company raised its quarterly dividend by 25 percent to 20 cents per share, the highest in its history.
The first quarter can be a challenging time of year for toy makers as demand falls after the holiday shopping period, when most purchases are made.
Looking ahead, Hasbro is aiming to boost sales during the second quarter as it rolls out items tied to potential blockbuster summer films "Iron Man," "Indiana Jones and the Kingdom of the Crystal Skull" and "The Incredible Hulk."
The company said earlier this year that it expected challenges in 2008 as it absorbs the higher cost of doing business in China. Hasbro previously said costs would rise due to the appreciation of the Chinese currency, product testing, and the rising prices of labor and commodities.
(Reporting by Justin Grant; Editing by Lisa Von Ahn)
