Hasbro profits fall from stronger dollar, recession cutbacks

Hasbro Inc, the worlds second-largest toymaker, reported a 30 per cent decline in fourth quarter profits compared to the year before, despite the burst of new products from the Star Wars and Transformers films, dpa reported.

Net earnings dropped to 93.6 million dollars. Revenues were down 5 per cent to 1.23 billion dollars from 1.3 billion dollars.

It was the first drop in quarterly revenue in more than two years. The strengthening dollar has made Hasbro exports less attractive, and consumers have cut back on overall spending amidst the worst unemployment rate in 16 years.

The United States' recession is now in its second year.