Hasbro Revs Drop in Q1

Hasbro Inc., the parent company of Hasbro Interactive, today announced its financial results for the first quarter of 1998. Reported revenues were US$482.8 million, which is 13 percent below the $555.8 million Hasbro reported last year for the same quarter.

Alan G. Hassenfeld, Hasbro's chairman and CEO, said, "In the increasingly important second half , we will build sales and earnings momentum, not only from cost savings but also from Teletubbies - which debuted on April 6 on PBS to great acclaim; the summer movie release of DreamWorks' Small Soldiers; the fall release of our new CD-ROM version of the recently acquired Atari classic, Centipede; and new products from Tiger Electronics .

"We continue working hard to deliver our plan for this year and expect to achieve double-digit growth in earnings per share," Hassenfeld concluded.