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Hasbro profit falls, but stock rises

PAWTUCKET, R.I. — Hasbro Inc.’s fourth-quarter net income edged down in a disappointing holiday season hurt by one-time charges and weak sales of the Beyblade spinning top game and Marvel toys. But the company boosted its dividend by 8 percent, and its shares rose 4.5 percent Monday.

Investors were reassured that the weakness was concentrated in the boys area, a unit that is sure to turn around when new movies come out, said Needham & Co. analyst Sean McGowan. The unit’s sales fell 16 percent. The girls area saw a 19 percent gain.

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Hasbro earned $129.8 million, or 98 cents a share, down from $130.3 million, or 99 cents, a year earlier. Revenue was flat at $1.28 billion.

Full-year net income fell 15 percent to $286.2 million.

Associated Press

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