Hasbro, Inc. (NASDAQ:HAS) Files An 8-K Results of Operations and Financial Condition
Item 2.02 Results of Operations and Financial Condition.
On February 8, 2019, Hasbro, Inc. (“Hasbro” or “we”) announced our financial results for the fiscal quarter and fiscal year ended December 30, 2018, and certain other financial information. The press release, attached as Exhibit 99.1, includes non-GAAP financial measures as defined under SEC rules, specifically Adjusted net earnings and Adjusted earnings per diluted share, excluding the impact of charges associated with the Toys“R”Us liquidation; goodwill and intangible asset impairments; severance costs and U.S. tax reform, as well as Adjusted operating profit absent the impact of the charges associated with the Toys“R”Us liquidation, goodwill and intangible asset impairments and severance costs. Also included in the financial tables are the non-GAAP financial measures of EBITDA and Adjusted EBITDA. EBITDA represents net earnings attributable to Hasbro, Inc. excluding interest expense, income taxes, depreciation and amortization. Adjusted EBITDA also excludes the impact of charges associated with the Toys“R”Us liquidation, goodwill and intangible asset impairments and severance costs in the fourth quarter and full-year 2018. As required by SEC rules, we have provided reconciliations on the attached schedules of these measures to the most directly comparable GAAP measure. Management believes that Adjusted net earnings, Adjusted earnings per diluted share and Adjusted operating profit absent the impact of charges associated with the Toys“R”Us liquidation, goodwill and intangible asset impairments and severance costs in the fourth quarter and full-year 2018 provides investors with an understanding of the underlying performance of the Company’s business absent these unusual events. Management believes that EBITDA and Adjusted EBITDA are appropriate measures for evaluating the operating performance of the Company because they reflect the resources available for strategic opportunities including, among others, to invest in the business, strengthen the balance sheet and make strategic acquisitions.
These non-GAAP measures should be considered in addition to, not as a substitute for, or superior to, net earnings or other measures of financial performance prepared in accordance with GAAP as more fully discussed in the Company’s financial statements and filings with the SEC. As used herein, “GAAP” refers to accounting principles generally accepted in the United States of America.
The information furnished in Item 2.02, including the Exhibit attached hereto,shall not be deemed “filed” for any purpose, and shall not be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, as amended, regardless of any general incorporation language in any such filing.
Item 9.01Financial Statements and Exhibits.
99.1Hasbro, Inc. Press Release, dated February 8, 2019.
HASBRO INC Exhibit
EX-99 2 exhibit991.htm HASBRO,…
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About Hasbro, Inc. (NASDAQ:HAS)
Hasbro, Inc. (Hasbro) is a branded-play company. The Company’s operating segments include the U.S. and Canada segment, the International segment, the Entertainment and Licensing segment, and Global Operations segment. The U.S. and Canada segment is engaged in the marketing and sale of its products in the United States. The International segment is engaged in the marketing and sale of the Company’s product categories to retailers and wholesalers in countries in Europe, Latin and South America, and the Asia Pacific region. The Entertainment and Licensing segment includes the Company’s consumer products licensing, digital gaming, television and movie entertainment operations. The Global Operations segment sources production of the Company’s toy and game products. The Company offers entertainment offerings, including television programming and motion pictures, and products, ranging from traditional to digital, all informed by storytelling and consumer insights.