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Hasbro, Inc. (HAS) SEC Filing 10-Q Quarterly report for the period ending Sunday, March 29, 2020

Hasbro Inc

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CIK: 46080 Ticker: HAS

EXHIBIT 99.1
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For Immediate Release

Hasbro Reports First Quarter 2020 Financial Results
Provides Business Update Related to COVID-19
•Completed acquisition of Entertainment One Ltd. (eOne) in early fiscal 2020
•First quarter 2020 revenues for the combined company were $1.11 billion
◦Strong demand for Hasbro products, notably in gaming
◦Later delivery timing for eOne content in 2020 versus 2019
•Supply chain positioned to meet full-year product demand requirements leveraging growing retailer channels, including ecomm and omni-channel
•Substantial liquidity and access to cash, including quarter ending cash of $1.2 billion; operating cash flow of $291.6 million; and availability of $1.5 billion under revolving credit facility
•Net loss of $69.6 million or $0.51 per diluted share; Excluding eOne acquisition-related expenses and purchased intangible amortization, adjusted net earnings were $77.7 million, or $0.57 per diluted share
•Hasbro supporting community efforts to obtain and supply personal protective equipment, toy and game donations, books, learning and nutritious meals for children and families in need as well as a global campaign, Bring Home the Fun, to provide resources to keep kids occupied and engaged around the world

Pawtucket, R.I., April 29, 2020 -- Hasbro, Inc. (NASDAQ: HAS), a global play and entertainment company, today reported financial results for the first quarter 2020 and provided a business update on COVID-19 related matters. Hasbro completed its acquisition of Entertainment One Ltd. (eOne) at the beginning of the first quarter. 2020 results are those of the combined company, and 2019 results referenced herein reflect the proforma combined results. See the financial tables accompanying this press release for a reconciliation of as reported to pro forma and adjusted results.

Net revenues for the first quarter 2020 were $1.11 billion versus $1.20 billion pro forma revenues in 2019. Foreign exchange had an $11.7 million negative impact on first quarter 2020 revenues.
Net loss for the first quarter 2020 was $69.6 million, or $0.51 per diluted share, versus pro forma net earnings of $76.4 million, or $0.56 per diluted share in 2019. First quarter 2020 net loss included $127.5 million after tax of acquisition-related expenses and $19.9 million after tax of purchased intangible amortization associated with the eOne acquisition. Excluding these items, adjusted net earnings for the first quarter 2020 were $77.7 million, or $0.57 per diluted share.





The following information was filed by Hasbro Inc (HAS) on Wednesday, April 29, 2020 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Hasbro Inc's 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Cover
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive Earnings (Loss)
Consolidated Statements Of Operations
Consolidated Statements Of Shareholder's Equity And Redeemable Noncontrolling Interests
Basis Of Presentation
Basis Of Presentation (Details)
Basis Of Presentation (Policies)
Basis Of Presentation (Tables)
Business Combination
Business Combination (Tables)
Business Combination - Changes In Carrying Amount Of Goodwill (Details)
Business Combination - Narrative (Details)
Business Combination - Preliminary Allocation Of Purchase Price (Details)
Business Combination - Total Consideration Transferred (Details)
Business Combination - Unaudited Supplemental Pro Forma Results Of Operations (Details)
Derivative Financial Instruments
Derivative Financial Instruments (Tables)
Derivative Financial Instruments - Fair Values Of Undesignated Derivative Financial Instruments (Details)
Derivative Financial Instruments - Narrative (Details)
Derivative Financial Instruments - Schedule Of Foreign Currency Forward Contracts Designated As Cash Flow Hedges (Details)
Derivative Financial Instruments - Schedule Of Net Gains (Losses) On Cash Flow Hedges Activities (Details)
Derivative Financial Instruments - Summary Of Cash Flow Hedging Instruments (Details)
Earnings (Loss) Per Share
Earnings (Loss) Per Share (Tables)
Earnings (Loss) Per Share - Narrative (Details)
Earnings (Loss) Per Share - Schedule Of Earnings (Loss) Per Share (Details)
Eone Investments In Productions And Investments In Acquired Content Rights
Eone Investments In Productions And Investments In Acquired Content Rights (Tables)
Eone Investments In Productions And Investments In Acquired Content Rights - Program Costs Amortization (Details)
Eone Investments In Productions And Investments In Acquired Content Rights - Program Production Costs (Details)
Fair Value Of Financial Instruments
Fair Value Of Financial Instruments - Narrative (Details)
Fair Value Of Financial Instruments (Tables)
Fair Value Of Financial Instruments - Fair Value Hierarchy (Details)
Fair Value Of Financial Instruments - Reconciliation Of Level 3 Fair Value (Details)
Financial Instruments
Financial Instruments (Tables)
Financial Instruments - Long-Term Debt Instruments (Details)
Financial Instruments - Narrative (Details)
Financial Instruments - Production Financing Loans (Details)
Financial Instruments - Schedule Of Line Of Credit Facilities (Details)
Financial Instruments - Schedule Of Production Financing Loan And Other Loans (Details)
Income Taxes
Income Taxes (Details)
Leases
Leases (Tables)
Leases - Lease Cost (Details)
Leases - Maturities Of Operating Lease Liabilities (Details)
Leases - Narrative (Details)
Other Comprehensive Earnings (Loss)
Other Comprehensive Earnings (Loss) (Tables)
Other Comprehensive Earnings (Loss) - Narrative (Details)
Other Comprehensive Earnings (Loss) - Schedule Of Accumulated Other Comprehensive Earnings (Loss) (Details)
Other Comprehensive Earnings (Loss) - Schedule Of Other Comprehensive Income (Loss) (Details)
Restructuring Actions
Restructuring Actions (Tables)
Restructuring Actions - Schedule Of Restructuring And Related Costs (Details)
Revenue Recognition
Revenue Recognition (Tables)
Revenue Recognition - Contract Assets And Liabilities (Details)
Revenue Recognition - Narrative (Details)
Segment Reporting
Segment Reporting (Tables)
Segment Reporting - Narrative (Details)
Segment Reporting - Net Revenues By Product Category (Details)
Segment Reporting - Net Revenues By Segment (Details)
Segment Reporting - Operating Profit (Loss) By Segments (Details)
Segment Reporting - Schedule Of International Segment Net Revenues By Major Geographic Region (Details)
Segment Reporting - Total Assets By Segments (Details)
Ticker: HAS
CIK: 46080
Form Type: 10-Q Quarterly Report
Accession Number: 0000046080-20-000054
Submitted to the SEC: Thu May 07 2020 2:55:19 PM EST
Accepted by the SEC: Thu May 07 2020
Period: Sunday, March 29, 2020
Industry: Games Toys And Childrens Vehicles No Dolls And Bicycles

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