• Net revenues of $672.0 million for the first quarter 2011 compared to $672.4 million for the first quarter 2010; foreign exchange had a positive $4.8 million impact on first quarter 2011 revenues;
• Net earnings of $17.2 million, or $0.12 per diluted share, compared to $58.9 million, or $0.40 per diluted share in 2010; first quarter 2010 net earnings include a favorable tax adjustment of $21.2 million or $0.14 per diluted share;
• International segment revenues grew 15% to $254.3 million, reflecting growth in all major regions;
• Boys product category revenues increased 25% to $290.2 million;
• Repurchased 1.4 million shares of common stock at a total cost of $63.7 million.

"2011 is the first year in our multi-year strategic plan in which we will have significant initiatives across all elements of our brand blueprint - in television, in movies, in digital gaming, in licensing and, most importantly, across our broad portfolio of toys and games," said Brian Goldner, President and Chief Executive Officer. "We began the year by delivering a quarter consistent with our plan, including growth in many brands and across many countries. Importantly, we are building momentum leading up to the theatrical release of Transformers: Dark of the Moon on July 1 and two new Marvel films, Thor and Captain America: the First Avenger, this summer; multiple new innovative product launches; and the airing of Hasbro Studios television programs in territories around the world. The stage has been set for a strong year, and we continue to believe that we will grow revenues and earnings per share for the full-year 2011."

"Hasbro's financial position remains strong," said Deborah Thomas, Chief Financial Officer. "Our first quarter results reflect continued strategic investments to fuel the future growth of Hasbro. In the first quarter, this spending includes higher product development to support the increased number of initiatives Hasbro has planned this year and over the next several years, continued investments in emerging markets and our now fully-staffed team running our television initiatives."

"Additionally, our balance sheet remains healthy," continued Thomas. "Since year-end, we have successfully implemented a new commercial paper borrowing program to support short-term liquidity needs; our cash balance has increased as we are in a high collection period for our receivables; and our inventory has grown to support major initiatives shipping in 2011. At the same time, during the first quarter we continued to return cash to shareholders through our share buyback program and our quarterly dividend, which we increased 20% effective in the second quarter."

In the first quarter, worldwide net revenues in the Boys product category increased 25% to $290.2 million; the Games and Puzzles category decreased 12% to $200.4 million; the Girls category declined 13% to $113.2 million; and the Preschool category was down 18% to $68.2 million.

U.S. and Canada segment net revenues were $391.2 million, a decrease of $33.6 million or 8%, compared to $424.7 million in 2010. The results reflect growth in the Boys category offset by declines in the other major product categories. The U.S. and Canada segment reported an operating profit of $41.0 million, compared to $61.1 million in 2010.

International segment net revenues were $254.3 million, an increase of $32.6 million or 15%, compared to $221.7 million in 2010. Net revenues in the International segment grew 13% absent the positive $3.1 million impact of foreign exchange. Revenue in the International segment reflects growth in the Boys category slightly offset by declines in the other major product categories. The International segment reported an operating loss of $1.7 million, compared to an operating loss of $2.4 million in 2010.

Entertainment and Licensing segment net revenues declined 2% to $24.6 million, compared to $25.1 million in 2010. Revenue in the Entertainment and Licensing segment reflects lower licensing revenue primarily associated with the 2009 movie, Transformers: Revenge of the Fallen, mostly offset by increases in other brands' licensing revenue as well as movie and television related revenues. The Entertainment and Licensing segment reported an operating profit of $5.4 million compared to $9.4 million in 2010.

The Company repurchased a total of 1.4 million shares of common stock during the first quarter 2011 at a total cost of $63.7 million and an average price of $45.48 per share. At quarter end, $86.4 million remained available under the current share repurchase authorization.

About Hasbro

Hasbro, Inc. (NASDAQ: HAS) is a branded play company providing children and families around the world with a wide-range of immersive entertainment offerings based on the Company's world class brand portfolio. From toys and games, to television programming, motion pictures, video games and a comprehensive licensing program, Hasbro strives to delight its customers through the strategic leveraging of well-known and beloved brands such as TRANSFORMERS, LITTLEST PET SHOP, NERF, PLAYSKOOL, MY LITTLE PONY, G.I. JOE, MAGIC: THE GATHERING and MONOPOLY. The HUB, Hasbro's multi-platform joint venture with Discovery Communications (NASDAQ: DISCA, DISCB, DISCK) launched on October 10, 2010. The online home of The HUB is www.hubworld.com. The HUB logo and name are trademarks of Hub Television Networks, LLC. All rights reserved. © 2011 Hasbro, Inc. All Rights Reserved.