Hasbro Inc the second largest toymaker in the U.S., posted quarterly revenue and profit that was better than had been expected, driven thanks to strong demand for its action figures from Star Wars and the addition of Princess dolls from Disney to its long list of toys.
Shares of Hasbro, which also is the maker of My Little Pony toys and the board game Monopoly, were up by 4.6% in Monday’s early morning trading.
Hasbro has a number of very lucrative licensing deals in place for making toys that are based upon blockbuster movie franchises such as Star Wars, Avengers and Jurassic Park.
Last year, Hasbro edged out Mattel Inc its bigger rival for the license to make the dolls based up the popular princesses from Walt Disney Co such as Snow White and Cinderella.
In the most recently ended quarter, Hasbro started selling its Disney dolls from Frozen and Princess, which helped the sales of its girls toys division increase for only the first time in the past six quarters.
The toymaker is expecting sales from the merchandise of Star Wars in 2016 to retain a strong momentum as the versions on home entertainment are launched of The Force Awakens during the spring and the Rogue One comes out for release in December.
Revenue from its toys that are targeted at boys was up over 24%, driven by the NERF brand toy guns and the Star Wars figurines based on the movies.
Net income that was attributable to the company increased to over $48.8 million equal to 38 cents a share, in its first quarter that ended on March 27. That is compared to last year’s $26.7 million equal to 21 cents a share.
Net revenue was 16.5% higher ending at $831.3 billion compared to last year during the same period of $713.5 million.
Analysts were expecting profit to be 24 cents a share with revenue coming in at $777.1 million said an international news agency.
Up to the close of business on Friday, shares of Hasbro were up over 25% over the last 12 months.
The licensing deals signed by Hasbro last year for the movie blockbusters have put the toymaker back on track with its biggest quarter coming up at the end of the year with the holiday shopping season.