Toymaker Hasbro, which has a plant in Co Waterford, yesterday posted a nearly 23 per cent jump in third-quarter earnings. The company's earnings were boosted by strong US sales of popular new toys as well as classic toys and board games.

"Hasbro had a terrific quarter. Sales and earnings came in above our estimates," said Mr Anthony Gikas, an analyst with US Bancorp Piper Jaffray. "Their product is well-aligned at retail right now, the balance sheet continues to improve, management is doing a great job."

Pawtucket, Rhode Island-based Hasbro, which also makes GI Joe, posted net income of $68.5 million (€58.7 million), up from $55.8 million, a year earlier.

Excluding one-time costs for an accounting change, the company earned $85.8 million in the third quarter.

Hasbro said it is "cautiously optimistic" about the key upcoming holiday season, and several major customers have named toys among the stronger categories.

The company also said it is "evaluating the viability" of some underperforming operations such as an international manufacturing plant, possibly leading to operating charges as early as the fourth quarter.

Net revenue rose 18.3 per cent in the quarter to $971.1 million, with revenue in the US toys segment up 23 per cent $377.3 million.

International revenues were $328.1 million, up 22 per cent.