Hasbro Inc.’s earnings fell 51% to $48.2...

Hasbro Inc.’s earnings fell 51% to $48.2 million in 1987. In the fourth quarter, net dropped 61% to $6.78 million from the 1986 period. The New York-based toy company said the drop in fourth-quarter income was due to substantial writedowns of its products and associated tooling, the closing of unsuccessful product lines and losses by foreign subsidiaries.