Hasbro Inc , the No. 2 U.S. toy company, posted a lower quarterly profit on Monday, as sales fell due to retailers shaving their inventories to match lower demand for toys in the recession.

Net profit was $19.7 million, or 14 cents per share, down from $37.5 million, or 25 cents per share, a year earlier.

The results matched analysts average estimate, according to Reuters Estimates.

Sales fell to $621.3 million from $704.2 million a year ago.

(Reporting by Martinne Geller; Editing by Derek Caney)