As we look to the fourth quarter, retailers have strong plans for the October 4th launch of Hasbro product for both Frozen 2 and Star Wars: The Rise of Skywalker. Our team is ready for the most important quarters of the year. We are driving revenues around amazing innovation in storytelling and as this management team has done in the past, we're investing for future profitable growth. Following a strong first half, our view of the year has not changed and we believe we are well positioned to deliver profitable growth for the full year 2019.
Our underlying tax rate for the quarter was 18.3% versus 17.4% last year. We believe the full year tax rate will trend to the middle-to-high end of our guided 17.5% to 19% range and could potentially go slightly above the high end, due to our own response to potential tariffs. Our financial strength is evident in our strong balance sheet and cash flow, including quarter end cash position of $1.2 billion, lower inventories and DSOs flat to last year at 74 days.
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