Hulk, Spider-Man Rescue Marvel
Hollywood's fondness for superhero flicks helped boost Marvel Enterprises (MVL) to sharply higher earnings and revenue in the second quarter. The company also raised third-quarter guidance.
The New York-based comic-book company earned $32.8 million, or 42 cents a share, on $90.0 million in revenue in the second quarter, compared with earnings of $4.4 million, or 10 cents a share, on revenue of $71.0 million a year ago. The year-ago quarter had a $4.6 million impairment charge.
The latest quarter's earnings easily beat the consensus estimate of analysts surveyed by Thomson First Call, which was 31 cents a share.
The vast majority of the earnings and revenue gain came from licensing agreements, which primarily reflected the granting of character rights to the movies and related merchandisers. Marvel's licensing revenue was $56.8 million in the latest quarter, up from $17.2 million last year, while publishing revenue was $19.5 million, up from $17.9 million a year ago."The first half of 2003 was a period of strong financial performance, marked by the successful release of three feature films and an expanding licensing business," the company said in a release. "In the second quarter, results benefited from continued momentum of licensed products based on our library of characters, particularly products based on The Incredible Hulk and Spider-Man characters." Marvel now expects to earn 25 cents to 30 cents a share in the third quarter and $1.26 to $1.31 a share for all of 2003. Analysts surveyed by Thomson First Call had been forecasting earnings of 16 cents a share in the third quarter and $1.15 for the full year.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV