Marvel Reports Q3 EPS of $0.64

by Jeff

NEW YORK–(BUSINESS WIRE)–Marvel Entertainment, Inc. (NYSE: MVL), a global character-based entertainment and licensing company, today reported operating results for its third quarter and nine months ended September 30, 2008. Marvel also today raised its 2008 financial guidance for net sales, net income and diluted EPS and initiated financial guidance for 2009.

For Q3 2008, Marvel reported net sales of $182.5 million and net income of $50.6 million, or $0.64 per diluted share, compared to net sales of $123.6 million and net income of $36.3 million, or $0.45 per diluted share, in Q3 2007. The year-over-year improvement reflects an earlier-than-expected recognition of approximately $60 million in film revenues associated with the box office performance of Marvel’s Iron Man feature film.

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