NEW YORK–(BUSINESS WIRE)–Marvel Entertainment, Inc. (NYSE: MVL), a global character-based entertainment and licensing company, reported operating results for the third quarter and nine months ended September 30, 2007. Marvel also today raised its 2007 financial guidance for net sales, net income and diluted EPS and initiated financial guidance for 2008.
Marvel Entertainment, Inc.
For Q3 2007, Marvel reported that net income rose to $36.3 million, or $0.45 per diluted share, compared to net income of $13.2 million, or $0.16 per diluted share, in Q3 2006. The year-over-year increases in net income and EPS are largely attributable to the strength of the Company’s worldwide licensing operations. The Q3 performance also benefited from continued growth in the publishing segment. Net income for the first nine months of 2007 was $112.2 million, or $1.34 per diluted share, compared to net income of $47.0 million, or $0.53 per diluted share, for the same period in 2006.
Marvel’s Chairman, Morton Handel, commented, “Marvel achieved strong operating results across all its businesses for the third quarter and nine months ending September 30, 2007. Licensing segment results benefited from strong contributions related to Spider-Man 3 consumer merchandise licensing. The publishing segment continues to benefit from strong sales of event-driven imprints such as World War Hulk and Stephen King’s Dark Tower series. Finally, our toy license agreement with Hasbro yielded an improved operating income contribution in the 2007 periods, largely due to fees from Spider-Man 3-based products.
“We are excited by the progress on our Iron Man and Incredible Hulk feature films for next year and the growing retail and consumer product support for these properties. We are also focused on tapping the potential of Marvel properties online, and are poised to unveil the first stage of that evolution by the end of 2007.”