Marvel Movie News
Marvel's financial statement provides some interesting movie news! It lists the current Marvel projects that have the green light, and a new computer animated Blade series soon to come on MTV. See the entire release at the link, but here is the movie list
Licensing Propels Marvel to Strong Q2 Performance
Tuesday August 12, 6:31 am ET
Raises Full Year EPS Guidance
Marvel will host a webcast today for all investors at 9:00 a.m. EDT available at: www.companyboardroom.com
NEW YORK--(BUSINESS WIRE)--Aug. 12, 2003-- Marvel Enterprises, Inc. (NYSE: MVL - News), a global provider of entertainment content, today reported financial results for its second quarter ended June 30, 2003, raised its financial guidance for the year ending December 31, 2003 and initiated financial guidance for fiscal 2004.
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SUMMARY FINANCIAL RESULTS
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Three Months Ended Six Months Ended
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(In thousands, except per share
data) 6/30/03 6/30/02 6/30/03 6/30/02
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Net sales $89,966 $70,939 $177,342 $128,161
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Operating income 42,844 20,482 97,559 29,758
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Net income (loss) attributable
to common stock (1) 32,753 4,376 73,812 ($3,556)
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Net income (loss) attributable
to common
stock per diluted share $0.42 $0.10 $0.99 ($0.09)
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Weighted average shares 77,135 41,545 75,710 40,373
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EBITDA (2) 43,758 21,673 99,316 31,980
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(1) Results for the six month period ended June 30, 2002 include the
impact of the non-cash SFAS 142 impairment charge of $4.6 million.
(2) Marvel is transitioning its historical reporting metric to
operating income from EBITDA for Q3 2003 and beyond, as operating
income is a GAAP measure that does not require reconciliation. A
reconciliation of EBITDA to operating income, the most comparable
GAAP financial measure, can be found in this release on page 8.
Marvel President and CEO, Allen Lipson, commented, "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. 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.
"With a proven business model and growing cash flows, we are now in the process of reviewing strategic initiatives aimed at increasing the Company's long-term return on investment (ROI) at acceptable risk levels."
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Marvel Enterprises, Inc.
Divisional Net Sales/EBITDA/Operating income
(dollars in thousands)
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Three Months Ended Six Months Ended
June 30, June 30,
2003 2002 2003 2002
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Licensing: Net Sales $56,750 $17,156 $106,651 $26,328
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EBITDA (1) 41,188 16,587 89,944 20,839
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Operating Income 41,156 16,556 89,880 20,776
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Publishing: Net Sales 19,535 17,942 34,747 32,501
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EBITDA (1) 6,173 6,217 11,220 9,992
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Operating Income 6,169 6,213 11,211 9,984
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Toys: Net Sales 13,681 35,841 35,944 69,332
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EBITDA (1) 3,192 2,293 9,935 7,050
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Operating Income 2,314 1,137 8,251 4,899
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Corporate Overhead: (6,795) (3,424) (11,783) (5,901)
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TOTAL NET SALES $89,966 $70,939 $177,342 $128,161
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TOTAL EBITDA (1) 43,758 21,673 99,316 31,980
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TOTAL OPERATING INCOME 42,844 20,482 97,559 29,758
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(1) Marvel is transitioning its historical reporting metric to
operating income from EBITDA for Q3 2003 and beyond, as operating
income is a GAAP measure that does not require reconciliation. A
reconciliation of EBITDA to operating income, the most comparable
GAAP financial measure, can be found in this release on page 8.
Divisional Review:
Marvel's Licensing Division benefited from continued strength in consumer product licensing, with growth in both new licenses and royalty collections above minimum guarantees associated with existing licenses. The division benefited from growth across most license categories with consumer products based on The Hulk movie being particularly strong. The Hulk and all other Marvel character action figure and accessory toy lines (except for Spider-Man: The Movie toys) are produced and sold by Marvel's licensee, Toy Biz Worldwide, with Marvel recording related royalty income within its licensing segment. The creative and marketing talents of Marvel's in-house toy division are responsible for the design, marketing and sales