4Kids Entertainment announces Quarter Revenues by
Kit
Monday, August 18, 2003
Teenage Mutant Ninja Turtles very good for 4Kids.
4Kids Entertainment announced net revenues for the second quarter ended June 30, 2003 climbed 185% to $23.4 million from $8.2 million in the same period last year. Net income for the quarter was $3.6 million, or $0.26 per diluted share, compared to net income of $1.2 million, or $0.09 per diluted share, in the yearearlier period, an increase of 200%.
For the six months ended June 30, 2003, net revenues rose 193% to $44.3 million from $15.1 million in the same period last year. Net income for the six-month period was $6.6 million, or $0.47 per diluted share, compared to net income of $2.8 million, or $0.20 per diluted share, in the same period a year earlier, an increase of 136%.
Al Kahn, Chairman and Chief Executive Officer, said, "Second quarter results reflect continuing momentum in our licensing segment as retail sales of Yu-Gi-Oh!T products remain strong. Teenage Mutant Ninja TurtlesT toys are also performing well at retail, adding significantly to our licensing revenues."
Commenting on the FoxBox, 4Kids' four hours of programming on Saturday mornings on the Fox Network, Al Kahn said, "While FoxBox ratings have been below expectations, the FoxBox has created additional revenue opportunities for 4Kids in merchandise licensing, home video and music publishing. These additional revenue sources, such as the Teenage Mutant Ninja Turtles toy line, were one of the primary reasons for the lease of the FoxBox programming block. We will be launching a new FoxBox season on September 6 with exciting new shows, including Shaman King, Sonic XT and Funky Cops as well as new episodes of returning shows Teenage Mutant Ninja Turtles, Kirby: Right Back At Ya!T and Ultimate Muscle: The Kinnikuman LegacyT," said Kahn.
"We had a strong second quarter and are very pleased with the performance of our properties. Yu-Gi-Oh! and Pokémon® continue to be among the most highly rated kids shows on network television. While Yu-Gi-Oh! products continue to drive our licensing revenues, Teenage Mutant Ninja Turtles products have gained substantial momentum at retail since their introduction earlier this year. We also expect Pokémon licensed products to sell increased volumes at retail on the strength of the new Pokémon Ruby and Pokémon Sapphire video games, which introduced 130 new Pokémon characters during the first quarter," concluded Kahn.
