Marvel reports record year

Firm reports results for the fourth quarter and full year for 2008 with better-than-expected licensing sales.
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Marvel Entertainment has today reported record net sales, net income and earnings per share for its full-year 2008, with its film slate driving the performance.

For the period, Marvel reported net sales of $676.2 million and net income of $205.5 million - this is compared to net sales of $485.8 million and net income of $139.8 million in 2007.

The growth mainly reflects the contribution made by Marvel Studios, which released its first two films - Iron Man and The Incredible Hulk - last summer.

Net sales in Q4, meanwhile, stood at $224.3 million, while net income was $63.0 million, up from $109.3 million and $27.6 million for Q4 2007.

However, in the licensing segment - although net sales were better than expected due to stronger anticipated revenue from international licensing and Marvel's Spider-man film merchandising joint venture - total revenue slipped slightly.

Licensing segment operating income declined to $36.9 million in Q4 2008 from $47.5 million in Q4 2007, while for the full-year the total licensing segment stood at $292.8 million, down from $343.6 million in 2007.

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