Marvel reports strong Q3 thanks to Iron Man

Net sales for period up to $182.5 million, while net income hits $50.6 million.

Author:: Katie Roberts
Publish date:: Nov 5, 2008

Marvel Entertainment has reported increased net sales for its third quarter, thanks to earlier than expected recognition of $60 million in film revenues associated with the box office performance of Iron Man.

However, despite this good news, licensing segment net sales declined to $58.1 million in Q3 compared to $82.2 million in Q3 2007, reflecting the decreases from Spider-man LP, Marvel's Spider-man feature film merchandising joint venture and $16.8 million in the 2007 period from unusually high audit settlements recorded predominantly in studio licensing.

To read the full story on our sister site, licensing.biz, click here.

No film activity sees net sales dip over same period a year ago.

Firm reports results for the fourth quarter and full year for 2008 with better-than-expected licensing sales.

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Firm is "incredibly optimistic" about the future with focus on brands such as The Avengers.

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Operating income for the consumer products division was $313m for the quarter.

Sales fall five per cent for the period to $332.4m, from $348.7m in 2010.

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Interim management statement for October 1st to present reports strong sales.

Firm files law suit against MGA Entertainment claiming it breached terms of licensing agreements.

Analysts expect net income to rise nearly 18 percent from this time last year, to $117.5 million.

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