Marvel's Q3 sales dip - ToyNews

Marvel's Q3 sales dip

No film activity sees net sales dip over same period a year ago.
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Marvel Entertainment revealed lower net sales for its third quarter (ending September 30th 2009) - reflecting a lower level of film activity and related licensed merchandise.

The company reported net sales for the period of $105.7 million and net income of $20.4 million. This is compared to net sales of $182.5 million and net income of $50.6 million in Q3 2008.

The anticipated year-over-year decline in net sales and net income reflects $65 million in lower film revenues in Q3 2009 compared to the prior year period, as well as lower licensing segment net sales related to last year's Iron Man and The Incredible Hulk films, plus the Spider-man merchandising joint venture.

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