4Kids Entertainment Announces First Quarter Results.Business Editors NEW YORK--(BUSINESS WIRE)--May 15, 2001 4Kids Entertainment, Inc. (NYSE NYSE See: New York Stock Exchange : KDE (K Desktop Environment) A GUI-based user interface primarily for Unix and Linux machines, but also available for Windows and Mac. The source code is freely distributed and is maintained by developers around the world. ) today announced results for the first quarter ended March 31, 2001. For the quarter ended March 31, 2001, net revenues totaled $12,263,708, compared with $20,699,519, reported for the first quarter ended March 31, 2000. Net income for the quarter was $5,289,493, or $0.40 per common share diluted, compared with net income of $9,329,999, or $0.71 per common share diluted for the first quarter of 2000. "Results for the first quarter were in-line with our expectations. Reduced merchandise licensing revenues for the quarter reflect Pokemon's continued transition to a more stable worldwide brand. The property continues to demonstrate its popularity in the world market and maintains its position as the number one children's network television program. As a result, we are optimistic op·ti·mist n. 1. One who usually expects a favorable outcome. 2. A believer in philosophical optimism. op that Pokemon will continue to make important contributions to our results in the foreseeable future," said Al Kahn, Chief Executive Officer of 4Kids Entertainment." `Pokemon 3,' the latest film, was released in April, extending the property's visibility and storyline Noun 1. storyline - the plot of a book or play or film plot line plot - the story that is told in a novel or play or movie etc.; "the characters were well drawn but the plot was banal" throughout the U.S. children's market and further supporting our licensing efforts. The film is slated to be released in Europe during the second quarter of 2001," added Kahn. The Company continues to expand its presence in the children's entertainment market through the acquisition of new property rights and the licensing of proprietary properties such Cubix: Robots for Everyone. "Our recent acquisition of the merchandising and television rights to the successful Japanese property YU-GI-OH! for the world outside Asia builds on our strategy of acquiring and developing content for the children's entertainment market. This property, together with Cubix, Cabbage Patch Kids Cabbage Patch Kids are a brand of doll created by Xavier Roberts in 1978. The original dolls were all cloth and were available at local craft shows, and later at Babyland General Hospital in Cleveland, Georgia. , Tama and Friends, Ultraman Tiga Ultraman Tiga (ウルトラマンティガ , Kinnikuman: The Ultimate Muscle and USHRA USHRA United States Hot Rod Association Monster Jam will create additional revenue streams for the Company, some of which will be recognized before the close of the fourth quarter of 2001." The Company added that it continues to negotiate licensing agreements for Cubix: Robots For Everyone!, as well as promotional programs to support the property's debut on Kid's WB! later this year. About 4Kids: Headquartered in New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. with international offices in London, 4Kids Entertainment, Inc. (NYSE: KDE) is a global provider of children's entertainment and merchandise licensing. 4Kids, through its wholly owned subsidiaries Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. , provides domestic and international merchandise licensing and product development, television, film, music and home video production and distribution, media buying and planning and website development. For further information, please visit the company's Web site at www.4kidsEnt.com This press release contains forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. . Due to the fact that the Company faces competition from toy companies, motion picture studios and other licensing companies, and the uncertainty of public response to the Company's properties, actual results or outcomes may differ materially from any such forward looking statements. This release and prior releases are available on the Company's Worldwide Web site at www.4KidsEnt.com. This release and prior releases are also available on the KCSA KCSA Krannert Center Student Association KCSA Kentucky Crushed Stone Association (Frankfort, KY) KCSA Kyiv City State Administration KCSA Kalamazoo Christian School Association KCSA Kentucky-Canadian Studies Association Public Relations public relations, activities and policies used to create public interest in a person, idea, product, institution, or business establishment. By its nature, public relations is devoted to serving particular interests by presenting them to the public in the most Worldwide Web site at www.kcsa.com
4Kids Entertainment, Inc.
Summary Financial Information
For the First Quarter Ended
March 31, 2001 and 2000
(Unaudited)
For the First Quarter Ended
March 31,
2001 2000
---- ----
Revenues $12,263,708 $20,699,519
Expenses $4,862,592 $5,518,727
Net Income $5,289,493 $9,329,999
Basic Earnings Per Share $0.44 $0.79
Diluted Earnings Per Share $0.40 $0.71
Weighted Common Shares Outstanding For:
Basic Earnings Per Share 12,080,493 11,857,755
Diluted Earnings Per Share 13,232,793 13,087,712
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