4Kids Entertainment Announces Record Revenues and Net Income for Fiscal Year 2000; Net Cash Rises to Record $91.9 Million, New Contracts, Properties Slated for 2001.Business & Entertainment Editors NEW YORK--(BUSINESS WIRE)--March 29, 2001 4 Kids 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. ), a fully integrated global licensing and children's entertainment company, today announced record revenues, net income and earnings per share for the full year ended December 31, 2000. For the 2000 fiscal year, 4Kids Entertainment reported revenues of $87,997,468, an increase of 45% percent from revenues of $60,482,369 reported for the same period a year ago. Net income for the year rose to $38,772,580, or $2.96 per diluted di·lute tr.v. di·lut·ed, di·lut·ing, di·lutes 1. To make thinner or less concentrated by adding a liquid such as water. 2. To lessen the force, strength, purity, or brilliance of, especially by admixture. share, compared with $23,638,426, or $1.91 per diluted share, reported in 1999. Revenues for the fourth quarter ended December 31, 2000 were $19,159,123 compared with record quarterly revenues of $34,890,117 reported in the same period a year ago. Net income for the fourth quarter of 2000 was $8,542,370 or $0.65 per diluted share, compared with record net income of $14,135,520 or $1.08 per diluted share, reported for the fourth quarter of 1999. At December 31, 2000 the Company's cash position, excluding royalties due to licensors, reached a record $91.9 million, or approximately $7.02 per diluted share. "2000 was a defining year for our organization," said Al Kahn Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . "Following Pokemon's peak performance during Christmas of 1999, our production, distribution and merchandise licensing divisions continued to fuel the popularity of the property, sustaining its solid U.S. sales while expanding its presence in all major European markets. The extraordinary success of Pokemon in 2000, showcased 4Kids unique skill set and helped us to establish our position as a global children's entertainment company," added Al Kahn. The Company noted that Pokemon's success in 2000 was also driven by the introduction of several popular video games See video game console. by Nintendo, the launch of two successful movies in the U.S. and Europe, the introduction of 52 new television episodes and 100 new characters. "We are delighted with the Company's strong revenues and earnings performance in 2000. These record results reflect our important role in the beginning of this transition of Pokemon from a worldwide `fad' to a worldwide brand," stated Kahn. "Our fourth quarter revenues and earnings reflect this transition, particularly when compared to the performance of Pokemon in the Christmas quarter of last year. This reduced revenue is in-line with our expectations and points to a more stable, but diminished worldwide market for Pokemon-licensed merchandise focused on key product categories. Pokemon is the most successful children's entertainment property in history. It continues to be among the top rated kids show on most major children's television networks throughout the world and we expect it to continue generating substantial, but reduced revenues and earnings for 4Kids," said Kahn. Mr. Kahn noted that 4Kids expects that the visibility for Pokemon will remain high with Warner Bros BROS Brothers BROS Benefits and Retirement Operations Section (King County, Washington) BROS Barnes and Richmond Operatic Society (London, UK) . upcoming release of Pokemon The Movie 3: in early April, as well as new video game titles by Nintendo and new television episodes broadcast on Kids' WB Kids' WB is the Saturday morning cartoon block of The CW Television Network's weekend programming. The CW is the result of The WB merge with UPN in 2006. History Early years !. "As we manage the Pokemon property and build upon its enduring and appealing attributes," said Kahn, "we continue to expand our property base and enhance our overall potential for new revenue streams. Currently, our new properties line-up includes: Cubix! Robots, for Everyone which is set to air on Kids' WB! for the Fall 2001 season, Tama and Friends, which is syndicated for television in the fall of 2001 and Ultraman Tiga Ultraman Tiga (ウルトラマンティガ and Kinnikuman: The ultimate muscle!, two very popular Japanese properties." The Company added that it is working closely with its partners to solidify so·lid·i·fy v. so·lid·i·fied, so·lid·i·fy·ing, so·lid·i·fies v.tr. 1. To make solid, compact, or hard. 2. To make strong or united. v.intr. promotional plans for Cubix! Robots For Everyone, a highly-anticipated television property using CGI CGI in full Common Gateway Interface. Specification by which a Web server passes data between itself and an application program. Typically, a Web user will make a request of the Web server, which in turn passes the request to a CGI application program. technology. "We are excited about the buzz Cubix! has garnered since we aired the first episode to an audience of adults only in NYC NYC abbr. New York City NYC New York City earlier this year. It is important that we take special care to introduce this property to children in a fun and engaging way," said Mr. Kahn. "We expect to see these new properties impact our revenues as early as the fourth quarter of 2001. Until then, we will continue to seek out new properties, grow our free cash position and extend the Pokemon brand." 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 Fourth Quarter and Year-Ended
December 31, 2000 and 1999
(Unaudited)
For the For the
Fourth Quarter Ended 2000 Year-Ended 2000
------------------------- -------------------------
December 31, December 31, December 31, December 31,
2000 1999 2000 1999
------------ ------------ ------------ ------------
NET REVENUES $19,159,123 $34,890,117 $87,997,468 $60,482,369
EXPENSES $9,160,606 $10,834,463 $30,105,320 $20,370,740
NET INCOME $8,542,370 $14,135,520 $38,772,580 $23,638,426
PER SHARE AMOUNTS
Basic earnings
per share $0.71 $1.21 $3.25 $2.20
Diluted earnings
per share $0.65 $1.08 $2.96 $1.91
Weighted average
common shares
outstanding -
basic 12,073,494 11,701,044 11,947,217 10,741,082
Weighted average
common shares
outstanding -
diluted 13,091,838 13,107,634 13,092,653 12,366,349
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