4Kids Entertainment Reports First Quarter Results.NEW YORK--(BUSINESS WIRE)--May 15, 1998--4Kids Entertainment, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :KIDE) today reported its results of operations for the first quarter, which ended March 31, 1998. First quarter net revenues increased 182% to $2,403,378, compared to $852,131 reported for the same period last year. For the quarter, the Company reported net income of $278,303 or .08 cents per share Cents per share The amount of a mutual fund's dividend or capital gains distributions that a shareholder will receive for each share owned. on a fully diluted basis, compared to last year's first quarter loss of $580,393, or 19 cents per share. "As previously announced, we continue to expect the Company's earnings to exceed $0.45 per share for the full year." 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. , "Our results for the first quarter were positively impacted by a significant increase in licensing revenues. Specifically, the Company's broad-based licensing program with World Championship Wrestling For the Australian professional wrestling promotion, see World Championship Wrestling (Australia). For the poet, see William Carlos Williams. World Championship Wrestling (WCW) was an American professional wrestling promotion which existed from 1988 to 2001. (WCW WCW World Championship Wrestling WCW Wellesley Centers for Women WCW West Coast Watchers ), a division of Turner Sports and Time Warner, continues to escalate with the signing in the first quarter of Electronic Arts as the video game licensee. This follows the signing of Toy Biz as the master toy licensee in fourth quarter 1997." Both licensees will begin shipping product in 1999. WCW programming reaches over 32 million viewers per week and is broadcast internationally in 85 countries. Additionally, the Company continues to expand its licensing program for the revolutionary Nintendo N64 video game system and its game characters, which include the highly popular Super Mario Brothers, Donkey Kong Country For the television series, see . Donkey Kong Country, released in Japan as Super Donkey Kong ( and soon-to-be-released Zelda. Also, anticipation for the PokJmon property continues to heighten with the approach of the U.S. release of the PokJmon Game Boy cartridge and animated series. PokJmon is one of Nintendo's best selling Game Boy games in Japan and will be released to the U.S. market in the fall. Kahn also commented, "The tremendous power that is being generated this fall by the Nintendo release of the Pokemon Game Boy game and the widely popular Pokemon animated series offers extensive licensing opportunities for the Company into the future." Further, the Company's Summit Media subsidiary continues to rank among the largest media buyers for the U.S. children's market. The Company currently distributes 6 hours of nationally syndicated television programming weekly, including MR. MEN and Little Miss Mr Men and Little Miss was a British television show that aired in the United Kingdom but was produced by Dargaud-Marina, a French company. In the United Kingdom, it originally aired from 1995 to 1997, and it aired again on Nick Jr. from 1999 to 2001. , WMAC Masters, Vanpires, Sony's Enchanted en·chant tr.v. en·chant·ed, en·chant·ing, en·chants 1. To cast a spell over; bewitch. 2. To attract and delight; entrance. See Synonyms at charm. Tales, Mark's Wired World, The New Adventures of Voltron and Oscar's Orchestra. The Company will also be distributing new animated programs - PokJmon, Robocop and War Planets - beginning fall 1998. Headquartered in New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , 4Kids Entertainment, Inc. is a vertically integrated entertainment company whose wholly-owned subsidiaries include: 4Kids Productions, which produces programming for television; Summit Media, which distributes television programming for both the domestic and international markets and provides media buying and planning services; and Leisure Concepts, Inc., a leader in domestic and international merchandise licensing and product development. -0- This press release contains forward-looking statements. Due to the fact that the Company faces competition from toy companies, motion picture studios and other licensing companies, and the uncertainty of public's response to the Company's properties, actual results or outcomes may differ materially from any such forward looking statements. -0-
4Kids Entertainment, Inc.
Consolidated Statement of Operations
For the first quarter ended March 31, 1998 and 1997
FIRST QUARTER ENDED MARCH 31,
1998 1997
REVENUES $ 2,403,378 $ 852,131
EXPENSES $ 1,991,533 $ 1,902,507
NET INCOME LOSS $ 278,303 $ (580,393)
PER SHARE AMOUNTS
BASIC EARNINGS (LOSS)
PER SHARE $ .09 $ (.19)
DILUTED EARNINGS (LOSS)
PER SHARE $ .08 $ (.19)
CONTACT: 4Kids Entertainment, Inc., New York Company: Joseph P. Garrity, Executive Vice President & CFO See Chief Financial Officer. , 212/758-7666 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 : Catherine Wilkinson, Director of Public Relations, 212/758-7666 |
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