4Kids Entertainment Reports Third Quarter Results; Net Revenues Increase 109%, Net Income Rises 46%.Business Editors NEW YORK--(BUSINESS WIRE)--Nov. 13, 2003 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 net revenues for the third quarter ended September September: see month. 30, 2003 climbed 109% to $25.3 million from $12.1 million in the same period last year. Net income for the quarter was $2.9 million, or $0.20 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 to net income of $2.0 million, or $0.14 per diluted share, in the year-earlier period, an increase of 46%. For the nine months ended September 30, 2003, net revenues rose 156% to $69.7 million from $27.2 million in the same period last year. Net income for the nine-month period was $9.5 million, or $0.68 per diluted share, compared to net income of $4.7 million, or $0.35 per diluted share, in the same period a year earlier, an increase of 100%. Al Kahn Kahn , Louis Isadore 1901-1974. Estonian-born American architect whose bold monumental designs include the Yale University Art Gallery (1954) and the Kimbell Art Museum in Fort Worth, Texas (1972). Noun 1. , Chairman and Chief Executive Officer of 4Kids Entertainment, said, "Third quarter results reflect the continued success of our strategy to create many different revenue streams based upon a diversified diversified (di·verˑ·s property portfolio. Yu-Gi-Oh!(TM) and Pokemon(R) continue to be among the top ranked children's programs on the 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 ! network. Strong retail sales of Yu-Gi-Oh! related products and licensed merchandise were one of the primary drivers of revenues for our licensing division. 4Kids Home Video shipped its two-millionth Yu-Gi-Oh! title in September." "Teenage Mutant (programming) mutant - Microsoft's term for a mutex which is generally used in user mode but can also be used in kernel mode. According to this terminology a mutex is only used in kernel mode. ["Microsoft Windows NT Workstation Resource Kit"]. Ninja Turtles(TM) also continues to build momentum at retail. The Teenage Mutant Ninja Turtles toy line toy line n. Chiefly Southern U.S. The line used in a game of marbles. from Playmates(R) contributed significantly to our results for the third quarter. We also released the first Teenage Mutant Ninja Turtles home video title in the U.S. in September. The Teenage Mutant Ninja Turtles television series has been licensed for broadcast in many international markets, where there already is substantial interest in Turtles licenses. We also received contributions this quarter from licensing programs for Artlist Collection: The Dog(TM) and Nintendo(R) Classic(TM)." Commenting on the Fox Box, 4Kids' four hours of programming on Saturday Saturday: see week; Sabbath. mornings on the Fox Network, Kahn said, "We launched the 2003-2004 Fox Box season on September 6 with exciting new shows, including Shaman King Shaman King (シャーマンキング Shāman Kingu) is both an anime series and a manga series by Hiroyuki Takei. The manga has ended in Japan with 32 volumes in total. and Sonic X(TM) as well as new episodes of returning shows Teenage Mutant Ninja Turtles, Kirby Kirby is a common place name, surname, and given name. Other common uses include:
: Right Back At Ya!(TM) and Ultimate Muscle: The Kinnikuman This article is about the manga and anime franchise. For the title character, see Suguru Kinniku. Kinnikuman (キン肉マン Legacy(TM). Season to date, this new line-up line-up Noun 1. people or things assembled for a particular purpose: Christmas TV line-up 2. is rating higher than the comparable period last season." "We are continuing to work with our major licensees to prepare for the holiday season. Konami(R) has released new Yu-Gi-Oh! and Teenage Mutant Ninja Turtles video game titles. Mattel(R) will introduce new Yu-Gi-Oh! toys and Playmates will introduce new Teenage Mutant Ninja Turtles toys in the fourth quarter," commented Kahn. "With Fox Box as our content distribution platform, 4Kids is well positioned to launch new properties. We also have the financial strength to support new and existing licensing programs," concluded Kahn. About 4Kids Entertainment 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; television, film, music and home video production and distribution; media planning and buying; product development; and Web site development. For further information, visit the Company's Web site at www.4KidsEntertainment.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, television networks, 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.4KidsEntertainment.com You may register to receive 4Kids Entertainment's future press releases or to download To receive a file transmitted over a network. In any communications session, "download" means receive, and "upload" means send. The download/upload often implies a big/little scenario, in which data is being downloaded from the "big" server into the "little" user's computer. a complete Digital Investor Kit(TM) including press releases, regulatory filings and corporate materials by clicking on the "Digital Investor Kit(TM)" icon at www.kcsa.com.
4KIDS ENTERTAINMENT, INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEET HIGHLIGHTS
(In thousands of dollars)
----------------------------------------------------------------------
September December
30, 31,
2003 2002
--------------------
(Unaudited)
Cash and cash equivalents $63,491 $78,712
Investments 35,988 10,787
Working capital 124,284 114,298
Total assets 174,240 162,839
Total liabilities 28,599 30,168
Total stockholders' equity $145,641 $132,671
4KIDS ENTERTAINMENT, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF INCOME
(UNAUDITED)
(In thousands of dollars, except per share data)
Three Months Ended Nine Months Ended
September September September September
30, 30, 30, 30,
2003 2002 2003 2002
--------------------------------------------
NET REVENUES $25,334 $12,099 $69,681 $27,238
COSTS AND EXPENSES:
Selling, general and
administrative 8,579 6,842 23,996 16,328
Production service costs 2,574 327 6,556 804
Amortization of
television and film
costs and Fox broadcast
fee 9,700 1,919 24,204 3,301
--------------------------------------------
Total costs and
expenses 20,853 9,088 54,756 20,433
--------------------------------------------
INCOME FROM OPERATIONS 4,481 3,011 14,925 6,805
INTEREST INCOME 252 388 835 1,180
--------------------------------------------
INCOME BEFORE INCOME TAX
PROVISION 4,733 3,399 15,760 7,985
INCOME TAX PROVISION 1,866 1,436 6,278 3,241
--------------------------------------------
NET INCOME $2,867 $1,963 $9,482 $4,744
============================================
PER SHARE AMOUNTS:
Basic earnings per
common share $0.22 $0.16 $0.72 $0.38
============================================
Diluted earnings per
common share $0.20 $0.14 $0.68 $0.35
============================================
Weighted average common
shares
outstanding - basic 13,247,459 12,597,355 13,174,119 12,588,162
============================================
Weighted average common
shares
outstanding -
diluted 14,169,729 13,678,026 14,018,995 13,656,787
============================================
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