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MARVEL ANNOUNCES 98 PERCENT GAIN IN 1ST QUARTER NET INCOME

 NEW YORK, April 12 /PRNewswire/ -- Marvel Entertainment Group, Inc. (NYSE: MRV) announced that for the first quarter ended March 31, 1993, net income increased 98 percent to $9.8 million or $0.20 per share compared to $5.0 million or $0.10 per share in the year-ago quarter. Net revenues increased 224 percent to $99.9 million compared to $30.8 million. Results of operations include Fleer Corp., which was acquired Sept. 1, 1992.
 Terry Stewart, Marvel's President, said that all operations -- including comic book publishing, character-based consumer products licensing, advertising and sports picture cards -- contributed to net revenue growth. On a stand alone basis, Marvel publishing, licensing and advertising net revenues increased approximately 31 percent for the quarter. On a pro forma basis, Fleer sports picture cards showed 11 percent growth for the quarter.
 Marvel Entertainment Group, Inc. is a leading youth entertainment company. Operations and products include: Marvel Comics, the largest comic book publisher in North America; Marvel character-based consumer products licensing; Fleer, a leading marketer of sports picture cards; and Dubble Bubble confectionery products.
 MARVEL ENTERTAINMENT GROUP, INC.
 Consolidated Statements of Income
 (In thousands, except per share data, unaudited)
 Three months ended March 31, 1993 1992 (B)
 Net revenues $99,884 $30,786
 Cost of sales 51,593 14,542
 Gross profit 48,291 16,244
 Selling, general & administrative
 expenses 23,086 6,722
 Interest expense, net 4,455 219
 Amortization of goodwill,
 intangibles & deferred
 charges 2,478 504
 Income before tax provision 18,272 8,799
 Tax provision 8,424 3,829
 Net income $9,848 $4,970
 Earnings Per Share $0.20 $0.10
 Weighted average
 shares outstanding (A) 50,184 49,124
 (A) Adjusted for the two-for-one stock split in December, 1992.
 (B) Certain prior year amounts have been reclassified to conform with the current year presentation.
 -0- 4/12/93
 /CONTACT: Pam Rutt, Marvel Corporate & Product Public Relations of Marvel Entertainment Group, Inc., 212-576-8535, or Gary Fishman of The Hudson Stone Group for Marvel Investor & Financial Relations, 212-983-8550/
 (MRV)


CO: Marvel Entertainment Group ST: New York IN: ENT SU: ERN

LD -- NY007 -- 4612 04/12/93 08:12 EDT
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Publication:PR Newswire
Date:Apr 12, 1993
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