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MARVEL ANNOUNCES MORE THAN 50 PERCENT GAIN IN THIRD QUARTER NET INCOME

MARVEL ANNOUNCES MORE THAN 50 PERCENT GAIN IN THIRD QUARTER NET INCOME
 NEW YORK, Oct. 26 /PRNewswire/ -- Marvel Entertainment Group, Inc. (NYSE: MRV) announced that for the third quarter ended Sept. 30, 1992, net income increased more than 50 percent to $10.0 million or $0.41 per share and net revenues increased 70 percent to $65.1 million. For the nine months ended Sept. 30, 1992, net income increased 108 percent to $22.3 million or $0.91 per share and net revenues increased 66 percent to $133.4 million.
 Effective Sept. 1, 1992, Marvel acquired Fleer Corp. Accordingly, results of operations include those of Fleer Corp. from the date of the acquisition.
 For the quarter ended Sept. 30, 1992, Fleer Corp. contributed net revenues of $26.0 million and net income of $1.7 million or $0.07 per share.
 Terry Stewart, Marvel president, said margins improved due to higher average comic book selling prices, circulation growth of on-going titles, and increased revenues from licensing and advertising. "We are very gratified by the performance this quarter," Mr. Stewart said. "Last year's third quarter saw the publication by Marvel of the two largest-selling, individual comic books in history. Those events set a company and industry record for us to match, and I am proud to say that we exceeded it."
 The company said Fleer's sports card business continued its strong growth during the quarter ended Sept. 30, 1992, due to the on-going success of Fleer Ultra Baseball premium cards, the September introduction of Fleer 1992 Basketball basic cards, and higher average unit selling prices. For the nine months, sports card revenues were up approximately 20 percent.
 During the fourth quarter Marvel Comics launched a new series of monthly titles starring Marvel heroes and villains in the year 2099 and new titles based on Fox-TV's animated show starring Marvel's X-Men, which premiers Oct. 31, and the Nickelodeon cable channel's animated "Ren and Stimpy" show. Meanwhile, Fleer plans to continue the line extension of its popular Ultra brand premium cards with the introduction of Fleer Ultra Hockey and Ultra Basketball cards.
 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 licensing; Fleer Corp., 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 Nine months ended
 Sept. 30, Sept. 30,
 1992 1991 1992 1991
 Net revenues $65,102 $38,256 $133,386 $80,294
 Cost of sales 32,094 18,674 63,296 40,438
 Gross profit 33,008 19,582 70,090 39,856
 Selling, general &
 administrative
 expenses 12,468 5,657 26,688 14,840
 Interest expense,
 net & other 1,831 658 2,236 3,172
 Amortization of goodwill,
 intangibles & deferred
 charges 1,146 541 2,154 1,624
 Income before tax provision
 & extraordinary item 17,563 12,726 39,012 20,220
 Tax provision 7,515 5,633 16,757 9,097
 Income before
 extraordinary item 10,048 7,093 22,255 11,123
 Extraordinary
 item, net (A) -- 416 -- 416
 Net income $10,048 $6,677 $22,255 $10,707
 Earnings Per Share:
 Income before
 extraordinary item 0.41 0.30 0.91 0.46
 Extraordinary item (A) -- (0.02) -- (0.02)
 Net income $0.41 $0.28 $0.91 $0.44
 Weighted average
 shares outstanding (B) 24,669 24,274 24,584 24,092
 (A) Results for both 1991 periods include a $416,000 extraordinary item, net of related income taxes, due to the early extinguishment of debt.
 (B) Assumes 24 million shares outstanding during each of the periods prior to Marvel's issuance of shares in connection with the initial public offering in July 1991 as adjusted for the two-for-one stock split in March 1992.
 -0- 10/26/92
 /CONTACT: James T. Conroy for Marvel Entertainment Group, Inc., 212-572-5980/
 (MRV) CO: Marvel Entertainment Group, Inc. ST: New York IN: PUB SU: ERN


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Date:Oct 26, 1992
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