Printer Friendly

MARVEL ENTERTAINMENT GROUP ANNOUNCES 1991 FOURTH QUARTER AND YEAR END RESULTS

 MARVEL ENTERTAINMENT GROUP ANNOUNCES
 1991 FOURTH QUARTER AND YEAR END RESULTS
 NEW YORK, Feb. 12 /PRNewswire/ -- Marvel Entertainment Group, Inc. (NYSE: MRV) announced today results of operations for the fourth quarter and the year ended Dec. 31, 1991.
 For the year ended Dec. 31, 1991, income before the extraordinary item was $16.5 million or $1.36 per share as compared with $5.4 million or $.45 per share for the corresponding period in 1990. Net income for the fourth quarter and year of 1991 was $5.4 million or $.44 per share and $16.1 million or $1.33 per share, respectively.
 Net revenues for the fourth quarter increased to $34.8 million in 1991 from $21.6 million in 1990 and for the year increased to $115.1 million in 1991 from $81.1 million in 1990. The yearly results generally reflect higher volume throughout Marvel's line of regular titles and the increasing popularity of Super Hero themed merchandise.
 The company is the largest creator of comic books and other illustrated action and adventure material in North America.
 MARVEL ENTERTAINMENT GROUP, INC.
 Summarized Financial Information
 (Dollars in millions except per share data - Unaudited)
 Periods ended Three Months Year
 Dec. 31 1991 1990 1991 1990
 Net revenues $34.8 $21.6 $115.1 $81.1
 Income before income taxes
 and extraordinary item $9.7 $3.0 $29.9 $10.6
 Provision for income taxes 4.3 1.6 13.4 5.2
 Income before extraordinary item 5.4 1.4 16.5 5.4
 Extraord. item, net of taxes(A) -- -- (0.4) --
 Net income $5.4 $1.4 $16.1 $5.4
 Earnings per share:
 Income before extraord. item $0.44 $0.12 $1.36 $0.45
 Extraordinary item, net of taxes -- -- (0.03) --
 Net income $0.44 $0.12 $1.33 $0.45
 Weighted average number of common
 and common equivalent shares
 outstanding (000's) (B) 12,224 12,000 12,088 12,000
 (A) Loss on early extinguishment of debt, net of $.3 million tax effect.
 (B) Assumes 12 million shares outstanding during each of the periods


prior to Marvel's issuance of shares in connection with an initial public offering in July 1991. Does not reflect the two-for-one stock split announced Jan. 21, 1992 for shareholders of record Feb. 20, 1992.
 -0- 2/12/92
 /CONTACT: Gary Fishman or Bob Bogard of Hudson Stone Group, 212-226-8550/
 (MRV) CO: Marvel Entertainment Group, Inc. ST: New York IN: PUB SU: ERN


SM -- NY088 -- 9411 02/12/92 16:37 EST
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Feb 12, 1992
Words:420
Previous Article:NYPA CHAIRMAN FLYNN URGES SUPPORT OF MINORITY-OWNED BUSINESSES
Next Article:PITTSBURGH INDEX DROPS IN DECEMBER
Topics:


Related Articles
MARVEL FIRST QUARTER REVENUES EXPECTED TO BE UP 47 PERCENT; NET INCOME EXPECTED TO BE UP MORE THAN 156 PERCENT
MARVEL PUBLISHES FIRST ANNUAL REPORT AS COMIC BOOK
MARVEL ANNOUNCES MORE THAN 50 PERCENT GAIN IN THIRD QUARTER NET INCOME
MARVEL ANNOUNCES 93 PERCENT GAIN IN 4TH QUARTER NET INCOME
MARVEL ANNOUNCES 98 PERCENT GAIN IN 1ST QUARTER NET INCOME
MARVEL ANNOUNCES 104 PERCENT GAIN IN 2ND QUARTER NET INCOME
MARVEL ANNOUNCES RECORD 1993 NET REVENUES, NET INCOME
MARVEL REVIEWS 1994 REVENUE & PROFIT GROWTH
MARVEL ENTERTAINMENT FIRST QUARTER NET INCOME UP 23%
MARVEL EPS UP APPROX. 10% TO $0.60 PER SHARE

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters