MARVEL ENTERTAINMENT GROUP ANNOUNCES FIRST QUARTER RESULTS
MARVEL ENTERTAINMENT GROUP ANNOUNCES FIRST QUARTER RESULTS NEW YORK, April 20 /PRNewswire/ -- Marvel Entertainment Group, Inc.
(NYSE: MRV) announced today results of operations for the quarter ended March 31, 1992.
Net Income increased 222 percent to $5.0 million, or $0.20 per share, compared to $1.6 million, or $0.06 per share for the corresponding period in 1991, based on approximately 24,562,000 and 24,000,000 weighted average number of common and common equivalent shares outstanding during the respective periods. Net revenues increased 62 percent to $30.8 million compared to $19.0 million for the corresponding period in 1991. Marvel Entertainment Group, Inc. 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 shar data) (Unaudited) Three Months Ended March 31, 1992 1991 Net Revenues $ 30.8 $ 19.0 Income before income taxes $ 8.8 $ 2.9 Provision for income taxes $ 3.8 $ 1.3 Net Income $ 5.0 $ 1.6 Earnings Per Share $ 0.20 $ 0.06 Weighted average number of Common and Common Equivalent Shares Outstanding (in Thousands) 24,562(A) 24,000(A) (A) -- 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 and the two-for-one stock split in March, 1992. -0- 4/17/92 /CONTACT: Terry Stewart, President and COO, 212-576-8549, James T. Wilson, EVP and CFO, 212-576-8572, or William Bevins, Jr., CEO, 213-444-8680, all of Marvel Entertainment Group, or Gary Fishman or Bob Bogard of Hudson Stone Group, 212-226-8550, for Marvel/ (MRV) CO: Marvel Entertainment Group, Inc. ST: New York IN: PUB SU: ERN KD -- NY003 -- 9846 04/20/92 08:04 EDT
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|Date:||Apr 20, 1992|
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