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News: Marvel Releases Second Quarter Report
posted July 29, 2004
 

July 29 -- Marvel Enterprises released its second quarter financials for the period ending June 30, leading a lot of interested parties to scour the results at this interesting juncture in the company's history. Solidly established as a content provider for summer movie franchises, at least for now, Marvel is also several months into the Dan Buckley era at the company, and face a lingering hangover on the financial end from the cashing out performed by company executives at exactly that moment the stock should have been surging upwards.

What interested parties found is a company that reported lower quarterly profits from 2003, but primarily due to lower margin toy sales and a higher tax rate. The profit went from $32.7 million or 28 cents a share in 2003 to $29.1 million and 25 cents per share in 2004. Marvel's publishing net sales rose in comparison to 2003 due to the company publishing more titles (65 a month versus 50 a month) and those titles increasing their average circulations from 53,800 copis to 64,000. The report also gave a breakdown of expected future film projects, with Elektra (Rob Bowman directing Jennifer Garner), Fantastic Four (Tim Story directing Michael Chiklis and Jessica Alba), Iron Man (no one firmly attached) and Luke Cage (rumored to be John Singleton directing Tyrese) making up the 2005 potential release schedule along with the finished and much maligned Man-Thing movie.