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NEWS: 4Kids 2004 Financials




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Joe Mello



Joined: 31 May 2004
Posts: 2260
Location: Online Terminal
PostPosted: Fri Mar 18, 2005 1:00 am Reply with quote
The revenue's up and the income is down
The people ride in a hole in the ground
4Kids 4Kids *clears throat*

Okay, couple questions. 1) How is this possible, 2) Is this good or bad, and 3) Should we care?
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PlayBoi



Joined: 03 Aug 2002
Posts: 119
Location: Cali
PostPosted: Fri Mar 18, 2005 1:54 am Reply with quote
Simple answer, they spent more.

2003 they spent - $87.3 million
2004 they spent - $90.6 million

So even though they made $1.2 million more in 2004, that's offset by the $3.3 million more they spent. Given them a net income loss of $2.1 million compared to 2003.
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biliano



Joined: 24 Jan 2005
Posts: 956
Location: Cleveland, OH
PostPosted: Fri Mar 18, 2005 9:49 am Reply with quote
For those of you that read the 4Kids financial report and don't know what the Sarbanes-Oxley (SOX) Act of 2002 is, I did some searching and here is a summary of the act. Section 404 of the Act states:

Section 404 of the SOX Act wrote:
Requires each annual report of an issuer to contain an "internal control report", which shall:

(1) state the responsibility of management for establishing and maintaining an adequate internal control structure and procedures for financial reporting; and

(2) contain an assessment, as of the end of the issuer's fiscal year, of the effectiveness of the internal control structure and procedures of the issuer for financial reporting.

Each issuer's auditor shall attest to, and report on, the assessment made by the management of the issuer. An attestation made under this section shall be in accordance with standards for attestation engagements issued or adopted by the Board. An attestation engagement shall not be the subject of a separate engagement.

The language in the report of the Committee which accompanies the bill to explain the legislative intent states, "--- the Committee does not intend that the auditor's evaluation be the subject of a separate engagement or the basis for increased charges or fees."

Directs the SEC to require each issuer to disclose whether it has adopted a code of ethics for its senior financial officers and the contents of that code.

Directs the SEC to revise its regulations concerning prompt disclosure on Form 8-K to require immediate disclosure "of any change in, or waiver of," an issuer's code of ethics.


This act was implemented in wake of the Enron crisis in 2002.

Joe Mello wrote:
3) Should we care?


If you're a stockholder, yes. StockScouter rated 4Kids Entertainment's stock a 4 out of 10. According to this report, they expect 4Kids Entertainment's stock to underperform the market over the next six months with average risk.
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Necros Antiquor



Joined: 10 Nov 2004
Posts: 571
Location: Funny in a car crash sort of way
PostPosted: Sun Mar 20, 2005 10:40 am Reply with quote
Joe Mello wrote:
The revenue's up and the income is down
The people ride in a hole in the ground
4Kids 4Kids *clears throat*

Ah ha, I just got that! New York New York. Jeez, I knew I heard that somewhere, and it took me 10 minutes before I knew it.
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