shows continued increase of revenue from last year. 4Kids on Friday announced net revenues for the third quarter climbed 109% to $25.3 million from $12.1 million in the same period last year. Actual profit for the quarter was $2.9 million, compared to net income of $2.0 million, an increase of 46%.
For the first nine months of 2003 net revenues rose 156% to $69.7 million from $27.2 million in the same period last year. Actual profit for the nine-month period was $9.5 million, or $0.68 per diluted share, compared to net income of $4.7 million, in the same period a year earlier, an increase of 100%.
Al Kahn, Chairman and Chief Executive Officer of 4Kids Entertainment
, said, "Third quarter results reflect the continued success of our strategy to create many different revenue streams based upon a diversified property portfolio. Yu-Gi-Oh!
(TM) and Pokémon
(R) continue to be among the top ranked children's programs on the KIDS' WB
network. Strong retail sales of Yu-Gi-Oh!
related products and licensed merchandise were one of the primary drivers of revenues for our licensing division. 4Kids Home Video shipped its two-millionth Yu-Gi-Oh!
title in September."
Mr Kahn also had this to say about Fox Box
, 4Kids' four hours of programming on Saturday mornings on the Fox Network
, Kahn said, "We launched the 2003-2004 Fox Box
season on September 6 with exciting new shows, including Shaman King
and Sonic X
(TM) as well as new episodes of returning shows Teenage Mutant Ninja Turtles
, Kirby: Right Back At Ya!
(TM) and Ultimate Muscle: The Kinnikuman Legacy
(TM). Season to date, this new line-up is rating higher than the comparable period last season."
"With Fox Box
as our content distribution platform, 4Kids is well positioned to launch new properties. We also have the financial strength to support new and existing licensing programs," concluded Kahn.