News
4Kids Announces Second Quarter Results

posted on 2005-08-11 14:57 EDT
Revenue and Income Decrease

4Kids announced its financial results for the period ending on June 30 Monday.

The company reported a decline in revenue from home video sales and international television sales.

Decreased revenue from Yu-Gi-Oh! and Kirby merchandising was offset by increased revenue from Shaman King and other properties.

In total, net revenue for the first half of 2005 was $39.3 million compared to $44.6 million in the same period last year. Net income was $2.6 million, down from $5.2 million in the first half of 2004.

As a result of the report several investment related firms downgraded the company's estimates and target price. Raymond James downgraded the company from "strong buy" to "market perform," Ferris Baker Watts reduced the target price for the second time this year, from $27 to $24, and Jefferies & Co downgraded 4Kids from "hold" to "underperform."

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