Navarre Q4 Report: Profits Up 24.9%

Funimation parent company Navarre reported a 2.1% decrease in sales in the final quarter of 2006 compared to the same quarter in 2005 but a gross profit increase of 24.9%. The increased profit was anchored by Funimation's strong performance in Navarre's Publishing Division. The report cited new releases Black Cat, Basilisk, Dragon Ball Z movie packs, Fullmetal Panic, and Trinity Blood, as well as Funimation's increased television exposure.

Navarre reported overall net sales of $210.2 million and operating income of $8.7 million, a return to the black after retailer Musicland's bankruptcy pulled Navarre down $16.8 million to a loss of $9.3 million in third quarter 2006.