4Kids 2nd Quarter Statement

posted on by Jonathan Mays
Net income of $3.6 million, net revenue up 185% from second quarter 2002

4Kids Entertainment, Inc. has released a net revenue report for the second quarter of 2003. For the period ended June 30, 2003, net revenues climbed 185% to $23.4 million from $8.2 million in the second quarter of 2002. Net income for the quarter was $3.6 million, compared to net income of $1.2 million in the year earlier, an increase of 200%.

4Kids Chairman and Chief Executive Officer Al Kahn credits retail sales of Yu-Gi-Oh! products and the Teenage Mutant Ninja Turtles toy line for "adding significantly to [4Kids'] licensing revenues.” Although FoxBox ratings have been "below expectations," Kahn says the block "has created additional revenue opportunities for 4Kids in merchandise licensing, home video, and music publishing."

"We had a strong second quarter and are very pleased with the performance of our properties. Yu-Gi-Oh! and Pokémon continue to be among the most highly rated kids shows on network television. While Yu-Gi-Oh! products continue to drive our licensing revenues, Teenage Mutant Ninja Turtles products have gained substantial momentum at retail since their introduction earlier this year. We also expect Pokémon licensed products to sell increased volumes at retail on the strength of the new Pokémon Ruby and Pokémon Sapphire video games, which introduced 130 new Pokémon characters during the first quarter," said Kahn.

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