Depending on one's viewpoint, Marvel Entertainment had either a dreadful second quarter or an unexpectedly strong one. Reuters sounded a positive note, noting that the company "posted a quarterly profit that beat market estimates as it benefited from DVD and pay TV sales of its blockbuster self-produced movie Iron Man sending its shares to an all-time high." On the other hand, the Los Angeles Times headlined "Marvel Revenue and Net Income Fall With No New Movies." Home Media magazine observed that while most studios have been reporting that they have been hard hit by a plunge in DVD sales, such was not the case with Marvel. It noted that in a conference call with investors, Marvel CFO Ken West commented, "Despite the economic news we hear about the DVD market crumbling a little bit, we have had excellent sellthrough, ahead of our plans." For the quarter, Marvel posted income of $29 million on revenue of $116 million. For the comparable quarter a year ago, it reported $46.7 million in profit on revenue of $157 million.

05/08/2009