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Non-Tech : Marvel Enterprises (NYSE)

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To: stockid who started this subject6/3/2003 8:03:51 PM
From: stockamaniac  Read Replies (2) of 540
 
Tidbits from the Raymond James release

They expect DD to contribute $6-$7 mill to the bottom line over the course of several years

Up to $3 mill next year towards earnings for X2

Balance of Hulk 1 fee to be paid in 2003. No caps on gross particpation for Hulk sequels

$5 mill fee for Spidey 2 due in 2Q 03. Movie needs worldwide BO > $400 mill for MVL to get addition gros participation dollars.

Believe it or not they say Punisher could contribute up to $50 mill over the next several years; upto $10 mill for next year. All this because Punisher is an 'Equity Participation' deal - Artisan pays 100% of costs & marketing, but MVL owns 50% of film - SWEET!!

They thank Stockid for all his good work.

EPS estimate for 2003 - $1.26 EBITDA/share $1.82
EPS estimate for 2004 - $1.25 EBITDA/share $2.12
EPS estimate for 2005 - $1.46 EBITDA/share $2.39

That's the biggest negative I see. 2004 EPS is lower than 2003 because MVL will have no more losses to carry forward and will be paying 37% taxes in 2004 as oppossed to 17% taxes in 2003. Income goes up, but so does the tax rate.

There's more, but I want to watch the Ahnold 100 greatest heroes/villians special.

Remember this is RJ opinion - plus I made up one entry - see if you can figure out which.

Out of the office the rest of the week - be kind to me MVL!
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