********** THIS IS AWESOME *************
This is one hot stock to have in the portfolio.
NEW YORK--(BUSINESS WIRE)--Nov. 13, 1998--New York 4Kids Entertainment, Inc. (NASDAQ: KIDE) reported today its results of operations for the third quarter and nine months which ended on September 30, 1998.
Third quarter net revenues increased 97% to $2,756,488 compared to $1,400,123 reported for the same period last year. For the quarter, the Company reported net income of $406,155 or $0.11 cents per share on a fully diluted basis, compared to last years third quarter loss of $ (98,733) or $ (0.03) cents per share.
For the nine-month period net revenues rose 142% to $7,357,997 compared to $3,034,602 for the same period in 1997. Net income for the nine month period was $799,874 or $0.22 cents per share on a fully diluted basis, compared to a loss of $ (1,309,688) or $ (0.42) cents per share for the year ago period.
"We expect record sales for 1998 with earnings to exceed $0.70 cents per share," said Al Kahn, Chairman and CEO. He further noted this was an increase in the Company's previously announced projection of $0.50 cents per share.
The results for the quarter and nine months were positively impacted by continued strength in licensing. The Pokemon property continues to draw enormous attention with the top-rated syndicated cartoon show, produced by the Company's 4Kids Productions subsidiary, and distributed by the Company's Summit Media subsidiary. The Pokemon series is the number one children's strip in the country, beating all Fox Kids and Kids WB strips for the first week of November sweeps. In addition to the top-rated cartoon series, the popularity of Pokemon is growing in anticipation of the November 17th launch of toys and merchandise by Hasbro; a massive fourth quarter promotional campaign with KFC; a national sweepstakes with a grand prizes including Volkswagen Beetles; a strategy card game from Wizards of the Coast; home video and more.
Additionally, the Company continues to expand its broad-based licensing program with World Championship Wrestling (WCW), a division of Turner Sports and Time Warner.
The brand has over 125 licensees including Starter, sports apparel leader; Capital One, one of the largest providers of MasterCard and Visa worldwide; Hallmark Cards; Electronic Arts for video games; and Toy Biz as Master Toy Licensee. The enormous popularity of the WCW is made up of 32 million fans tuning in every week to watch the 13 hours of programming; a web site generating 10 million page impressions a month; and 12 pay-per-view specials a year reaching over 300,000 households per show. Retail powerhouses such as Wal-Mart, Kmart, Toys R Us, and Target, as well as sports specialty retailers all across the country will carry the quality WCW consumer products this holiday season.
In addition to Pokemon and WCW, the Company continues to expand its merchandise licensing program for the revolutionary Nintendo N64 video game system and its game characters, including Super Mario, Donkey Kong and the much anticipated holiday release of The Legend of Zelda, Ocarina of Time. The Company is the exclusive merchandise licensing agent representing Nintendo characters worldwide, except in Japan.
In addition to licensing, the Company's Summit Media distributes six hours of nationally syndicated television programming weekly, including the top-rated cartoon show, Pokemon, War Planets, Voltron, The Third Dimension and RoboCop. Additionally, the Company's Summit Media unit continues to rank among the largest US children's market media buyers, placing over $100 million of advertising on behalf of its clients in 1998.
Headquartered in New York, 4Kids Entertainment, Inc. (NASDAQ: KIDE) is a vertically integrated entertainment company whose wholly-owned subsidiaries include: Leisure Concepts, Inc., a leader in domestic and international merchandise licensing and product development; 4Kids Productions, involved in the production of programming for television; and Summit Media, involved in domestic and international television distribution, media buying and planning.
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THANK YOU BulbaMan for this bookmark. I didn't realize KIDE had this much going for it. Its a keeper. THE 150 POKEMON creatures are going
to be a hot stocking stuffer, not to mention all the Wresting and Nintendo Toys.
businesswire.com
Regards,
S.W. |
