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Non-Tech : Marvel Enterprises (NYSE) -- Ignore unavailable to you. Want to Upgrade?

To: stockid who wrote (430)	11/16/2003 6:00:11 PM
From: stockamaniac	Read Replies (1) \| Respond to of 540

Well, a Yahoo poster named armand, who has been putting out his model for a long time, has been pretty accurate on MVL's earnings (pretty close to their actual numbers, not those low ball initial guidance numbers), He just put out .33 for next quarter whereas MVL has .10 - .16. An upwards guidance revision would be nice, although I doubt it'd be at next weeks conference since they could have done it recently at earnings. Maybe later a surprise announcement would give a nice pop. Hulk DVD seems to be doing well, not that MVL sees any of it, but hopefully gives more push to greenlight Hulk 2. Some good news on FF would be nice given the lack of news on director/script/stars. And hopefully some news for 2004 earnings to help against the 'lower earnings due to increased taxes' cloud Saw the Punisher teaser online. Didn't exactly blow me over. Crossing fingers on that one.

To: stockid who wrote (430)	11/17/2003 7:45:28 PM
From: OmertaSoldier	Respond to of 540

Strong Business Momentum and New Growth Initiatives Contribute to Substantial Increase in Marvel's 2004 Financial Guidance Monday November 17, 4:05 pm ET......Stockid, my thoughts, not 100 million increase in sales. HOLY crap thats nice. Which will be revised up later might I add, because MVL is always low balling. How much we go up today, not a f**king clue. It will be active though. NEW YORK--(BUSINESS WIRE)--Nov. 17, 2003--In anticipation of its inaugural analyst day webcast to be held tomorrow, Marvel Enterprises, Inc. (NYSE:MVL - News) today provided updated financial guidance for 2004. Based primarily on increased retailer promotional support for Marvel-branded licensed products and higher expectations for growth in international licensing, Marvel is raising its financial guidance for net sales, operating income, net income and EPS for the full year 2004 as reflected in the table below. Marvel's live analyst day webcast starts at 8:30 a.m. EST, Tuesday, November 18 and is available at www.marvel.com/investors/. Marvel expects increases in both net sales and operating income in 2004, compared to 2003. However, solely as a result of a substantially higher effective tax rate of 36% in 2004 compared to negative 2% in 2003 (as described below), Marvel continues to expect a decline in net income and EPS from operations year-over-year. Expected results for 2003 reflect a one-time, non-cash gain of $31.5 million, or $0.42 per diluted share, from Marvel's recording of an asset on its balance sheet for Federal tax net operating loss (NOL) carry-forwards. Marvel expects to exhaust this NOL asset and begin paying Federal taxes sometime in the second half of 2004. ---------------------------------------------------------------------- Marvel Enterprises, Inc. Financial Guidance ---------------------------------------------------------------------- (in millions - except per Updated 2004 Previous 2004 2002 share amounts) Guidance Guidance (5) 2003 Guidance Results ---------------------------------------------------------------------- Net sales $415 - $435 $315 -345 $324 - $329 $299.1 ---------------------------------------------------------------------- Operating Income $173 - $193 $137 - $157 $159 - $164 $80.3 ---------------------------------------------------------------------- Net income (1) $98 - $111 $74 - $87 $146 - $150 $22.6 ---------------------------------------------------------------------- EPS attributable to common stock (1) (2) (3) (4) $1.31 - 1.48 $0.96 - $1.14 $1.94 - $2.00 $(1.18) ---------------------------------------------------------------------- Weighted average diluted common shares 75.0 77.5 75.0 38.5 ---------------------------------------------------------------------- ---------------------------------------------------------------------- Effective Tax Rate (1) 36% 36% -2% 31% ---------------------------------------------------------------------- (1) 2003 Net income and EPS attributable to common stock includes a $31.5 million ($0.42 per diluted share) one-time, non-cash benefit from the valuation of Federal tax net operating loss (NOL) carry-forwards. Marvel's 2003 effective tax rate reflects the one-time NOL valuation benefit. (2) 2002 EPS attributable to common stock also reflects approximately $68.1 million in preferred stock dividends, including a $55.3 million one-time non-cash charge related to the completion of Marvel's Preferred Share exchange offer. (3) 2002 Net income and EPS attributable to common stock is net of a $9.4 million non-cash charge related to the amortization of HSBC credit facility costs, warrants issued to Isaac Perlmutter and senior note offering costs. The amounts also include $11.8 million in non-cash loan cost amortization that was accelerated into 2002 as a result of Marvel's prepayments of its bank debt in 2002. 2002 Net income and EPS attributable to common stock include the impact of a non-cash SFAS 142 impairment charge of $4.2 million. (4) 2003 EPS attributable to common stock is net of approximately $1.2 million in preferred stock dividends. (5) Previous 2004 guidance ranges were provided in the Company's August 12, 2004 release. Marvel cautions investors that inherent variability in the timing of license opportunities and entertainment events, the timing of their revenue recognition, and their relative commercial success could have a material impact on its quarterly and full year results as well as contribute to sequential and year-over-year variability in financial performance. Drivers for 2004 Guidance: Marvel's financial guidance is based on what it views at this time to be an appropriate set of assumptions. Marvel believes it is prudent to discount the performance of previous hit projects and products when developing financial guidance. The Company expects that licensing net sales will account for approximately 40% to 45% of total net sales in 2004. Licensing: Marvel's updated guidance for 2004 reflects the initial benefits expected from recently announced initiatives in Europe and Asia/Pacific aimed at significantly increasing Marvel's international licensing activities. Licensing sales related to the Spider-Man 2 sequel and the related 50/50 joint venture with Sony will make a material contribution to overall operating income in 2004. Marvel expects a significant portion of this contribution will be recorded in Q2 2004, prior to the film's July 2nd release. Total revenue from Marvel's more than 35 toy licensees is expected to decline year-over-year as a result of the shift from a substantial contribution from Hulk licensed toys in 2003 (the royalties of which were recorded in the licensing division), to Spider-Man movie toys in 2004 (the wholesale sales of which are recorded in Marvel's toy division). Publishing: A modest benefit is expected from continued strength in the core business plus moderate growth in new distribution channels such as traditional book stores. Other revenue contributors, such as advertising income and new growth initiatives targeting young adults, should also gain momentum by late 2004. Toy Division: Net sales guidance for 2004 reflects an expected strong contribution from wholesale sales of Spider-Man 2 action figures and accessories. Given the strength of the Marvel and Spider-Man brands and the toy line developed for the movie, combined with strong retailer interest and promotional support to date, Marvel anticipates a substantial increase in revenue from Spider-Man movie toys compared to 2003 and 2002, the year that Spider-Man: The Movie was released. Entertainment: Marvel's financial guidance for 2004 is based on the line-up, presented below, of feature films slated for release in 2004. Given the late timing of the Fantastic Four and Man-Thing feature films, Marvel's guidance does not include any current expectations for material financial contributions from these two films in the 2004 year. -0- ---------------------------------------------------------------------- Marvel Character Feature Film Line-Up For 2004 (Release dates and development timing are controlled by Studio partners) ---------------------------------------------------------------------- Film/Character Studio/Distributor Targeted Release Date ---------------------------------------------------------------------- The Punisher Artisan Entertainment April 16, 2004 ---------------------------------------------------------------------- Spider-Man 2 Sony/Columbia July 2, 2004 ---------------------------------------------------------------------- Blade 3 New Line Cinema August 12, 2004 ---------------------------------------------------------------------- Man-Thing Fierce/Artisan August 26, 2004 ---------------------------------------------------------------------- Fantastic Four Fox December 24, 2004 ---------------------------------------------------------------------- -- Corporate: Marvel's 2004 guidance is predicated on corporate overhead of less than $4.0 million per quarter. Elimination of Long Term Debt is a Primary 2004 Financial Goal: Reflecting the expectation of continued strong cash flows in 2004, Marvel expects it will call its $151 million principal amount of 12% Senior Notes in June 2004. The Senior Notes are callable at Marvel's option beginning June 15, 2004 at a price of $106 per $100 principal amount, for a total consideration of approximately $169 million, including an interest payment of approximately $9 million due to Note holders on June 15, 2004.