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Marvel closes up 15% on 4Q 2008 report

Tuesday, February 24, 2009

Something actually went up on Wall Street: The market evidently liked what it heard in Marvel's quarterly report for the fourth quarter of 2008, with the stock closing up more than 15% to $27.55 after the earnings call.

Marvel's third quarterly report had topped Wall Street estimates; so, too, did this one, with Reuters reporting that "profit more than doubled, beating market estimates for the sixth straight quarter, as it benefited from the strong performance of its first self-produced films."

Marvel's revenue more than doubled to $224.3 million, the report said, including film-production revenue of $135.5 million, principally from Iron Man DVDs. Publishing revenue grew 9% to $33.1 million: recall that Diamond sales for the market in the quarter were $114.89 million at full retail. Marvel's portion of that, based on market shares, is about $42 million, so figuring roughly three-eights of that as the publisher's revenue, the direct market accounts for somewhere around $15.75 million, or just over half of it. If foreign or some other kinds of receipts are in that publishing revenue total, that'd square up fairly well with the direct market/mass market breakdown posited here earlier.

The company said it still saw a steep drop in earnings and revenue for 2009, when it has fewer self-produced movies.

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