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4Kids Entertainment Financials Date: 5/11/2005 |
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Revenue Drops 10%, Profit Drops 38% -------------------------------------------------------------------------------- 4Kids Entertainment recently announced that their net revenues fell 10% in the first quarter of 2005 compared to the first quarter of 2004, from $22.5 million to $20.3 million. Net Income fell 38% from $3.2 million to $2.0 million. In 4Kids' quarterly quarterly investor conference call, company CEO Al Kahn stated that the decline in revenue stems largely from a decline in licensing revenue from the Yu-Gi-Oh! series, and declining advertising revenue from 4Kids TV. However ratings for 4Kids TV had improved significantly in the last weeks of the quarter. Declining revenue from the Yu-Gi-Oh! franchise was cited as a major contributing factor to a 14% decline in 4Kids' net income in 2004 over 2003. 4Kids upcoming release of Yu-Gi-Oh! GX is expected to increase licensing revenue. Al Kahn also stated that there are fewer opportunities in Japan to license mega-titles like Pokemon and Yu-Gi-Oh! and the company is therefore investing in development of its own series with 3 of them expected to be announced in 2006. |
| Source: Anime News Network |
