Marvel's 4Q profit more than doubles (thanks, Spidey!)
Reuters reports that Marvel's fourth-quarter net income more than doubled from the same period last year, to $30.1 million, thanks largely to its joint venture with Sony for Spider-Man movie merchandising and improved international licensing revenue.
Sales increased 17 percent to $100.5 million, with licensing accounting for more than half of that. Sales in the publishing division rose 16 percent to $22.1 million, but Marvel's toy segment sales fell 41 percent to $21.8 million because of lower sales for merchandise based on Lord of the Rings and The Hulk movies.
In a more detailed release, Marvel attributes the increase in the publishing segment to "strength in core comic and trade paperbacks as well as growth in new mass-market retail chains."
For those interested, the release also updates the status of the films, television shows and video games based on the company's characters.