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4Kids Posts 3rd Quarter Results Date: 11/10/2005 |
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Weak Yu-Gi-Oh! Sales Push Sales and Profit Down Compared to Last Year -------------------------------------------------------------------------------- 4Kids Entertainment has posted its financial results for the quarter ending September 30th, 2005. As with the first two quarters this year, 4Kids has reported lower net revenue and lower net income compared to the same periods in 2004. For this quarter, net revenue was down $4.2 million to $20.5 million from $24.7 million, a 17% drop. Net income was down $.5 million to $2.0 million from $2.5 million, a 20% drop. Overall, for the three quarters, net revenue fell to $59.8 million compared to $69.2 million the prior year, and net income fell to $4.6 million from $7.7 million. A drop of 14% and 40% respectively. 4Kids CEO Al Kahn cited diminishing of Yu-Gi-Oh! and Teenage Mutant Ninja Turtles merchandise, home video and TV sales. The company has $104 million in cash and investments and no debt. It has concluded the buy back of 1 million common shares and has authorised the buy back of a further one million shares between now and December 31, 2006. 4Kids shares are listed on the NYSE as KDE. They are currently valued at $16.50 (Approx), down from 18.75 a year ago. The company's market cap is approximately $220 million. |
| Source: Anime News Network |
