4Kids Entertainment (KDE) - Resultaten Q2 2005
4Kids Entertainment Reports Second Quarter ResultsTuesday August 9, 4:02 pm ET
NEW YORK--(BUSINESS WIRE)--Aug. 9, 2005--4Kids Entertainment, Inc. (NYSE: KDE - News) today announced net revenues for the second quarter ended June 30, 2005 of $19.0 million compared to $22.1 million in the same period last year. Net income for the quarter was $631,000, or $0.05 per diluted share, compared to net income of $2.0 million, or $0.14 per diluted share, in the year-earlier period. The diluted weighted average common shares outstanding for the three months ended June 30, 2005 was 13,700,291 shares compared with 14,493,824 shares for the prior year.
For the six months ended June 30, 2005, net revenues totaled $39.3 million compared to $44.6 million in the same period last year. Net income for the six-month period was $2.6 million, or $0.19 per diluted share, compared to net income of $5.2 million, or $0.36 per diluted share, in the same period a year ago.
Al Kahn, Chairman and Chief Executive Officer, said "The decline in second quarter 2005 net revenues and net income resulted mainly from reduced home video revenue and international television sales. In addition, softer sales of Yu-Gi-Oh!(TM) licensed merchandise and reduced licensing revenues from Kirby(TM) were only partially offset by increased licensing revenue for Winx Club(TM) and American Kennel Club(TM) in the domestic market and Shaman King(TM) internationally."
Second quarter 2005 results were also impacted by somewhat higher overall expenses including increased advertising and promotional costs associated with building the "4Kids TV" brand and achieving and maintaining compliance with Sarbanes-Oxley.
"We continue to execute our strategic plan," said Kahn. "Our investment in the re-branding of the four hours of children's programming produced by 4Kids and broadcast on Saturday mornings on FOX as "4Kids TV" has helped to improve ratings, and has enhanced our ability to attract new programming that can translate into future licensing revenues and stronger ad sales.
"We are particularly excited about our strong fall 2005 line-up on 4Kids TV." We will be building on the initial broadcast success of Winx Club (TM), our first girls' television property. In September, 4Kids TV will be premiering the new BRATZ ® television series, based upon the top-selling line of fashion dolls from MGA Entertainment, as well as MAGICAL DOREMI (TM), one of Japan's most successful girls' programs. For our boys' audience, this fall, we will also debut the all new G.I. Joe Sigma 6 (TM) series on 4Kids TV," stated Kahn.
"In addition to Yu-Gi-Oh! Season 5 which is scheduled to be broadcast on Kids' WB! in the fall of 2005, a new Yu-Gi-Oh! spin-off series called Yu-Gi-Oh! GX, is scheduled for broadcast this fall on the Cartoon Network. The GX series, set a generation in the future, is expected to benefit from an expanded licensing program slated to begin in the second half of the year," said Kahn.
In the second quarter of 2005, 4Kids repurchased an additional 250,000 shares of the Company's common stock, bringing the total number of shares repurchased under the current 1 million share authorization to 600,000.
"Our goal is to build the world's leading vertically integrated children's entertainment company specializing in licensing," Kahn said. "With no debt and cash and investments of $108.1 million at June 30, 2005, we have significant resources with which to execute our growth strategy and build our portfolio of kids content. Going forward, we will remain sharply focused on building the 4Kids TV brand and expanding our content to promising new distribution platforms that can drive long-term growth and enhanced profitability," concluded Kahn.
NEW YORK--(BUSINESS WIRE)--Aug. 9, 2005--4Kids Entertainment, Inc. (NYSE: KDE - News) today announced net revenues for the second quarter ended June 30, 2005 of $19.0 million compared to $22.1 million in the same period last year. Net income for the quarter was $631,000, or $0.05 per diluted share, compared to net income of $2.0 million, or $0.14 per diluted share, in the year-earlier period. The diluted weighted average common shares outstanding for the three months ended June 30, 2005 was 13,700,291 shares compared with 14,493,824 shares for the prior year.
For the six months ended June 30, 2005, net revenues totaled $39.3 million compared to $44.6 million in the same period last year. Net income for the six-month period was $2.6 million, or $0.19 per diluted share, compared to net income of $5.2 million, or $0.36 per diluted share, in the same period a year ago.
Al Kahn, Chairman and Chief Executive Officer, said "The decline in second quarter 2005 net revenues and net income resulted mainly from reduced home video revenue and international television sales. In addition, softer sales of Yu-Gi-Oh!(TM) licensed merchandise and reduced licensing revenues from Kirby(TM) were only partially offset by increased licensing revenue for Winx Club(TM) and American Kennel Club(TM) in the domestic market and Shaman King(TM) internationally."
Second quarter 2005 results were also impacted by somewhat higher overall expenses including increased advertising and promotional costs associated with building the "4Kids TV" brand and achieving and maintaining compliance with Sarbanes-Oxley.
"We continue to execute our strategic plan," said Kahn. "Our investment in the re-branding of the four hours of children's programming produced by 4Kids and broadcast on Saturday mornings on FOX as "4Kids TV" has helped to improve ratings, and has enhanced our ability to attract new programming that can translate into future licensing revenues and stronger ad sales.
"We are particularly excited about our strong fall 2005 line-up on 4Kids TV." We will be building on the initial broadcast success of Winx Club (TM), our first girls' television property. In September, 4Kids TV will be premiering the new BRATZ ® television series, based upon the top-selling line of fashion dolls from MGA Entertainment, as well as MAGICAL DOREMI (TM), one of Japan's most successful girls' programs. For our boys' audience, this fall, we will also debut the all new G.I. Joe Sigma 6 (TM) series on 4Kids TV," stated Kahn.
"In addition to Yu-Gi-Oh! Season 5 which is scheduled to be broadcast on Kids' WB! in the fall of 2005, a new Yu-Gi-Oh! spin-off series called Yu-Gi-Oh! GX, is scheduled for broadcast this fall on the Cartoon Network. The GX series, set a generation in the future, is expected to benefit from an expanded licensing program slated to begin in the second half of the year," said Kahn.
In the second quarter of 2005, 4Kids repurchased an additional 250,000 shares of the Company's common stock, bringing the total number of shares repurchased under the current 1 million share authorization to 600,000.
"Our goal is to build the world's leading vertically integrated children's entertainment company specializing in licensing," Kahn said. "With no debt and cash and investments of $108.1 million at June 30, 2005, we have significant resources with which to execute our growth strategy and build our portfolio of kids content. Going forward, we will remain sharply focused on building the 4Kids TV brand and expanding our content to promising new distribution platforms that can drive long-term growth and enhanced profitability," concluded Kahn.
posted at 3:40 a.m.
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