Marvel Entertainment Inc. raised its 2008 financial forecast Tuesday to include the results from the hit self-produced movies "Iron Man" and "The Incredible Hulk," but the forecast was below Wall Street estimates.
The comics publisher said it would earn $122 million to $138 million in 2008, or $1.55 to $1.75 per share. That's up from a previous forecast for a profit of $104 million to $122 million, or $1.35 per share to $1.55 per share.
Analysts surveyed by Thomson Financial had been expecting earnings of $1.96 per share, with estimates ranging widely, from $1.57 to $2.55.
Marvel said it expects sales of $450 million to $480 million, $80 million above its previously estimated range.
Analysts had been expecting revenue of $543 million, with a wide spread from $412 million to $643 million.
Marvel said it expects film production to contribute revenues of approximately $65 million to $80 million, with a margin of about 8 percent to 18 percent.
The licensing segment is the company's largest, expected to contribute net sales of $260 million to $270 million, with a margin of 68 percent to 78 percent.
Publishing is expected to yield sales of $130 million to $135 million, with a margin of 37 percent to 40 percent.