IE 11 is not supported. For an optimal experience visit our site on another browser.

Marvel updates forecast with 'Iron Man' results

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.
/ Source: The Associated Press

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.