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 Spiderman 3, Marvel Entertainment profit up

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Registration date : 2007-02-26

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PostSubject: Spiderman 3, Marvel Entertainment profit up   Spiderman 3, Marvel Entertainment profit up EmptyTue May 08, 2007 5:11 pm

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(Reuters) - Marvel Entertainment Inc., which licenses comic book characters such as Spider-Man, posted a higher quarterly profit on growth in its licensing operations as well as increased contributions from toys and comic book publishing.






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Marvel said net sales in the first quarter at its licensing segment more than doubled to $98.9 million, compared with last year, due to its Spider-Man merchandising joint venture with Sony Corp (NYSE:SNE - news). and strength in domestic licensing.

The company reported earnings of $46.8 million, or 56 cents a share, in the latest quarter, compared with earnings of $17.5 million, or 19 cents a share, a year ago.

Net sales rose to $151.4 million from $90.1 million.

Analysts expected Marvel to earn 35 cents a share, excluding items, on revenue of $102.2 million, according to Reuters Estimates.

Marvel also reiterated its 2007 earnings of $1.30 to $1.55 a share, on net sales of $375 million to $435 million.

Analysts expect earnings of $1.46 a share, excluding items, on revenue of $433.3 million.

(Reporting by Deepti Chaudhary in Bangalore


___

Universal Pictures and Focus Features are owned by NBC Universal, a joint venture of General Electric Co. and Vivendi Universal; Sony Pictures, Sony Screen Gems and Sony Pictures Classics are units of Sony Corp (NYSE:SNE - news).; DreamWorks, Paramount and Paramount Classics are divisions of Viacom Inc.; Disney's parent is The Walt Disney Co.; Miramax is a division of The Walt Disney Co.; 20th Century Fox, Fox Searchlight Pictures and Fox Atomic are owned by News Corp.; Warner Bros., New Line, Warner Independent and Picturehouse are units of Time Warner Inc.; MGM is owned by a consortium of Providence Equity Partners, Texas Pacific Group, Sony Corp., Comcast Corp., DLJ Merchant Banking Partners and Quadrangle Group; Lionsgate is owned by Lionsgate Entertainment Corp.; IFC Films is owned by Rainbow Media Holdings, a subsidiary of Cablevision Systems Corp.





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Spider-Man 3 (2007)

Peter Parker has finally managed to strike a balance between his devotion to M.J. and his duties as a superhero. But there is a storm brewing on the horizon. When his suit suddenly changes, turning jet-black and enhancing his powers, it transforms Peter as well, bringing out the dark, vengeful side of his personality that he is struggling to control. Under the influence of the suit, Peter becomes overconfident and starts to neglect the people who care for him most. Forced to choose between the seductive power of the new suit and the compassionate hero he used to be, Peter must overcome his personal demons as two of the most-feared villains yet, Sandman and Venom, gather unparalleled power and a thirst for retribution to threaten Peter and everyone he loves.

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Release Date: May 4th, 2007 (wide)
Distributors: Sony Pictures Releasing



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