10:47am 08/12/03 Marvel rallies on strong Q2, higher FY03 outlook (MVL) By Michael Baron NEW YORK (CBS.MW) -- Marvel Enterprises (MVL) gained more than 7 percent to $20.08 after the New York entertainment firm reported second-quarter results that topped Wall Street expectations and boosted its earnings outlook for the full year. The company attributed the strong results to the successful release of three films in the first half of the year, and expansion of its licensing business. Marvel earned $32.8 million, or 42 cents per share, in the second quarter, on sales of $90 million. In the same period a year earlier, the company earned $4.4 million, or 10 cents per share, on sales of $71 million. Six analysts polled by Thomson First Call were looking for a profit of 31 cents per share in the latest period. The second quarter, in particular, got a boost from continued momentum in licensing of characters such as The Incredible Hulk and Spiderman. For the full year, Marvel now sees earnings of $95 million to $100 million, or $1.26 to $1.31 per share. It had been projecting a profit of $74 million to $82 million, or 96 cents to $1.07 per share, in 2003. |