4Kids Announces First Quarter 2007 Results
4Kids Entertainment today announced the results of their first fiscal quarter of 2007.
The company’s net revenues dropped from $19.3 million last year to $14.9 million. Much of the revenue was generated by the recent release of Warner Bros.’ and Imagi’s CGI film TMNT as well as continued revenue from their Cabbage Patch Kids line. Unfortunately, two of the company’s older products, Yu-Gi-Oh! and Winx Club performed below expectations, and a few projects they had started last year are not meeting the company’s goals.
4Kids will focus this year on their new brand Chaotic. The company already has an on-going television show and online card game set-up for the franchise, but 4Kids wishes to expand the brand to a real Trading Card Game which will be released to comic and hobby shops this year. 4Kids also has several animated series that will debut in the 2007-2008 season.
For more details, read the press release here.
Source: Business Wire