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Marvel Entertainment lifts its 2008 profit, sales forecasts

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May 5, 2008

NEW YORK—Marvel Entertainment Inc., which licenses comic book characters for films and consumer products, raised its full-year earnings and sales forecasts Monday after reporting its first-quarter profit topped analysts' estimates.

The company, whose characters include Spider-Man and The Incredible Hulk, now expects net income in a range of $104 million to $122 million, or $1.35 to $1.55 per share. It previously forecast a profit between $100 million and $118 million, or $1.30 to $1.50 per share.

Marvel boosted its revenue outlook to a range of $370 million to $400 million, up from $360 million to $400 million.

Analysts predict 2008 earnings of $1.58 per share on sales of $490.1 million, according to Thomson Financial.

The company said its forecasts do not include revenue or expenses related to the box office, home video/DVD, television or media sales performance of its "Iron Man" or "The Incredible Hulk" films.

© Copyright 2008 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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