Marvel earnings fall in third quarter
Company's profits drop with no movies this year
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Profits fell 60% on a 42% drop in revenue as the film biz, publishing and licensing generated less coin during the three-month period.
Marvel is readying a sequel to "Iron Man" for next summer, is prepping to start production on "Thor" and developing "Captain America" and "The Avengers."
Disney's $4 billion deal to buy the company is expected to close before the end of the year.
Marvel earned $20 million during the quarter from sales of nearly $106 million.
The company's core publishing biz was down 5.8%. Licensing was down 16% mainly due to the lack of movies, which move a lot of merchandise. Revenue for its film arm were down 73%, or $65 million, during the period, resulting in a $2.3 million loss.
Licensing has been a major growth area for the company, as more movie and animated TV shows generate interest in Marvel's stable of superheroes.
Last year, it generated 43% of its revenue from licensing, helped largely by "Iron Man" and "The Incredible Hulk," which together added $255 million to Marvel's coffers.
"Anticipation for 'Iron Man 2' continues to build, and we are focusing our efforts on the film's 2010 release and the related licensing opportunities," Marvel chairman Morton Handel said in a statement.
