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Marvel income climbs 92.6% in 4th quarter

Marvel Entertainment Group Inc. posted a 92.6% increase in net income for the fourth quarter, fueled by its acquisition of Fleer Corp.

The company recorded profits of $ 10.4 million (21 cents a share) for the period, compared to $ 5.4 million (11 cents) in the same quarter last year.

Revenues climbed almost threefold from $ 34.8 million to $ 90.4 million.

Marvel purchased Fleer in September, and according to the company, it showed double-digit growth for the period. Marvel publishing, licensing and advertising net revenues rose about 17% for the quarter and 29% for the year.

For the year, Marvel reported a net income of $ 32.6 million (66 cents ) vs. $ 16 million (33 cents) in 1991.

Revenues were up substantially, hitting $ 223.8 million, compared with $ 115. 1 million the year before.

Despite the performance, the company’s stock was on the Big Board’s most active list, falling 9.6% to $ 22.25.

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