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Marvel profits, sales slump

Earnings Brief

Marvel Entertainment’s profits and sales dropped last quarter as the company lingers between big-ticket pics.

But execs predicted a stronger-than-anticipated full year 2006 and announced plans for a $100 million stock buyback.

Marvel said net income for the first quarter fell 37% to $17.5 million.

Revenue dipped 14% to $90 million on a falloff in licensing sales.

Toy sales, however, more than doubled to $26.6 million from the previous year.

Looking ahead, Marvel upped its full-year earnings guidance to between $40 million and $53 million.

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