Harvey draws in red ink

NEW YORK — Harvey Entertainment Co. lost $183,000 in the first quarter, compared to a profit of $473,000 a year earlier, reflecting a dip in revenues and higher costs related to the creation of new licensing and character development departments.

Harvey recently won back the right from Universal Studios Inc. to control licensing and merchandising of its characters, which include “Casper” and “Richie Rich.” It is setting up a consumer products department to deal with that. Partly as a result, administrative expenses almost doubled in the first quarter to $1.38 million.

“We believe that controlling these important avenues of exploitation will lead to increased revenues and exposure for all the Harvey characters,” Harvey chairman Jeff Montgomery said in a statement.

Harvey’s revenues fell 21% in the quarter to $1.78 million.

More Biz

  • Ron Burkle

    Ron Burkle Sues Lantern Capital Over Weinstein Co. Costs

    NEW YORK — Harvey Entertainment Co. lost $183,000 in the first quarter, compared to a profit of $473,000 a year earlier, reflecting a dip in revenues and higher costs related to the creation of new licensing and character development departments. Harvey recently won back the right from Universal Studios Inc. to control licensing and merchandising […]

  • Netflix Reed Hastings

    Netflix Falls Short of Q2 Subscriber Expectations Worldwide, Stock Dives

    NEW YORK — Harvey Entertainment Co. lost $183,000 in the first quarter, compared to a profit of $473,000 a year earlier, reflecting a dip in revenues and higher costs related to the creation of new licensing and character development departments. Harvey recently won back the right from Universal Studios Inc. to control licensing and merchandising […]

  • Johnny Depp

    Johnny Depp Settles Feud With Former Managers

    NEW YORK — Harvey Entertainment Co. lost $183,000 in the first quarter, compared to a profit of $473,000 a year earlier, reflecting a dip in revenues and higher costs related to the creation of new licensing and character development departments. Harvey recently won back the right from Universal Studios Inc. to control licensing and merchandising […]

  • Ed Sheeran Shape of You

    Ed Sheeran Tops Pollstar’s Mid-Year Touring Charts as Industry Soars to Record Gross

    NEW YORK — Harvey Entertainment Co. lost $183,000 in the first quarter, compared to a profit of $473,000 a year earlier, reflecting a dip in revenues and higher costs related to the creation of new licensing and character development departments. Harvey recently won back the right from Universal Studios Inc. to control licensing and merchandising […]

  • Lantern Capitol

    Weinstein Co. Closes $289 Million Sale to Lantern Capital

    NEW YORK — Harvey Entertainment Co. lost $183,000 in the first quarter, compared to a profit of $473,000 a year earlier, reflecting a dip in revenues and higher costs related to the creation of new licensing and character development departments. Harvey recently won back the right from Universal Studios Inc. to control licensing and merchandising […]

  • BMG to Relaunch ‘Live from Daryl’s

    ‘Live from Daryl’s House’ to Relaunch in the Fall Via BMG Partnership (EXCLUSIVE)

    NEW YORK — Harvey Entertainment Co. lost $183,000 in the first quarter, compared to a profit of $473,000 a year earlier, reflecting a dip in revenues and higher costs related to the creation of new licensing and character development departments. Harvey recently won back the right from Universal Studios Inc. to control licensing and merchandising […]

  • STX Targeting August IPO in Hong

    STX Targeting August IPO in Hong Kong (Report)

    NEW YORK — Harvey Entertainment Co. lost $183,000 in the first quarter, compared to a profit of $473,000 a year earlier, reflecting a dip in revenues and higher costs related to the creation of new licensing and character development departments. Harvey recently won back the right from Universal Studios Inc. to control licensing and merchandising […]

More From Our Brands

Access exclusive content