Marvel’s Loss Widens in Reorganization
Bloomberg News
Marvel Enterprises Inc. said its third-quarter loss widened to $14.7 million, or 54 cents a share, from $9.2 million, or 39 cents, a year ago, as the comic-book publisher and toy maker shifts from its traditional toy lines to focus on its more-profitable licensing and entertainment businesses.
Sales fell 41% to $43 million, the New York-based company said. Revenue from the licensing and publishing units rose. Marvel fell 16 cents to $2.80 on the NYSE.
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