WWE sees Q1 dip - Licensing.biz

WWE sees Q1 dip

Revenues from consumer products businesses down 24 per cent during period.
Author:
Publish date:

World Wrestling Entertainment has reported its first quarter results for the period ending March 31st 2009.

Revenues totaled $107.8 million, compared with $162.6 million in the comparable prior year quarter. Operating income was $16.7 million (compared with $27.1 million), while net income was $10.3 million (compared with $19.5 million).

Revenues from the consumer products businesses, meanwhile, were $33.1 million versus $43.4 million in the prior year quarter - a 24 per cent decrease.

With the division, licensing revenues were $19.8 million, as compared to $26.2 million in the prior year quarter, primarily reflecting lower video game and toy sales. Video game revenues declined by $5.7 million, while revenues related to toys declined by approximately $0.6 million in the current quarter.

"During the quarter, our core businesses performed relatively well, delivering operating income essentially flat with the prior year in an adjusted basis," commented Linda McMahon, CEO. "Our first quarter results reflected our successful efforts to improve operating efficiency. Our work to transform the company in this way resulted in a significant reduction in operating expenses and a marked increase in profit margins.

"We believe the changes we have made position us to leverage the power of our global brands and to deliver even stronger financial performance in a challenging economic environment."

Related

WWE up in Q1

Live events, consumer products and digital media sectors all see healthy growth as brand expands global presence.

Featured Jobs