BOYS MONTH: Consumer products keep strong for WWE - Licensing.biz

BOYS MONTH: Consumer products keep strong for WWE

Firm sees 40 per cent increase from consumer products businesses in third quarter.
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WWE has reported revenues of $108.8 million for its third quarter ending September 30th, compared to $108.1 million in the prior year. Operating income was $7.9 million as compared to $13.4 million in the previous year quarter.

Net income, meanwhile, was $5.3 million ($8.5 million in the prior year period).

"Through the first half of 2008, our business achieved significant top-line growth despite a difficult economic environment," said Linda McMahon, WWE CEO. "In the third quarter, however, our revenue growth slowed. Consistent with our previously announced commitment, we are moving forward with at least $20 million of cost savings in 2009."

Live event revenues grew to $20.3 million from $20.1 million in the prior year quarter - with international events accounting for $4.8 million of this.

Revenues from the consumer products business were $26.6 million versus $19.0 million in the previous year quarter, an increase of 40 per cent.

Within this, home video net revenues grew to $11.0 million from $5.7 million in the prior year period, while licensing revenues were up to $10.6 million from $9.4 million, primarily reflecting increases in multimedia game and music sales.

In addition, magazine publishing net revenues were $4.7 million, up from $3.9 million in the prior year quarter.

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