Solid performance in Q3 for WWE - Licensing.biz

Solid performance in Q3 for WWE

Revenues total $111.3m for period, while operating income stands at $14.5m
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World Wrestling Entertainment has reported its financials for the three months ending September 30th.

The firm saw revenues total $111.3 million for the period, compared to $108.8 million in the prior year quarter. Operating income was $14.5 million (compared to $7.9 million in 2008), while net income was $8.9 million (2008: $5.3 million).

"We are pleased with our solid performance," said Vince McMahon, chairman and CEO at WWE. "Looking ahead, we believe WWE can achieve meaningful growth by taking advantage of our strategic opportunities and maintaining our focus on managing costs. Our portfolio of businesses exhibit significant operating leverage and, through disciplined cost management, we expect that leverage to drive future earnings growth."

Live and televised event revenues rose during the quarter, although consumer products revenues were down 14 per cent to $23.0 million.

Licensing revenues were $7.9 million, as compared to $10.6 million in the prior year quarter. The decrease primarily reflects the reduction in royalties earned on sales of toys and video games, particularly in international markets.

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