It’s been a tough third quarter for 4Kids Entertainment, as the company’s taken another financial hit in this challenging economic climate.
Net revenues for Q3 2009 came in at US$7.3 million, versus US$17.8 million during the same period last year. As for the nine months ending September 30, net revenues sat at US$21.9 million, a drop of more than 50% from US$49.4 million for the same period in 2008.
However, chairman and CEO Al Kahn stated the recent US$9.8 million earned from the company’s share of Mirage Studios’ US$60 million sale of the Teenage Mutant Ninja Turtles to Nickelodeon in October provided the company with a cash infusion. He’s also optimistic about 4Kids recent licensing deal with NFL Properties and NFL Players and a TV ratings boost for it’s US block that should lead to increased licensing revenues in Q4.