New York City-based 4Kids Entertainment released its year-end numbers yesterday, revealing a loss of US$42.1 million for 2009 on net revenue of US$36.8 million, widening 2008′s net loss of US$36.8 million on revenue of US$57.2 million.
Q4 numbers, meanwhile, rang in at US$17 million in net revenue, up from US$12.8 million during the same period in 2008. The Q4 intake included US$9.8 million that the company received as part of its agreement to terminate its right to serve as a licensing agent for Teenage Mutant Ninja Turtles property, which was sold to Nickelodeon for US$60 million last October. 4Kids net loss for Q4 2009 was US$21.3 million, compared to a net loss of US$19.6 million the previous year.
Al Kahn, chairman and CEO of 4Kids Entertainment, said the company has made significant adjustments on how it operates, reorganizing and reducing its cost structure to achieve a better position in the current market. He added that the company’s annual expense base should total less than US$25 million for 2010.