New York City-based global children’s entertainment and merchandise licensing company 4Kids Entertainment has released its financial results for the second quarter ended June 30, 2010, with revenues across business segments coming in below expectations.
Net revenues for the three month period totaled US$2.5 million, compared to US $3.6 million for the same period a year ago. For the six months ended June 30, 2010, net revenues totaled US$6.7 million, compared to US $12.9 million for the same period in 2009. As of June 30, 2010, the company had approximately US$4.3 million in cash and US$11.4 million in investment securities at their fair market value.
4Kids is presently in discussions with potential investors who also may be looking to acquire all or a portion of the company’s business, but no transactions have been announced yet.
The results came in as 4Kids concluded negotiations with US broadcaster The CW on a revised agreement. The company has also just started a promotional campaign for the rebranding of its five-hour Saturday morning block on The CW called Toonzai, which is filled with anime series, including Yu-Gi-Oh! 5D’s and Dragon Ball Z Kai, as well as classics such as Sonic X and Dinosaur King.