In Its Fiscal Q1
Posted by Milton Griepp on March 23, 2017 @ 12:29 pm CT
The sales increase of $1.37 million was due to “strong titles, including the March book series,” and an increase in IDW Games revenue of $186,000 (the Teenage Mutant Ninja Turtles board game was mentioned as a revenue driver), partially offset by reduced licensing revenue, which was down $212,000; reduced digital revenue, down $69,000 (which it said was timing related); and other minor changes.
The big hits to profits came from a reduction in gross margin (which it tied to the increase in March sales), and to increases in selling, general, and administrative expenses of $543,000, which included an increase of $225,000 in non-cash compensation.
The star division was IDW Entertainment, which contributed sales of $3.3 million vs. $37,000 in the same quarter last year, and a profit of $686,000, a swing from a $153,000 loss in the year ago period. The change was due to delivery of episodes of Wynonna Earp and Dirk Gently during the period.
CTM, the company’s distributor of tourist information, had a rough quarter, producing a $506,000 loss due to a decline in revenues which it tied to “major accounts’ insolvencies and Broadway show closings” and other causes, coupled with an increase in expenses.
Overall, IDW Media Holdings’ quarter showed strong improvement, with a 39% increase in revenues and a net income of $127,000 vs. a $92,000 loss in the year ago period.
New Comics Coming in 2021
July 2, 2020
Marvel Comics will be releasing new comics for the Alien, Predator, and Alien vs. Predator franchises starting in 2021.