Marvel Comics reports Q3 losses

Marvel Entertainment Inc has reported that its third-quarter profit has fallen by 60%.

According to a company statement, the comic book publisher's net income has fallen from $50.6m (£30.8m) to $20.4m (£12.4m). The deficit was attributed to a drop in film revenue and licensing sales.

The firm's film-related income alone noted a year-on-year decline of $65m (£39.6m), although last year saw blockbuster releases Iron Man and The Incredible Hulk appear in cinemas.

Despite the downturn, Marvel chairman Morton Handel remained upbeat. "Despite the absence of any Marvel Studios feature film releases in 2009, Marvel continued to deliver solid operating performance across all our operating segments," he said.

"Anticipation for the high-profile Iron Man 2 feature film continues to build, and we are focusing our efforts on the film's May 2010 release and the related licensing opportunities. At the same time, we are making solid progress on the development and pre-production of our Thor, The First Avenger: Captain America and The Avengers feature film projects."

Thor, The First Avenger: Captain America and The Avengers are due to arrive in 2011.