Marvel Revenue Drops 26%

No “Iron Man” translates into weak quarter.

Last Updated: August 4, 2009 @ 6:03 PM

Sometimes, it’s easy math.

Marvel had no new self-produced movies during the past quarter, which translated into a big drop in earnings for the company.

Revenue for the second quarter was down 26% from the same point last year, falling to $116.3 million. Net income fell 38% to $29 million.

Last year at this time, "Iron Man" was a smash, and "Incredible Hulk" was a solid performer.

While "X-Men Origins: Wolverine" is based on a Marvel character and released in May, it generated no revenue from Fox’s $363.1 million worldwide gross; Marvel did not self-produce ""Wolverine."

"Iron Man" did continue to have somewhat a life, turning its pay TV run and DVD sales into a 13% rise from what the company considers revenue directly associated with movie production.

Marvel’s publishing division revenue was virtually unchanged, at $31.7 million.

"Iron Man 2" will be released in May 2010.