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NewKidCo International Inc. Announces Q2 Results

Interactive entertainment producer NewKidCo International Inc., which develops games based on popular licensed characters such as WINNIE THE POOH and THE MUPPETS, announced its 2nd quarter 2002 results. The company had a net loss of $1.8 million for the quarter versus a net loss of $8.5 million for the same period last year. Income for the six months was a loss of $3.6 million versus a loss of $8.2 million last year, with revenue for the three and six months at $1.2 million and $3.1 million respectively versus $1.7 million and $5.3 million for the same period one year ago. NewKidCo lists the primary reason for the lower than anticipated revenue and income was the delayed release of two new titles TOM & JERRY for PlayStation2 and LITTLE LEAGUE BASEBALL 2002 for Game Boy Advance. Both of these titles will now ship in the third quarter and should contribute in excess of $3 million of revenue. NewKidCo president and COO Arthur Levine said that the company anticipates the revenue and performance in the second half of the year will be stronger than the year-ago period based on new releases such as the above mentioned titles as well as games based on DORA THE EXPLORER and DR. SEUSS licenses, and the release of two new ET: THE EXTRA-TERRESTRIAL titles (for Game Cube and PlayStation 2), to coincide with the 20th anniversary DVD/home video release in October 2002.

NewKidCo is bringing some of the most well-known properties and characters into the childrens gaming arena. Jacquie Kubin gains insight from executive Paul Samulski.