Revenues nearly double. EPS more than doubles.Stock price drops by over 20%.Somebody fill me in... What'd I miss?Confused -- Mike4Kids Entertainment Breaks $100 Million In Revenues For 2003; Diluted EPS More Than Doubles From $0.51 In 2002 to $1.05 In 2003 NEW YORK, Mar 15, 2004 (BUSINESS WIRE) -- 4Kids Entertainment, Inc. (KDE), today announced results for the fourth quarter and year ended December 31, 2003. For fiscal year 2003, 4Kids Entertainment net revenues increased 92% to $102.1 million from $53.1 million in 2002. Net income for the year was $14.8 million, or $1.05 per diluted share, versus $7.0 million, or $0.51 per diluted share, reported in the prior fiscal year. The diluted weighted average common shares outstanding for the year ended December 31, 2003 were 14,156,291 shares compared with 13,726,642 shares for the prior year. Net revenues in the fourth quarter ended December 31, 2003, were $32.4 million compared to $25.9 million in the year-earlier period. Fourth quarter net income was $5.3 million, or $0.36 per diluted share, compared to $2.2 million, or $0.16 per diluted share, in the same period from the previous year. Commenting on the results, Al Kahn, Chairman and Chief Executive Officer, said, "our annual revenues grew to over $100 million for the first time in the company's history enabling us to more than double net income and earnings per share for the year".
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