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WWE Releases 3rd Quarter Results

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The full press release can be found here. Here are some of the juicer bits from this morning's 11:00AM conference call. Big ups to Larry Csonka of 411Wrestling.com for transcribing the call.

  • Donna Goldsmith takes over the call, and says that Vince is unable to join us today. Damn. She says they had a 10% decline in live attendance, and a 16% drop in PPV buys.
  • Global relations with Mattel is very profitable as they have increased sales by 172%. Toys sales in Mexico have helped international toy sales increase 62%.
  • With Shawn Michaels and Batista leaving after WrestleMania, and Chris Jericho, CM Punk, Undertaker and HHH being injured or taking long leaves, they feel that has had an effect on live attendance and PPV buy drops.
  • Operating income was $20.3 million as compared to $14.5 million in the prior year quarter. Net income was $14.3 million, or $0.19 per share, as compared to $8.9 million, or $0.12 per share, in the prior year quarter. Impacting comparability to the prior year quarter are production tax credits recorded in both current and prior year quarters. Excluding the impact of these credits, Adjusted Operating income was $14.2 million as compared to $12.0 million in the prior year quarter. Adjusted Net income was $10.3 million, or $0.14 per share, as compared to $7.4 million, or $0.10 per share.
  • As far as WWE Studios go, they recorded revenue of $7.6 million related to all seven of the released films as compared to $3.0 million in the prior year quarter. Overall, WWE Studios lost $0.6 million due to marketing costs, but feel that the WWE Studios is a viable commodity, due to the fact that it expands the reach of their talent.
  • On merchandise sales with new talent, Nexus is doing well, and have risen, due to John Cena's inclusion. Wade Barrett and Alberto Del Rio are tracking well, and while not at the level of other top stars, they have high hopes for them.
  • On the WWE Cable network, they are still looking into it, and more will happen after the beginning of 2011.

Looking through the report very quickly the following divisions are down: Live Event and Home Video (3 percent), Live and Televised Entertainment (5 percent), Live Event Revenues (16 percent; there were 15 less events in North America), Pay-Per-View Revenue (12 percent), Venue Merchandise (due to less events in North America), Consumer Products (7 percent), Home Video Net Revenues, Magazine Publishing Net Revenues, Digital Media (8 percent), WWE.com Revenue, WWEShop.com Revenue.

They're still making money but it's certainly not flowing in as free and easy as it once was. Pretty funny that McMahon no-showed the call.