Marvel Entertainment Inc. topped Wall Street projections with its fourth-quarter results Tuesday, saying net income more than doubled on strong DVD sales of the film "Iron Man."
The company reported a profit of $63 million, or 80 cents per share, compared with $27.6 million, or 35 cents per share, a year earlier.
Analysts were looking for 70 cents per share, according to a Thomson Reuters poll.
Quarterly sales beat expectations as well, climbing to $224.3 million from $109.3 million a year ago, compared with the average forecast of $213.5 million.
In a statement, Marvel Chairman Morton Handel attributed better-than-expected results to the company's strategy of producing its own films.
Marvel said its movie business contributed $135.5 million in revenue, mainly from "Iron Man" DVD sales.
Full-year results were boosted by the theatrical release of Marvel's first two feature films, "Iron Man" and "The Incredible Hulk."
Earnings for 2008 grew 47 percent to $205.5 million, or $2.61 per share, compared with $139.8 million, or $1.70 per share, in 2007. Analysts expected a profit of $2.55 per share.