Marvel Sees Wider Loss for Quarter

NEW YORK — Marvel Entertainment Group Inc. said it expects to report a wider-than-expected loss in the fourth quarter because of a slowdown in sales and costs related to its bankruptcy reorganization.

The comic book and trading card publisher said it expects to report a loss of $405 million to $440 million, or $4 to $4.35 a share, compared with a loss of $58.5 million, or 58 cents, in the year-earlier quarter.

The latest quarter’s results include charges of about $350 million to $385 million related to a reduction of goodwill and a write-off of deferred tax assets at its trading card business and restructuring costs.

Marvel, suffering from sluggish sales at its comic book and trading card operations, filed for Chapter 11 bankruptcy protection in December after financier Ronald Perelman offered a plan to inject $365 million into the company in exchange for more shares; a bank group offered an additional $160 million. Bondholders have been fighting to block the plan because it would severely reduce the value of the collateral backing their bonds.

Marvel shares gained 12.5 cents to close at $2 in New York Stock Exchange trading.

New York-based Marvel said it plans to file information today in U.S. Bankruptcy Court related to its preliminary fourth-quarter results. It said it will release final results after its audit.

For the year, Marvel expects to report a loss of $435 million to $470 million, or $4.25 to $4.60 a share, including the charges of $350 million to $385 million. That compares with a loss of $48.4 million, or 48 cents, for 1995.