Marvel Entertainment’s Q1 net sales rose to US$151.4 million, compared to US$90.1 million for the same period last year.

The spike in revenue can be attributed to the strength of the company’s licensing operations and the minimum licensing guarantees brought in by the Spider-Man franchise. The third instalment of Sony’s feature film saga broke box-office records this weekend with a US$151-million three-day take.

Net sales contributed by Marvel’s licensing division more than doubled over the first quarter over Q1 2006, and almost all of this growth is due to Spidey. The company’s publishing unit also ponied up a healthy net increase of 15% to US$27.5 million.

Net toy sales, on the other hand, were down by US$1.6 million for the quarter. But at the same time, margins spiked from an estimated 15% to 61%.

Looking forward, Marvel chairman Morton Handel expects continued growth from Marvel Studios’ slate of upcoming films, which include Iron Man,The Incredible Hulk, Captain America and Thor, as well as the licensing revenues from related ancillary products.