New Line soars to record net

New Line Cinema’s year raced to record levels with net profits jumping higher than 800%. For the year ended Dec. 31, net earnings hit $6.26 million (or 690 a share) from $664,000 (80). Revenue soared 133% to $133.14 million from $57.2 million. For the fourth quarter, revenue grew 142% to $32.51 million from $13.15 million. Net profits for the quarter skyrocketed more than 1,000% to $2.14 million (220) from $128,000 (20).

New Line said Feb. 21 it is seeking its second public offering of about 1.6 million shares, according to documents filed with the Securities & Exchange Commission. Company hopes to raise about $15 million through the offering to use for working capital and to trim debt.

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