American Film Technologies Inc. expects to report a loss for the second quarter ending Dec. 31 of $ 700,000 to $ 1.2 million. AFT said the deficit reflects costs of moving additional film coloring and animation functions from San Diego to Tijuana and a reduction in film coloring production and revenues.
Costs associated with the potential resolution of the contract of Joseph M. Taritero, the company’s former chairman and chief exec, would also contribute to the loss.
Intl. Family Entertainment Inc. has extended its offer to buy all of the outstanding shares of TVS Entertainment PLC until 3 p.m. U.K. time Jan. 4. Company said as of Dec. 15 it had gained 59.3% of the voting rights of TVS.
Cabletron Systems Inc. posted a net income for the third quarter, ended Nov. 30, of $ 22.1 million (79 cents a share), a 44% increase from $ 15.3 million (55 cents) for the same period last year. Revenues for the Rochester, N.Y.-based cabler were up 42% to $ 110.4 million from the comparable quarter.