Republic Pictures Corp. posted record third-quarter net earnings of $ 162,000 (4 cents a share) for the quarter ended Sept. 30.

Profits increased 2.5% in comparison to the same period last year.

Revenues for the film and TV production and distribution company were up 5.4% to $ 19.6 million. The biggest gain was in the television unit, were revs climbed 113% to $ 7.9 million.

The company also lowered its operating income by creating a $ 1 million reserve, it said, in reaction to mergers and acquisitions among its customer base and to cover future “doubtful accounts receivables and video returns above and beyond normal historical levels.”

Want Entertainment News First? Sign up for Variety Alerts and Newsletters!
Post A Comment 0