Cablevision Systems Corp., the nation’s fourth largest cable TV operator, recorded a net loss of $ 48.8 million ($ 2.15 a share) for the second quarter, ended June 30, vs. a net loss of $ 85.8 million ($ 3.83) in the same period last year. Revenues for the quarter were up 23.8% to $ 168.2 million.
Eastman Kodak named C. Michael Hamilton as general comptroller, effective when Julian M. Gordon retires Sept. 1. Hamilton will continue as chief financial officer until a replacement is named. Also, Earnest W. Deavenport Jr., president of Kodak’s Eastman Chemical Co. unit, resigned as a Kodak director, an expected move since the company announced it would spin off its chemical group as an independent, publicly held company. Deavenport will head the new company.
NTN Communications, a programmer for interactive TV, recorded a net loss of $ 524,000 (3 cents a share) for the second quarter, ended June 30. That compares with a net loss of $ 233,000 (2 cents) in the same period a year ago. Revenues climbed to $ 2.1 million from $ 1.9 million last year.
Matthews Studio Equipment Group of Burbank recorded a fiscal third-quarter net loss of $ 69,000 (1 cents a share) for the period ended June 30, compared with a net gain of $ 239,000 (2 cents) a year earlier. Revenue was down 14% to $ 6.52 million vs. the comparable quarter in ’92.
Buckeye Communications Inc. will market selected music and related products owned or controlled by Sun Entertainment Holding Corp., whose Sun label is the original recording home of Elvis Presley, Johnny Cash and Roy Orbison. Buckeye will use Sun’s logo and rights to master recordings and artists’ images and likenesses.
An initial offering of 3.4 million class-A common shares of EZ Communications Inc. was priced at $ 13 each through underwriters First Boston Corp. and Alex Brown & Sons Inc. The Fairfax, Va.-based owner and operator of 11 radio stations is selling 2.75 million shares; shareholders will sell 650,000. The company wants to reduce the amount outstanding under its revolving credit facility and borrow enough to redeem remaining 12.7% senior subordinated notes due 1996 and buy Pittsburgh station WQKB-FM.
Omni Films Intl. posted a net loss of $ 36,491 (1 cents per share) for the third quarter, ended June 30. That compares with a net profit of $ 550,968 (18 cents) in the same period last year. Revenues were off 27% to $ 2.9 million for the Sarasota, Fla., producer of ride simulation equipment and 70mm theater systems and films.