Financial Briefs

Third-quarter earnings and revenues climbed at Prism Entertainment Corp. as the direct-to-video company scored another hit with “Night Eyes III.” For the quarter ended Oct. 31, Prism earned $ 262,000 (12 cents), compared with $ 192, 000 (9 cents) in the period a year ago.

Revenue was $ 6.1 million, up from $ 4.4 million. For the first nine months , Prism earned $ 641,000 (30 cents), vs. $ 745,000 (35 cents) in the first nine months of the previous fiscal year. Revenue was $ 14.9 million, up from $ 14.7 million.

* * *

Eastman Kodak Co.’s CEO, George Fisher, acquired 107,400 common shares at $ 63.19 a share as part of his employment agreement, which began Dec. 1. The company said Fisher was also granted 20,000 restricted shares that cannot be sold until after he has worked at Kodak for five years. Kodak said its board also granted Fisher options to buy 742,090 shares at $ 59.97 a share and 7,910 shares at $ 63.19 a share, to be purchased only in 20% annual increments beginning in November.

* * *

The FCC approved StarNet/CEA II Partners to obtain a controlling equity interest in Video Jukebox Network Inc. StarNet/CEA converted a $ 1.2 million note into roughly 1.5 million Video Jukebox shares.

* * *

Acclaim Entertainment Inc. said it entered an agreement with Walt Disney Co. under which Disney will distribute Acclaim’s software throughout Spain. Disney’s Buena Vista Home S.A. unit will handle sales and distribution of Acclaim’s software for the Nintendo and Sega videogame systems.

Want to read more articles like this one? SUBSCRIBE TO VARIETY TODAY.
Post A Comment 0

Leave a Reply

No Comments

Comments are moderated. They may be edited for clarity and reprinting in whole or in part in Variety publications.

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

More Biz News from Variety