Savoy interest income at $ 1.9 mil

Newly public Savoy Pictures Entertainment announced interest income was $ 1. 9 million and net income was $ 11,397 for the three-month period ended June 30.

For the six-month period ended June 30, interest income was $ 3.7 million and net income was $ 32,356.

Because the company’s first film, “A Bronx Tale,” will not be released until October, revenue was comprised solely of interest income, and expenses were comprised of overhead and interest on outstanding indebtedness.

Because the company completed its initial public offering and a convertible debt offering during the first six months of the year, corresponding results for prior periods are not comparable.

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:

WordPress.com Logo

You are commenting using your WordPress.com 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

Loading