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.