Independent producer/distributor Trimark Holdings Tuesday announced significantly improved operating results for its fourth quarter and fiscal year, ended June 30.
Net earnings for the quarter totaled $ 1.4 million, or 31 cents per share, compared to net earnings of $ 166,000 (4 cents) for the comparable quarter a year earlier. Net revenues soared 70% to $ 19.8 million from the earlier period.
Net revenues for the year were $ 60.6 million compared with $ 54.4 million reported for the prior year. Net earnings for the year were $ 3.3 million (72 cents), up 50% from $ 2.2 million (48 cents) in ’92.
Mark Amin, chairman of the board of Trimark, said in a release that over the past year the company “has raised the quality of its product and has maximized the profit potential for this product.”
He said “Extreme Justice,” starring Lou Diamond Phillips and Scott Glenn, garnered strong ratings on HBO and that “Leprechaun” performed well in both the theatrical and homevideo markets.
“Theatrical, international and television revenue all rose substantially during the past fiscal year and we once again had a strong performance in our homevideo division,” Amin said. “Despite the settlement of a shareholder lawsuit , which resulted in a 16 cents per share charge to expense during the second fiscal quarter, the company has surpassed the analyst (earnings) estimate of 60 cents per share.”
Amin said the company’s strategy will be “to focus on creation and ownership of the programming which will be needed to service … new delivery systems on a worldwide basis.”
To that end, the company in March announced forming Trimark Interactive, which was created to expand the core business of film production and video distribution into the emerging market for interactive entertainment software and multimedia. The new unit recently acquired videogame rights to the film “White Men Can’t Jump” from 20th Century Fox.