Fourth quarter and year-ending results for Trimark Holdings Inc., parent of Trimark Pictures, showed a marked improvement over last year’s figures, bolstered by the controversial “Extreme Justice” and “Leprechaun,” which contributed mightily in theatrical/video combination.
Net revenues for the quarter ended June 30 increased 70% to $ 19.8 million compared with the same period last year.
Net earnings for the quarter were $ 1.4 million, or 31 cents per common share, compared with $ 166,000, or 4 cents a share, for the same period last year.
Net revenues for the year ended June 30 were $ 60.5 million compared with $ 54.3 million reported for the previous year. Net earnings for the 1993 fiscal year were $ 3.27 million, or 72 cents a share, up 50% compared with a year earlier.
The controversy over “Extreme Justice” involved its subject matter, brutality in the Los Angeles Police Dept., and its timing. It was originally targeted for theatrical release April 30, amid anxiety over the Rodney King beating trial. It wound up getting its world premiere on Home Box Office.
Theatrical, international and TV revenues all climbed for the year.
The results, combined with recent events involving independent film companies , had Trimark Holdings chairman Mark Amin enthusing about the future.
“With the proposed acquisition of New Line Cinema by Turner Broadcasting System Inc.,” Amin said, “Trimark is now one of the largest truly independent, full-service production and distribution motion picture companies. I believe the company is well positioned for the future.”
Trimark Pictures’ upcoming theatrical releases include “Warlock: The Armageddon,” starring Julian Sands.