O’seas Film profits halved

Overseas Filmgroup Inc.’s first quarter profits were cut in half, largely due to increased administrative and personnel cost, the company reported.

For the quarter ended March 31, the Los Angeles-based company reported a profit of $306,032, compared to $625,731 for the same period last year. Income from operations fell to $379,346, compared to $571,836 in 1996.

Overseas Filmgroup reported first quarter revenue of $6.2 million, compared to $6.5 million last year.

Company officials say personnel was beefed up to support a wider slate of film releases and distribution services.

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